6 House Hacks For A Warm February

February is the second coldest month in Anchorage, Alaska. If you want to stay warm, and let's face it, survive, you should following these house hacks to help you out!

Hack 1 - Pipe Insulation

Pipe insulation isn't only for pipes! Have drafty door ways? Go to your local home improvement store and grab some pipe insulation. Measure the length of the bottom of the door, cut the insulation to fit, and slide on the bottom of your door. Bam! No more drafty door ways!

Hack 2 - Warm Clothes

If you're like most people, you dread getting out of bed in the morning to battle the cold demons that rob you of your well earned blanket warmth. We have some ideas to combat that! Go to the gardening section and find a 24-hour timer you can plug other electric powered items to. Connect this to a heated blanket, and stash this in your dresser drawer, or lay on top of your robe or clothes for the morning. Time this for 15 minutes before you wake up and voila, you're jumping out of a warm bed and into warm clothes.

Hack 3 - Cheaper Electric Bill

Ok, so this might not keep you warmer, but if you insulate your pockets with dollar bills it just might! Tired of plugging in your car all night to slowly electrify your way to a higher heating bill? Us too! Get a 24-hour timer like in the above mentioned hack and plug it into your car. Time it for an hour before you're supposed to leave your house to give it ample time to warm up your engine block. Money saved!

Hack 4 - Dutch Oven

Warning - Child Hazard! If you're baking or broiling a dish for dinner, don't let that warm heat go to waste. After you're done cooking, leave the oven open so the extra heat can help warm up your kitchen and dining area for some summer time feels. You know what they say, if you can't stand the heat, open the oven!

Hack 5 - Electric Slippers

Less of a hack, and more of a life necessity. Amazon has ValueRays Heated Slippers for a mere price of $44.90. To purchase these immediately, go here http://www.amazon.com/ValueRays®-Slippers-Warming-Infrared-Solution-Small/dp/B004Y1OQGA. Plug these into your computer in the morning while you catch up on news, or bring them to work in your bag and secretly put them on under your desk. You will now never bow to the soul sucking pain of cold feet. 

Hack 6 - Infero House

Ever read Dante's Inferno? Me either, but I know it sounds really, really warm. Your house will also be really, really warm after this hack. Take some ice or a cold pack and lay it on top of your thermostat, and presto! This is perfect for those who like to simulate living on the equator in June in the comfort of their own home.

There you go! If you're looking to not only improve your quality of warmth in Anchorage, Alaska, but also cary your shoulders with confidence at work knowing you're the only one with warm feet, you've just won. Now you must hastily head to Lowe's or Home Depot and pipe insulate your condo, townhouse, house, apartment or whatever Dr. Suess-esqe house you have going on!

Regards,

James Cash

Properties of Alaska

Tips for Selling your Home in Anchorage, Alaska

As a seller (some one who is selling their home), you're typically looking for just a few items to completely satisfy you.

1. Top Dollar for your home
2. House doesn't sit on the market for elongated periods of time
3. Good real estate experience

While all of those topics can be talked about at length, let's look at getting top dollar for your home in Anchorage.

It Shows Well

We live in Alaska, and there are a few things to help you show it well in the winter / early spring.

1. Make the home warm and inviting - Nothing is worse then stepping into a cold house from a cold winter day!
2. No clutter - All the things you have on your kitchen counter may be necessary, but they don't help sell that house!
3. No personal affects - The pictures of all your kids and the oil-painting self portrait might add some personal flair, but it won't help prospective buyers to imagine themselves in your home.
4. Professional Pictures - If a picture says a thousand words, then a professional photo with good lighting says a million. iPhone photos won't help you like a well staged, well lit professional set of pohotgraphs.
5. Online Presence - In line with quality photos, make sure you give your apartment, condo, or home the text-justice it deserves. Give a great, brief description of why this is the home for them!

Exterior

1. Clean driveways and walk ways - Make sure these are free of snow and ice. We don't want eager buyers to slip and fall before they even enter the home of their dreams!
2. Tidy Exterior - Make sure the walk way is shoveled, and the ice melt is laid! Don't dissuade buyers with the unruly thought of shoveling or de-icing their driveways and walkways.

Be Prompt!

In the age of google, buyers are looking for now. How soon you respond to messages could be a deciding factor on the offers you get. Whether it's a sign call, e-mail, text or telegraph, you or your representation should ALWAYS be responding within five minutes of any inquiry. If you are not, you are missing out on HUGE opportunities to sell your home. You would be surprised how often a client tells me they chose me to help them buy or sell because I was the only one that responded on a Saturday.

There you go! There are some easy tips for you to help sell your home in Anchorage, Alaska during the winter / spring months.

James Cash

Properties of Alaska

We help you buy or sell your home / condo / townhouse / apartment with ease, precision and clear communication.

Interested to see what the Anchorage economy will bring to Alaska in 2016? Click the image for the full report of the ADEC for the 2016 economy. The housing market looks strong!

P.S. Remember, Properties of Alaska is your number one source for Buying, Selling any home, property, land, condo or even apartment building in Anchorage, Eagle River and Wasilla or Palmer.

It's that time of the year again!

Spring is just about on us in Alaska, and Anchorage has no snow. That means it's time to buy houses because you can move boxes without trudging in three feet of snow. Check out this infographic for the home buying process in a nutshell.

For more information on the home buying process, properties, lending programs or anything real estate related, give us a call today at 907-360-7448.

Properties of Alaska

This is an awesome video for the first time home buying process. Click the link below to watch the video

https://www.youtube.com/watch?v=D1VMDFtB76E

What do you need in order to get into your first ever home?

Watch this video to find out!

FHA and VA Fourplex

                        Want to enter into your first Real Estate investment, and live for free? What about start building your portfolio and having some one else pay your mortgage? Of course you do! If you keep reading, I’m sure you will as long as you posses the right mentality, discipline and drive.

Let’s hop right into it. You’ll need the following things:

·      43% DTI (Debt To Income ratio)

·      3.5% Down Payment FHA / 0% Down VA

·      Two Years Tax Returns

·      1-2 Years Steady Work History (less depending on if you just graduated)

·      2-4 Months Reserves (2-4x your mortgage payment)

·      ~640 Credit Score

There are exceptions to every rule, and with the right help from a lender, most of these obstacles can be overcome.

Buy and Hold

I am personally a huge fan of buy and hold Real Estate investing, and this is a great way to get your foot in the door with minimal money out of pocket. Why am I a huge fan of the buy and hold method? Passive income. Any truly wealthy person will let you know that the key to being successful is time leverage, and making money without actually having to work. Think about it. Would you rather make $100,000 a year by doing nothing, or $200,000 a year working 80 hours a week? Your first fourplex won’t make you $100,000 a year, but it will get you well on your way. Oh yeah, AND the fact that in a traditional 30-year fixed mortgage you will own the property and have boat loads of equity with minimal money out of pocket. Talk about return on investment!

What Should You Look For?

            In short, cash flow. Some one once told me, “Cash flow solves all problems”-and it does! There are a lot of variables that go into your calculations, but in short it should be based upon cash flow. A second close to this is exit strategy. If you buy a property that cash flows but it is in the worst part of town, is it really worth it? If you suddenly decide to move and don’t want to long-distance landlord, how easy will this investment be to unload.

            There are many other items like cap rate, debt coverage ratio and so on, but to me those come secondary to above mentioned. If you cash flow well, and you buy a deal in a great part of town, it’s a no-brainer.

As always, there are many more items than this to a real estate investment, but these are the basics of an FHA and VA fourplex to me. Everyone has their own opinion, and there are many strategies to the road of wealth. If you do happen to have any questions, feel free to call, text or e-mail me.

Regards,

James F. Cash

Real Estate Consultant

Real Estate Brokers of Alaska

Properties of Alaska

P. (907)-360-7448

F. (907)-297-2909

E. jamesfcash@gmail.com

W. http://propertiesofalaska.com

Bio: http://propertiesofalaska.com/james-cash

To learn more about FHA requirements, go here: http://www.fha.com/fha_loan_requirements

To learn more about VA requirements go here: http://www.benefits.va.gov/homeloans/purchaseco_eligibility.asp

We all make mistakes - we are only human! However, don’t make the same mistakes that others have made before you. Learning from your mistakes is a valuable process that separates the successful from the unsuccessful. Wisdom, though, can be found instantaneously from taking the thoughtful words of those that have come before us. Today we will take about the top ten mistakes of getting into Real Estate. 

10. Not Leaving Room To Grow

            A lot of times, people want to FHA or VA into a fourplex, and find that they want to get into a duplex or single family home. This is a great move. OR, first time home-buyers buy a giant home with too high of a mortgage. Leave yourself room to grow your real estate portfolio by leaving room to upgrade, or expand your portfolio. Start small, and grow.      

9. Not Performing Due Diligence

            This is your time to find out if your prospective property has good bones. Take time and act seriously during this instance. This can make or break deals, and you should take full advantage of inspecting whatever deal you are working on. Don’t be scared by issues that can be easily resolved, be scared by the ones that will haunt you forever.

8. Being Too Aggressive

            Sometimes investors want a lot of properties, and they want them now. Only try to find deals, don’t get yourself in a position where you are buying something just to buy. If you are in a recessive economy, maybe that is the right mentality. However, if you are in a flowing and thriving Real Estate economy, don’t be too aggressive. Find the right deals!

7. Setting Unreal Expectations

            This ties in with the last one. If you want a three bed, two-bathroom house in a great location, and you think you can get it for $100,000 under what market dictates, you’re wrong. If you’re not willing to set real expectations due to lack of market knowledge, you’re better off sitting on the sidelines and not wasting your time and the time of those around you.

6. Not Setting Big Enough Goals

            How many of you wanted to stock shelves at Wal-Mart? Probably not many. Set your goals higher than you think possible, and aim. If you aim for the stars and miss, you might hit the moon. Act like you are aiming for the stars every day and you will surely hit your goals!

5. Being Too Greedy

            Want to make 200% margin on your flip? Want to walk into a home with $200,000 in equity? You might want to think again. Real Estate does have once in a lifetime deals, but they are few and far between. Get real with your margins and what is possible. If something sounds too good to be true, it probably is. Greed can distract you from a good decision and put you into deep water.

4. Not Taking Risk

            The bigger the risk, the bigger the reward. You simply cannot get into real estate without taking any risk. Nothing is a sure thing. A meteor from Hailey’s Comet can come down tomorrow and disrupt your investment. Your three-year-old can accidentally knock over the Christmas tree and start a house fire. Don’t let fear hold you back from a great accomplishment. No one ever finished Grad school at Yale because they were afraid to flunk.

3. Not Acting Soon Enough

            If you’re waiting for the perfect time, keep on waiting. It’s like the people who tell themselves on Monday, when the planets align, that they will start their diet. Monday comes and goes, but it never happens. If you want to get into Real Estate Investing, or just buy your single family home, act now, before it’s too late. Rates go up, rates go down, but acting now makes sense. You need to make your own Mondays!

2. Lack Of Market Knowledge

            If you want to get into the rental market, yet it is weak, or trying to emerge in the flipping market with coveted new construction, you need market knowledge. If you don’t have it, wait and study it. Only great understanding of the current market will aid you in your endeavors.

1. Trying To Do It Alone

            If you’re trying to break into new ventures, yet you don’t have anyone by your side, stop! Just like in any industry, contact either a professional whose job it is to do these things on a regular basis or some one who has done it before. Remember, you’re not inventing the wheel; you’re just using it. Get help!

Thanks for reading!

-James Cash

CEO / Owner

jamesfcash@gmail.com

(907)-360-7448

http://propertiesofalaska.com

Check out our latest news letter!

Cheers!

-James

Properties of Alaska

The VA Loan

         We hear the term “Triple Zero Down” quite a bit in reference to a VA loan. Regular citizens wish in envy of entering a house with no money out of pocket. Is this VA loan everything it’s made out to be? Today, we’ll take a closer look at the loan program sponsored by the Veteran Affairs office.

Residential – Single Family Home

         First, let’s define what a VA loan is:

1.   0% Down Payment

2.   No Private Mortgage Insurance

3.   Closing costs can be paid by seller

This is where the traditional “Triple Zero Down” comes in. If a person has a VA loan, they can literally walk into a house with no money out of pocket and little to no money in their bank account. Awesome, right? Let’s talk about why this can be a bad thing.

         While it is quite amazing you can purchase a single family home with bringing nothing to the table, you should be careful about primarily two things: What does your future look like? What do your payments look like?

         It may take a couple years to get some equity in the home you just purchased, unless you got a screaming deal. If you decide to move, or have to PCS, selling can become a nightmare if you don’t have a solid $20,000-$30,000 depending on the purchase price. You may be stuck renting it out, and being a distant landlord (not ideal).

         Also, without putting anything down, payments will be generally higher than using a conventional loan. Not necessarily a bad thing, just make sure you feel comfortable with the amount you’re paying in your mortgage every month.

         Residential – Multi-Family Home

         This is where the VA loan can truly shine. With a VA loan, you can acquire up to a four-unit property (fourplex, 4-plex or four-flat depending on where you’re from). This means a duplex, triplex or fourplex is within your grasp.

         Why is that so amazing? We’re glad you asked! We are passionate about real estate investing, and who better than to share the amazing possibilities of investing in real estate than our beloved men and women of the armed forces!

         Please note that with a triplex and fourplex, you do have to have additional reserves in your bank account (click here to read more about what you need). Also, you must owner occupy your property for at least one year (unless you PCS or have other extreme life circumstances that prevent you from doing so).

         Getting back to the amazingness of it, this is one of the only times in life where a person can take ZERO dollars, invest it into real estate, and get unlimited return. When investing, we often talk about your ROI (Return On Investment) or cash on cash return, or upfront rate of return. With a VA, you invest ZERO dollars, and if you ride out the length of the term, not only will you have hundreds of thousands of dollars in equity, you will have been cash flowing money along the way.

         Why not have some one else help pay your mortgage for you and build bigger, quicker equity while you’re at it? That’s what we’re doing here folks!

A fourplex and triplex will always cash flow better than a duplex, and being a landlord isn’t for everyone. So please consider the pros and cons of getting into a multi-family investment property.

When using a VA, it is important to consider all your options and have clear understanding of where and what you’re doing. It is an amazing loan program for amazing people and it should be used accordingly!

Comments and questions are always welcomed!