All Forum Posts by: Tyler Cobb

Hello Nicole,

There is definitely an opportunity for STR's in Anchorage! During the summer, travels are always looking for affordable living and we have a large traveling nurse population that can sign a 6 month lease during the winter.

Let me know if you have any questions or you'd like to connect!

Hey Jason,

As an agent and investor in the Anchorage area, times are tough when it comes to small multi-family. I myself am looking for another owner occupied property and am constantly searching for deals! So I know the struggle.

Some things you could do to strengthen your position is add an "escalation clause" to your offer. This will always put you at the top of the sellers mind when it comes to price. If you have a strong enough internet connection out there, ask your agent to do a FaceTime walkthrough.

Let me know if you have any questions or were interested in connecting!

@Chris Morris I bought in the Muldoon area 

Like @Keenan Fitzpatrick, I've been working with @Jamie Rose and he is definitely a rockstar!  

I've been able to live for free and even cash flow every month with my 4-plex in Muldoon. There is definitely potential in the Anchorage area but you won't be finding a TON of deals on the MLS.

I think the potential is in the off-market deals here. I've started my first direct mail campaign and have already received calls from potential sellers. I'm not doing anything different that you might see in the lower 48, there is just no competition here.

Best of luck to you!

@Stephen DeThample She either wants a small multi family property, or depending on the options, a condo. She’s going to be working near the 89142 zip code. She’s looking for cash flow and to live for free. I will be helping her manage it while there but we’ll transition to a property manager.

I want her to be in a B+ neighborhood where she’ll be safe. 

Hi BP,

I’m trying to find my Core 4 in Las Vegas. I am doing this to help my mom find an investment property that she may house hack. Please send me your recommendations! 

I would, but you have to make sure it's actually in a "good" neighborhood. During your Due Diligence phase, figure out what was neglected and try and leverage it in the negotiations. For example, if the previous landlord didn't update the appliances, try and get a reduced price. 
 

Investment Info:

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

Purchase price: $369,000
Cash invested: $12,915

Estate sale that the new owner wanted to get rid of. After submitting my offer and was under contract, there was a fire that destroyed the utility room. Also, the old tenants destoyed their units.

This though provided great leverage to me to get almost $30,000 worth of free upgrades and renovations on the property!

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

I wanted to get a nice property with little money down.

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

Through my Real Estate Agent, we put an escalation clause in the contract to beat out any bids by $500 at a time.

How did you finance this deal?

FHA, 3.5% down

How did you add value to the deal?

Like i said in the description, the value add came through the unfortunate fire that occurred.

What was the outcome?

A great rental that i have over $50,000 worth of equity in right off the bat and i cashflow about $500 a month pure cashflow.

Lessons learned? Challenges?

Patience is key when looking for a great deal, but don't be afraid to pounc.

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

I worked with my agent, Jamie Rose, in Anchorage AK. He was awesome and provided so much insight on investing in this market.

Hi BP,

I'm a new investor and I'm interested in how to find these deals. Can you find these deals on the MLS or can you go to the county steps and get a list of them? Any help on this topic would be much appreciated. Thank You!

Is it unprofitable or bad to invest in mobile homes? I've read/listened a lot to why buying Mobile Home Parks specifically can be a very lucrative investment, but is the same true for just mobile homes? I know there are lot fees that have to be paid for the land rights, but are there other hidden fees? Any tips or advice would be much appreciated.