All Forum Posts by: Ben Theriault

Thanks for the insight Eddie. It seems like most of the stock in town is around the century old mark so that is good to keep in mind. Perhaps its worth both bumping up capex and budgeting for future improvements.

@Brett Jones

Thank you for the help! I'll be contacting the agents on these properties soon. Hopefully they're open.

Im glad to hear that the town is helping with the sewer lines at your property! Got to love it when timing works out like that.

Hi all,

I'm analyzing small multifamily properties in the Orono/Old Town Maine markets. Does anyone know a good resource for a reliable estimate of water/sewer/heat in this area? This varies on square footage obviously but I'm wondering if there is a either a rule of thumb or a local contact that might be able to offer some insight.

Thank you!

Hi All,

This is my first post in the deal analysis forum. Below is a calculator I made in google sheets (I ran out of uses of the BP Calculator). The report it produces is below.

Any advice on what I should add or change would be greatly appreciated!

Sorry all Tried to find a fix to the bug in this but it isnt working. Disregard haha

Hi BP!

I'm interested in possibly partnering with a colleague I went to college with. Our chemistry is great and we have worked on multiple projects together both in and out of college that show we are good at problem solving.

What I'm trying to figure out it what the financing options of a partnership are. If you approach a bank as a partnership can you still get traditional financing? Does it add a new level of complexity? Can you get legal documentation written to simplify this process?

Hi All!

I am still a newbie to real estate investing. My goal, like many others, is to invest in multiple buy and hold multifamily properties (probably spread across southern Maine) until I can replace my W-2 income. However, with my lack of experience in property management I am hesitant to have my first investment be 2+ hours away. That being said Northshore MASS is far from buy and hold friendly. 

While I still eventually want buy and hold properties to be the bell cow of my portfolio, in this market it seems to make sense to instead buy raw land and build new properties on it. I have experience as a project manager for heavy construction projects and I enjoy the management process. 

Raw land is really the only property around here that within my initial budget ($150k range). If I could use a USDA 524 Loan, construct a duplex, refinance when project is complete with a traditional mortgage, and then sell/rent the other side while I live in the property then it just may work out for me.

This is a brainstorming  session for me and I was wondering if anyone had any tips at all or if this strategy seems viable? 

Also any books/articles anyone recommends are more than welcome!!!

Thank you,

Ben Theriault 

 

@Amber Singleton

Dont get discouraged get hungry! I have a hair more than $5k to my name and this post has ideas in it to make that grow. I'm tracking my expenses with the "wallet" app. It's a good intro to seeing where your money is going and where you can make cut backs and it's free!

Keep the nose to the grindstone and money will come. I found that while educating myself is important I cant buy a house with just knowledge. Step one of my R.E. journey is saving money so that's my goal!

Dont give up!!!

@Gary Nestler

Do you find it worthwhile to look into housing fairs? Some universities have these. I'm not sure if they are solely saved for larger conglomerates and complexes or if they'd let in some smaller investors.