All Forum Posts by: Bethany Turon

 Augusta, Waterville, and Gardiner are all good cash flowing areas with a solid tenant base.  Hallowell too, but harder to find good cash flow there.  Please feel free to reach out if you want an opinion on specific properties.  Locations close to the airport (slightly west of the river) would be the "rougher" area but there are really no severely bad areas to stay away from.

I have one, not for Maine, but for a grocery store.

A lot depends on the location and demand there.  In a decently populated area, something like what you are describing could go for a good amount of money.  A free barn house would be worth connecting on here to see if any of us would be able to donate the rehab capital for a partnership!  I personally would have been interested depending on location and condition.

 Thank you!!!

 Will be good to catch up!

 Hi Aaron, you’re interested in my local markets! You can connect with me and I can give you some advice on where to look as well as a lender you may be able to use right away. 

 My monthly cash flow is about $2k so I will recoup my initial investment in about 2 years. 

Let's get together in the Lewiston / Auburn area and chat!  We will meet June 30 @ 6 PM, at Lost Valley.  

@Amy A. @Sebastian Libonatti @Griffin Richards @Steve K. @David Lichten @Ray B. @Dan Weber @Tyler Bushey @Leen Hariri @Karl Eisenhofer 

@Andy Verge @Tristan Scott Zell @Garret Getch @Robert Beardsley @Brian Mitchell

@Fred Haskell

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $300,000
Cash invested: $60,000

My first mixed-use purchase, this was an off-market deal with a contractor I encountered as part of my property management work. 4 apartments and a commercial unit near the interstate on a main thoroughfare. Solid cash flow and buy and hold.

What made you interested in investing in this type of deal?

Solid cash flow, well-built building, a commercial operation that was well functioning and had been in existence for 14 years.

How did you find this deal and how did you negotiate it?

In speaking with a contractor bidding for a job I was running, I found he was interested in getting rid of his property so he could focus on being in Florida full-time.

How did you finance this deal?

Commercial financing with Mechanics Savings Bank.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Justin Laverriere at Mechanics Savings Bank was great.

That's exciting!  How is your cash flow going?  I'm always curious about STRs in Maine.