All Forum Posts by: Dan Weber

Hey Real Estate Friends!

Our next meetup promises to be a fantastic one, and I can't wait to see you all there.

Date & Time: Thursday, June 20th, 5:30 PM - 8:00 PM

Location: Rising Tide Brewery, 103 Fox St, Portland

Join us for an evening of networking, knowledge-sharing, and camaraderie among fellow real estate aficionados. Whether you're a seasoned investor, a budding entrepreneur, or simply curious about the world of property analysis, this meetup is for you. It is very casual, strictly networking and no formal speakers.

Come prepared to share updates on your projects, seek advice, and forge meaningful connections with like-minded individuals. Together, we'll explore opportunities, tackle challenges, and celebrate successes in the dynamic realm of real estate.

Don't miss out on this incredible opportunity to expand your network and knowledge base. Mark your calendars, spread the word, and let's make this meetup a memorable one!

See you there!

https://www.meetup.com/southern-maine-real-estate-investors-...

Cheers,
Dan

@Jesse Brooks partner/cosigner will definitely be your path of least resistance. Another option that I've seen in the local market is purchasing a heavily distressed or big rehab project with a local hard money lender that will allow a smaller downpayment due to the amount of equity in the deal on the back end. Purchase, rehab, rent it out and then refi with a commercial mortgage. For this to work, you'll need at least 20% equity in the property on the back end through your forced appreciation on the rehab. Many HML may not do 3-5% down but if you could save up a little more, maybe 10%, it could fly. You may also be better off looking in some less expensive markets in ME like Augusta or L/A for these types of deals since your downpayment will stretch a little farther.

@Jagger Boyer get connected with a good property manager on the ground here and you'll do just fine. Shoot me a dm with what areas you're looking and I can recommend a couple of PM's to connect with.

Hey Real Estate Enthusiasts!

Our next meetup promises to be a fantastic one, and I can't wait to see you all there.

Date & Time: Thursday, May 16th, 5:30 PM - 8:00 PM
Location: Après, 148 Anderson St, Portland

Join us for an evening of networking, knowledge-sharing, and camaraderie among fellow real estate aficionados. Whether you're a seasoned investor, a budding entrepreneur, or simply curious about the world of property analysis, this meetup is for you. It is very casual, strictly networking and no formal speakers.

Come prepared to share updates on your projects, seek advice, and forge meaningful connections with like-minded individuals. Together, we'll explore opportunities, tackle challenges, and celebrate successes in the dynamic realm of real estate.

Don't miss out on this incredible opportunity to expand your network and knowledge base. Mark your calendars, spread the word, and let's make this meetup a memorable one!

See you there!

Cheers,
Dan

Maine, Portland, Biddeford, Saco, Westbrook, New England, Brunswick, Bath, Midcoast, Lewiston, Auburn, Old Orchard, York, Kennebunk, Sanford, Augusta

@Aaron Bard ask the HML if they will put a second lien on your other property in lieu of a downpayment. Some lenders are willing to do this for a really great deal. If they say no, reach out and I will connect you with a couple HML that may be willing to, depending on the deal. I would just make sure that you can qualify resi/commercial financing on the back end so that you don't get stuck in the hard money loan.

@Martin A Phillips shoot me a private message and I will send you a real estate attorney I've used in the past.

@Filipe Lema come hang and network with other investors in a couple weeks at our next meetup:

https://www.biggerpockets.com/forums/521/topics/1182656-real...

@Kevin N. Saisi that sounds great! I just shot you a message.

I don't have any super helpful suggestions as I have never invested abroad. However, this is an awesome opportunity and I'm jealous! If the costs exceed $200k for the total project, could you do renovate one unit at a time? Renovate the bottom level, rent it out for a bit and recoup some costs, then renovate the upper level at a later date? 

Hey @Dan Adams, ADU's in Portland are still a newer topic and builders are the ones who are savvy enough to have figured out the rules to market to homeowners efficiently what they can offer. I'd highly suggest coming to one of the local meetups to network with other locals that are interested in doing this. Here's the info for our next meetup:

https://www.biggerpockets.com/forums/521/topics/1182656-real...