All Forum Posts by: Chris Cogan

Bangor Savings Bank works well with real estate investors from personal experience. Maine has a lot of small banks/credit unions that I’m sure would be good as well. 

Thanks @Drew Sygit, that's good advice!

I’m looking for recommendations for property managers in the Bangor, ME area?

I don’t have experience for short term rentals but depending on the property you could get $1400-$1600 per month per unit on a year lease.

Just something to keep in mind, Old Orchard Beach has a fairly large transient population during the winter months due to the cheap weekly rates at many motels. 

@Eric James no, there wouldn’t be another back up source because the newer mini split systems are efficient at heating down to -30°F. 

@Dan Weber thank you, I figured as much but I wanted to be sure.

Does anybody know if Maine lenders allow mini splits to be used as primary heat source? I don’t want to have to go back and install another heating system when I want to sell the property.The house is currently heated by a single MPI kerosene heater. I am looking to upgrade to a efficient mini split system (efficient down to -30 degrees) so I have AC and heat in multiple areas of the house. 

I would listen to BP podcast show 109. It talks all about asset protection and how to structure your assets. 

https://www.biggerpockets.com/...

@Brian Plajer listen to episode 109 of the biggerpockets podcast. It's all about asset protection.

This is a summary:

https://www.biggerpockets.com/files/user/brandonatbp/file/10-ways-to-protect-your-asset---biggerpockets-podcast-show-109

@Bob Stevens thank you!