New Investor in Southern Maine - Lewiston and Auburn

[Andy H.]

Hello BP Community,

I met Scott Trench and Mindy Jensen back in January and their passion was enough to send me down the rabbit hole of learning about REI and seeing if it's right for me.

At this point, I'm excited to dive in.

I live in the DC area, but am looking to invest in Southern Maine (where I have family and the numbers will work better) and have settled on buying a small, multi-unit in the Auburn-Lewiston area as a buy-and-hold rental. Hoping to accomplish this within the next year.
Long distance investing seems a little intimidating at first, but I think by developing the right team, and with family close by, I'll be able to make it a success.

I'd love to chat with anyone in the area and connect with the community. Looking to learn as much as possible at this point.

Thanks all!

[Michael Webster]

Hey @Andy H., 

Welcome to BP!  There are certainly some affordable units in that area. I've had clients who have purchased residential multis there, and had great success. Fair warning though, the tenant base can be tough and the price point comes with its challenges.  As long as your family members are willing to put in some effort with the management, you can make some amazing returns on your investment. 

Feel free to reach out if you have any questions or need any tips!