REI in Maine to connect with

[Nathan Andersen]

I’ve purchased a few tri and four plex rentals in Maine (two in Caribou and one in Bingham) and I’m interested in continuing in the Maine market and had general questions and inquiries for Maine natives, realtors, PM, investors and owners of real estate in Maine. Some questions off the cuff are:

How crime in smaller communities is projected and if it really effects multi family investments? I live in a town of 60,000 in California, and while the crime rates are fairly accurate, some of the better areas get lumped in with surrounding neighborhoods. How should I get a better idea of the accuracy of it?

How to assess and project job growth in smaller rural communities?

Have you found or been able to succeed with any short term rentals in coastal areas?

Any small niche rental ideas that have been successful for you?

I’ve been looking to continue in the surrounding areas of Augusta, Belfast, and Farmington in the future. Any advice?

Thanks again in advance.

[Eddie Gonnella]

Hey Nathan, I invest in central Maine and grew up here, more the Bangor area. More concerning here than crime is going to be poverty in general, and drug use. In most places, especially rural, it isn't block by block crime changes like I've seen in other parts of the country. The towns are so small and dispersed it doesn't really work like that. In a couple of the cities there are better areas and not so great areas. I own an STR in Hancock County, that has worked well. I would definitely recommend that. What kind of financing are you using for your properties right now? Send me a PM if you want to discuss more!