Moving to Portland, Maine 2019

[Jon Mccarthy]

We are planning our first trip to main February 19th to visit for 3 days. My question is I want to do real estate buy and hold and flipping is Maine capable of this? 

Now I know the same story that everyone says you can do anything in any market as long as you know the market, but because I am new still could I be making this harder on me to start? 

I currently live in Cheyenne, Wyoming and we do not plan on moving out there until August 2019 so should I be worried and could I be setting my self up for failure?

I would also love to get my real estate license in Maine since I am new and this could help get me a foot in the market faster and education.

What are your thoughts, concerns, and what would you do if this was you?

[Andrew Magoun]

@Jon Mccarthy, Where in Maine are you looking to move to? If you're going to be in the Bangor area you should get in touch with @Ryan Murdock (also listen to his story on Show 234 from the BP podcast). Ryan should be able to get you in touch with brokers, etc. up there. If you're going to be in the Portland area I'd suggest getting in touch with the Vitalius Real Estate Group. They focus on multi-families. Also Brit Vitalius is the president of the Southern Maine Landlord Association and does a yearly report on the market in the Greater Portland area (here's the 2017 one).

If you are going into the Portland market, be forewarned, it's pretty hot right now. Prices are high and it seems like some owners are throwing things out on the market at ridiculous prices - and getting them. 

Good luck in your move. Maine's an awesome place to live.