All Forum Posts by: Brent Wooster

@Winston Covington

Thank you for the information. We have been flipping for about six years now, this is the first time we’re trying out the live auction route. Most of the auctions in Maine are not heavily attended, not worried about over paying or not accounting for repairs. Glad you highlighted those aspects, but they won’t be a problem for us. As for fees, it’s $5,000 at the door and 60 days to close. My only concern is the occupancy part. I am thinking I will not be I’d on any properties if they are occupied, simply because I do not understand the process enough regarding how to get them out and when you can talk with them.

Regards,

Brent

I’m doing my research in preparation for attending my first live auction of foreclosed properties. I’ve noticed that a few of the properties are occupied, I’m wondering if anyone has had experience especially here in Maine, purchasing occupied properties from auction. How difficult is it to get the occupants out of the property?

@Michael Breisch

Preferably East of I95, and south of Charleston. Although we goo love it up near Clemson

@Patrick Froehlich

My wife and I talked about RE investing and over analyzed it for ten years. We bought our first rental four years ago and our first flip 18 months ago. I am 51 and we have done three flips in that 18 months. We did not quit our day jobs. My wife was a substitute teacher and I am a lumber wholesaler. She has since stopped working at the school (just before COVID-19), but I still sell lumber. We do most of the work on our properties, our sons (12 & 14) also work with us. We spend more time together than before and consider ourselves fortunate to be able to. We are also fortunate that I can continue to sell lumber while we work on the properties.

My advise is to make the move, you will not regret it, but you might regret not doing it should sooner!!

Plenty of folks here on BP that would be most happy to offer tips, present company included!!!

Happy 4th of July!!!!

@Curt Davis

Well said Curt. It can also be that they have wanted to do it and never had the stones to try. Once you get a few deals under your belt, your life will change dramatically, then they will want to see how they can get involved!!

Keep at it and make that first move fast!!!

Thank you Rob. I am greeting a quote from an agency in Bridgton. They do 90, 180, and longer policies. I will likely check the folks you mention as well

@Sam Brust

Thank you, I appreciate you and @Marc Fries. I’ll be reaching out to a few local independence today, these comments in suggestions will definitely help me out. Gotta love BP!!!!

@Mark Fries

That is reasonable, and completely get it, thank you!!

@Mark Fries

Thank you Mark

@Sam Brust

Thank you for the insight. It has been tough finding an agency that understands this industry here in Maine. Properties I buy are $45k to $65k with ARV's of about $140k to $150k. Don't want to spend $2k on three to four months of coverage. I also do a lot of the rehab (except, roofing, HVAC, electrical, and heavy plumbing).