Buy or Sell in Anchorage Area
I own and rent out a SFR that brings in brings in $300 after utilities and mortgage/taxes/insurance. I have about 50k in equity in it. Property values are on the rise in the Anchorage area and there is low inventory, seems like time to sell. The house isn't a high quality home and seems like a big ticket repair would wipe out any profits.
Right now we are looking into purchasing
investments that could potentially make us more money in the long term.
The market in Alaska (anchorage area) seems to be poised for growth.
My question is, should I hold onto the SFR hoping to gain more appreciation but risk wiping out any short term profits or sell now, take the money and really make it work for me?
We would love to hear from anyone, especially people with experience with Alaska's unique market.
Thanks!
Rod