MF fix and flip portfolio in Lewiston ME

[Jonathan Bombaci]

We are primarily a buy and hold group but when we do flips, we only flip multi-family properties between 2-4 units. We have an opportunity to buy 8 MF properties (2-3 unit buildings) for about $1,000,000 in Lewiston ME. Some of them need some work but based on the appraisals we should be in pretty good shape. Is anyone investing in this market? Just like everyone else, we’ll be looking for investor friendly resources in this area and would appreciate any connections. 

And if anyone looking to buy a MF at a fair price in this area let us know. We’ll have some to spare.

Best,

Jon

[Josh Cousineau]

I know of some buyers looking to buy in that area. 

[Nick Brigham]

Hi Jon

I currently invest in the Lewiston area and have found Central Maine Property Management (CMPM) to be pretty good and reasonable for our property manager.  I do have a 4 family that I am looking to sell and upgrade to a 6+ family in the area or surrounding areas.  Let me know if you want to connect about this!

[Bethany Turon]

Hi Jon,

I own and manage in the area and also know additional potential buyers.  Happy to connect and talk further.

-Bethany

[Carl Hebert]

Hi,

I’ve invested in the Lewiston/Auburn area for 10 years now and really have enjoyed the returns. Rents have really climbed in the past 4 years and we’ve had actual appreciation to boot. 
There is still a shortage of units in the area and you are almost guaranteed to rent out any apartment in a week.