With so many changes happening in the real estate industry because of AI, Lottie and I decided to join forces. We’re sharing our years of experience, our stories, and the lessons we’ve learned along the way. In this episode, Lottie opens up about her background and shares

her expertise in the Alaskan real estate market.

Who is Lottie?

·  Lottie Michael manages the commercial division of Berkshire Hathaway Home Services.

·  She got her license at just 19 and started in residential real estate, like most people do.

·  Lottie worked alongside her mother until she was ready to run her own brokerage firm in Alaska. 

·  After a few years, she moved to the San Francisco Bay Area to work with another firm—but Alaska kept calling her home. Lottie moved back and has been deeply involved in brokerage, personal investing, and the commercial real estate sector ever since.

Advice on Investing in Real Estate

·  Lottie suggests that anyone thinking about starting a real estate portfolio first consider which area they’re passionate about—residential, industrial, or multifamily. 

·  Focus on that area and start building your network with engineers, attorneys, and CPAs to grow your portfolio. 

·  Connie adds that having a residential land developer on your team can make a big difference. The people you surround yourself with matter immensely in real estate, and without the right team, you may end up struggling.

Alaska Real Estate Dynamics

·  We love Alaska and always enjoy our long walks together, taking in the beautiful scenery while talking about real estate. 

·  That said, we’ve noticed some unique challenges here, including high construction costs, logistics hurdles, and an aging housing stock. 

·  Despite these challenges, there are also amazing opportunities in Alaska—many of which we dive into in the podcast.

Commercial vs. Residential Insights

·  Medical facilities can get pricey to build out with all the plumbing, HVAC, and electrical work—way more than your typical retail or industrial space. 

·  And when it comes to commercial costs, things like utilities and build-outs hit your bottom line fast, so location really matters. 

·  Here in the Mat-Su Valley, we’re seeing a boom in housing and commercial growth, and infrastructure is racing to keep up as more people look beyond Anchorage for services.

“Real estate is the vehicle to build wealth—for you and for your family—and yes, it’s challenging. You don’t need to start with a lot to end up with a lot. A strong work ethic is, I think, mandatory, but beyond that, that’s really all it takes.” - Lottie Michael.