All Forum Posts by: Sean Ridlon

Great question, @Eric Fernades! I've been wondering the same thing.

If the existing tile is well-adhered (test by tapping and listening for a either a hollow or solid sound) then you have several options: remove the grout alone with a tool and just re-grout, or replace the tile. Replacement of grout (especially of the floor) can be handled by most people with very little construction knowledge possessing the correct tools. If the grout lines are wide enough, that is.

Are you talking about self-adhesive vinyl tiles? I think they are garbage. There are other types of vinyl floor tiles that are much better but will require you to float the floor with adhesive or with concrete to prepare the surface for the new vinyl tile.

@Brian Ellis Since it's a master bath, why not do a poured pan and walk-in tile shower? 

@Account Closed do I see $700 allocated towards GC quotes? If i'm interpreting that correctly, let me just take a moment to applaud you for actually PAYING for a GC's time and effort in providing you with good estimates for your repair budgets!

The old adage "You get what you pay for" also applies to estimates: so why would anyone want a "free estimate"? Especially when you are a pass/fail on the numbers alone as an investor.

Now, that being said, it may not be necessary to just pay cash for the estimates. In the remodel and restoration business I worked in for 15 years, I would routinely give free line item estimates to past clients that had actually contracted work with me. But if I didn't know them... I charged a minimum of $155 or 2% of the estimate total (either amount being deducted from their contract total if we moved forward with the rehab). So in that way ALL my clients get free estimates.

I use fairly sophisticated estimation software to prepare the estimates, and am able to produce various reports such as subcontractor budgets, all materials including cost, number of hours needed, scheduling all for the same 2% charge. Lenders really liked these estimates. Make sure you are specifying to the GCs you are calling that you need a "detailed, line item estimate". No point in offering to pay for an estimate only to get some chicken scratch on the back of a bar napkin!

Nope! The cadaver is removed but everything that leaks out/gets sprayed etc is left behind for the property management or owner to deal with. Good news is that the insurance company handles all those costs beyond the deductible amount. The company in AK where I worked for 15 years did one a month or so.

Dylan, howdy! I'm new to the Gainesville area (less than 30 days). Have a deals under my belt but still loads to learn. I've spent my career in rehab and restoration in other places. If you'd like to talk on the phone some time, shoot me a PM and I'll get you my cell number. Might be good just to chat and see what we come up with.

Javoris,

Good to meet you! I was an Alaskan for 14 years... until last week or so when we moved to Florida! We lived out in Wasilla. Anyhow, good luck up there. 

@Hans I'm going to jot some quick replies in here: "I think there are some positive things to come from the federal level with our Congressional delegation/F-35s coming to Fairbanks" Our entire delegation rolled into one wouldn't make one Uncle Ted. Don Young is getting up there, and I shudder to think what will happen when he is gone.

"Trump's plan for infrastructure spending/tax plan/more favorable towards business;" 

110% agree except for infrastructure. Infrastructure is a loser for two reasons: 1) maintenance costs in AK are typically addressed by state bonds, and we got down-graded. Probably going to lead to taxes and definitely to debt. 2) the nature of government spending on infrastructure is that government must first extract the funds from the economy through taxation in order to have it in the first place. Government creates NOTHING.

I am looking forward to Trump's tax plan, however and I think that will help the US out but I'm unsure about AK where the majority of people are receiving government checks.

"Oil/gas/mining are what drive Alaska. I work for a trade association that represents over 500 Alaskan businesses, with 30,000 employees that do support work work in the oil/gas/mining industries and our members have laid off 3000 people since late 2014 - these are the highest paying jobs in AK. Our members have over an 80% Alaskan hire. AK Department of Labor numbers put out of state oil workers at about 30% of the oil/gas workforce. Regardless reports now put total job loss statewide at nearly 6000 - between private sector and public sector."

I agree here I just think we missed the boat on LNG, there's no refining, and past high oil prices made cheaper oil elsewhere more attractive as ours is expensive to get. The US rocketed up in domestic oil production while AK oil production declined. 

I hope Trump can make changes to make oil (and mining) cheaper and easier here in AK. I'm totally on-board with you that those industries are going to be the most important going forward.

"Hopefully oil prices continue to rise, and our state doesn't change tax policies again that chase off investment. Our state govt. really has to implement a long term fiscal plan to fill the budget gap, that hopefully doesn't involve excessive taxes, so that businesses can plan for the long run."

I think there's plenty of cheap easy oil available in the lower 48 and newer pipelines elsewhere, too. Commodities globally have taken a huge dump in 2016 and I guess I'd say the only place prices can go is up. The largest gains in AK employment were in Providence if I remember correctly. I don't know how that might work into your strategy, but there it is. Overall, 2016 was the first year since the 1980's with a net population loss in AK.

AK is and has been a cyclical RE market. Hopefully we won't repeat 1983 ever again, but being able to identify where we are in that cycle should be apart of every local REI's tool bag. I personally prefer more lineal markets, but I'm not really in the market I'm in for appreciation as much as I am for cash flow.

Additional insured- no

Written scope and contract- yes

There's lots of experienced agents and investors already chiming in here, so I'll be the odd man out. I only own one investment property. And it isn't in AK (although I live here and have for 13 years).

I wouldn't buy anything in Alaska at all. This state is going to go through some serious financial difficulties, the inventory of multi-family (particularly in Wasilla) is high, real estate here is a cyclical market and is near the top (but beginning to soften).

I think we are going to see prices and rents decline.