Need contractor in Eagle River Alaska

[Jason Borgstede]

Hi everyone. So my mom just had her previous tenant leave her rental unit. It is a zero lot line in Eagle River. Approximately 2084 sqft, 2.75 baths, and 3 bedrooms. We are in a situation where the house needs a number of repairs as well as a lot of updating. Work would/may include vanity replacement, tub replacement (jacuzzi tub), wall/ceiling retexturing, kitchen cabinet and counter replacement, tile work, trim, sink replacement, possibly some minor plumbing rerouting.

We are looking for someone or suggestions of someone competent, reliable, and timely (isnt everyone?).

Personally I am also looking for ideas or just links to posts about determining whether selling or continuing to rent is the smarter choice for the unit.

Thanks so much. This is something very tough for my mom and so I'm trying to step in and take some of the workload and pressure off her plate.

[Scott Sewell]

Hi Jason,

I'm thinking about your question like this:

Let's say the house was in great condition (fully updated, hardened for rental, etc.,etc.) either for rent or sale, would your mom want to rent it or sell it? The answer to this question may determine how to proceed.

Otherwise, this sounds like a numbers game to me. How much would it sell for (ARV) versus how much net income it would generate over a specific period of time. In other words if it would sell for 200K (net after all expenses) or produce (net) rental income of 1000 a month, the rental income would only come out ahead after 200 months (16.67 yrs.).

As to a small loan ($30,000?) on a cash flowing rental, (with that much equity it should cash flow) I would think a banker would look at that as a positive. And that is the approach I would seek if that were the decision, a small mortgage not a heloc.

I have thoughts on your other questions as well but to my mind this one needs to be answered first.

Just my opinion.