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Updated almost 2 years ago,

User Stats

13
Posts
8
Votes
John Guy
  • Real Estate Agent
  • Acton, ME
8
Votes |
13
Posts

Private Money Lenders in Maine?

John Guy
  • Real Estate Agent
  • Acton, ME
Posted

Hello! 

I currently manage a 63 vacation rentals along the southern Maine coast as well as 13 long-term rentals & am very involved in that market. 

I am currently in the infancy stages of acquiring my first investment property. I have come across a duplex in a local class C neighborhood, which proved to have very healthy cashflow when I ran the numbers using the BP rental property calculator (conventional loan terms). The property need approx. $30k in rehab (generous number), however I have plenty of resources within this region to complete them in a timely manner. 

There are a few factors why I believe it makes more sense for me to utilize a PML at this time, but finances are the biggest setback - I have three kiddos and am the head of household and I'm not willing to jeopardize their stability. However, I don't want to see this pass by. 

I would love to discuss terms with a PML to see if that route will make it happen. If anyone is, or knows of one, please let me know! 

John 

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