All Forum Posts by: Cody Maheu

@Bethany Turon

Thank you. That's a relief about being pulled away, I didn't want that condition to prohibit me from dipping my toes in again.

As for my specifics, my search has a decent range. I'm more looking for something that has an intuitive feel good move. This could range from picking up a nice duplex in a quiet neighborhood to a quad in a lower income area. My goals align with owning multiple small MF's within 5 years.  The numbers just have to match up!

I'll reciprocate the offer if you'd like! I tend to just check MLS every morning, not really sure where else to look.

@Dan Weber

What did you mean by saying "staying out of towns like Portland, Westbrook, Biddo/Saco will help you be more competitive as well"? The market has seemed a bit crazy. All five places I tried to set up a viewing for a friend to see got put into contract within the same week. Is there a reason why most of the places in Sanford have been pretty static? I see there are decent properties but have been sitting on MLS for a relatively long time to it's neighbor Biddo.

@Andrew Powers

Thank you. I didn't think about the task implications, I'll look into it.

I am looking around Southern Maine (anything south of Augusta). I grew up around there so the area is very familiar and I have friends/family. To be a bit more specific, Westbrooke/Lewiston/Auburn/Portland/Biddeford/Saco/Sanford. I would also consider Bangor, outside my scope, if the deal was good enough.

Hey BP, I'm relatively new to the community. I picked up real estate when I was 20, did a house hack (didn't know that's what it was called at the time) and flipped it under a year to move out to the West Coast. Now (7 years later), I've recently got interested in doing another house hack in ME again to start my RE journey since my job allows me to telework for the time being.

I plan on trying to buy a MF(2-4 units) under $300,000. I am curious what others think about the pros and cons of a FHA loan vs conventional loan besides the 3.5% down vs 5-10% down. I was pretty immature when I picked up my first real estate but I do recall having to paint a fence in a snow storm during closing for my FHA loan. I'm leaning more towards conventional due to the flexibility in the loan, still shopping though. Any information would be greatly appreciated!

My biggest concern is if I do the house hack and get locked in for 12 months but my job needs to pull me back to work in San Diego, what happens? I am trying to play it safe and do not want to break contract. Another concern is if I purchase a MF that has full tenants, what happens if I have the seller serve 60 day notice or I serve it and they do not leave, I would still need to move in within 60 days correct? I'm pretty sure most FHA loans require one open unit but a conventional may not.

Thank you!