All Forum Posts by: Aaron Bard

Going into the showing I had zero expectation that I would put an offer in on this property. However, by the end of the tour, I determined that this property was perfect for me.

I had to make it work.

I put in an offer, and last night after a second showing, my offer was accepted! My first accepted offer ever! And an incredible deal as well!

I'll do my best to keep this thread updated as the process goes along, but now we go into inspection time.

Thanks for the support!

4 Votes

Portland, Maine

Quote from @Doug Smith:

Quote from @Dominik Porobic:

Quote from @Doug Smith:

Everybody and their dog are chasing 2-4 unit deals right now. People are willing to overpay...don't be one of them. Create a model you're comfortable with a stick to it. There are so many people with capital chasing fewer and fewer assets, people are bound to overpay.

What makes you think it's going to get any better? My client bid 60k over list on a 3 unit a year ago and now it's worth 100k more than he purchased it for.

Time in the market beats timing the market. Appreciation and rents will catch up in the right location for the right property. Don't wait too long or you'll wait forever.

After getting chastised by someone that was in Middle School or HS during the last crash, I feel I have to answer your post. I don't think I indicated it would get better any time soon, but I have 33 years of experience of real estate fund management and a nationally-known track record with specialty in taking advantgage of and weathering down markets and I've seen many, many cycles. We started this company prior to the last crash and, during that time, many advocated the same aggressive position that you just advocated for. They got destroyed. I see you graduated from college in 2015 and haven't been through a strong downturn. Rates, taxes, and insurance are not going to improve in 2024. Buying real estate is still a great idea, but overpaying for it has been shown time and time again through down cycle through down cycle to crush investors. Your strategy worked 2 years ago, but we're in a very, very different time now. You make money when you buy real estate...not when you sell it.

Good information!

1 Vote

Portland, Maine

Quote from @Christian Winn:

@Aaron Bard

Woohoo! So stoked for you man! Is it in Maine?

Thank you! And yes, it is!

0 Votes

Portland, Maine

Quote from @Wendell HII:

@Aaron Bard. Ohhh so close! We have a 4 plex for sale, but just a bit further north, Dover Foxcroft, not quite between Newport and Pittsfield.

Good luck with your search!

Thank you!

I'm quite familiar with the Dover-Foxcroft area, but it is quite a bit out of my way.

Thanks for the reply!

0 Votes

Portland, Maine

Quote from @Zachary Tracy:

Sweet Aaron. How did you find it?

Zillow! It's been on the market for a long time and toured it twice (with a master carpenter the second time) and decided to put in an offer with some included contingencies.

1 Vote

Portland, Maine

Zillow! It's been on the market for a long time and toured it twice (with a master carpenter the second time) and decided to put in an offer with some included contingencies.

0 Votes

Portland, Maine

Very excited!

I just put in my first ever offer on a property. Offered on a 4-plex. I'm not actually expecting it to be accepted, not because it was a bad offer (it was on point according to my agent) but because of some other factors. An amazing learning experience either way!

Thanks BP community for listening to my rant!

6 Votes

Portland, Maine

Good info! Thank you!

0 Votes

Portland, Maine

All Forum Posts by: Aaron Bard

Aaron Bard has started 24 posts and replied 71 times.

Post: Exciting News!! (Progress Report)

Post: Exciting News!! (Progress Report)

Post: Exciting News!! (Progress Report)

Post: My Desired "Sweet Spot" is Dry

Post: Exciting News! First Ever Offer!

Post: My Desired "Sweet Spot" is Dry

Post: Exciting News! First Ever Offer!

Post: Exciting News! First Ever Offer!

Post: Exciting News! First Ever Offer!

Post: My Desired "Sweet Spot" is Dry