All Forum Posts by: Nic Williams

Fairbanks, Alaska, offers incredible opportunities for those interested in purchasing land. Whether you’re looking for off-grid living, investment property, or future development, land sales in this area can be a lucrative option.

1. Types of Land: Fairbanks has a variety of land types available, from raw, undeveloped lots to partially improved properties with utilities like electricity or water access. Zoning varies, so always check the local regulations for your specific needs.
2. Financing: While cash purchases are common, financing options are available through local banks and credit unions. It's important to note that interest rates for land loans may be higher than those for residential homes.
3. Utilities and Access: Many rural lots in Fairbanks are off-grid, so buyers should consider whether they need to drill a well, install a septic system, or bring in electricity. Year-round road access can also vary, with some parcels only accessible seasonally.
4. Market Trends: The Fairbanks real estate market is competitive, but when it comes to land it's not very competitive and the prices are still relatively affordable compared to other states, making it an attractive option for investors or builders.

I am proud to announce that I got another client under contract on a 4Plex here in Fairbanks Alaska. They are locked in with a 6% interest rate on a property that we went above asking price on. Currently under contract for $552,000 with a conventional loan. This property is gonna cash flow over $1000 a month after we're all said and done with utilities mortgage and more. So happy for my investors hopefully the rest of the transaction goes smooth so we can get it all locked in and they will have one more property in their portfolio than they did a few months ago. The Big plus is the tax deductions they will be able to take as well!!!

 5% down conventional loan, didnt want to owner occupy. moving into creative financing for the next few. I used First Rate financial 

 agreed

 great advice I'll look into it, thank you

 Thank you!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $380,000
Cash invested: $100,000
Sale price: $380,000

The sister to my first 4plex, similar in style, location, and size. this one we are treating as a 3plex with an AirBNB

What made you interested in investing in this type of deal?

Proximity to my other investment and familiarity with the construction.

How did you find this deal and how did you negotiate it?

MLS negotiated myself!

How did you finance this deal?

Conventional Loan with First Rate Financial

How did you add value to the deal?

Bought the property As-Is for a reduced price

What was the outcome?

Great property and added rapid growth to my Protfolio

Lessons learned? Challenges?

Sewer back up during the transaction lead to some renegotiations on the AS-IS clause.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Highly recommend Nic Williams (Myself) lol

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $400,000
Cash invested: $100,000
Sale price: $400,000

4plex in the heart of Fairbanks in a desirable area between the commercial district and University side of town.

What made you interested in investing in this type of deal?

Perfect location and start to my portfolio at the time.

How did you find this deal and how did you negotiate it?

MLS find, multiple offers, bought at purchase price

How did you finance this deal?

Conventional investment loan at 3.5%

How did you add value to the deal?

exchanged commission for a seller's credit to cover all expenses of the sale and repairs minus the down payment.

What was the outcome?

My first 4plex with a cap rate above 10%

Lessons learned? Challenges?

Smooth transaction, no major challenges out of the norm.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am the real estate agent!