All Forum Posts by: Marc Duval

Landon,

Girdwood is definitely a need-to-know market. I have noticed that by the time any deal makes it to market, the numbers dont make sense (the property has generally been introduced to the local market before it would make it to the MLS). Marketing to homeowners would likely get you a couple deals from of the longer owners (which may mean some deferred maintenance in an incredibly wet and heavy snow area). There is a lot of money building that place up currently and preventing other development opportunities on the Anchorage side. Not trying to be a Debby-Downer, but at this stage in my investment journey, I would not be up to the task without a tweak to my current network.

Like most places that have experienced a large boom in the last couple of years, I would look at opportunities that may be present in the near vicinity. 

Nick,

Girdwood has been a bomber market over the last 10 years and I regret the day that I looked at my agent out of the corner of my eye when he suggested I look there as a first-time homeowner; nevertheless, that was not the market for me then. I am a long-term owner/investor in Eagle River and I have a couple of properties that do provide cash flow (not without keeping arguably too much capital in the homes). Long-term south central AK looks solid. With my current team, it is hard to make the numbers work without the proper lead. The market does not swing drastically, but I have been unable to find enough cash flow in multi-family (since 2018 without the foresight of the 2020 rent growth and without being an owner-occupant performing much of the work).  

I probably should have led with this, but my buy-box is SFR C+ to A-. I am Mil. and the military demographic provides solid occupancy and sales opportunities. The military population is going to grow significantly over the next year on JBER as well, and contribute to the inventory issues (not necessarily bad for investors).

Thank you for contributing on the Alaska market, it may not be "the hotness," but the numbers continue to work on many deals.