All Forum Posts by: Dave Holman

@Jill Schofield Looks like Meetup did remove you two so you're all set, thanks for letting us know so people on the waitlist can come! Best,

Dave

Sounds good @Jill Schofield! Be sure to sign up via Meetup.com because we'll be in a 14-person private room and we've got 9 registered already: https://www.meetup.com/Midcoas...

Thanks for the feedback @Cody DeLong! I have two toddlers, so evening time is precious and this lets everyone keep work and home time separate.

Feel free everyone to bring a friend who might be interested! We'll have a good mix of people from Portland, Brunswick, and Midcoast Maine on the flipping, investing, brokering, management and finance sides. Many are replying but please remember to actually RSVP in Meetup here: https://www.meetup.com/Midcoas...

@Eddie Gonnella

I live in the exact house you describe: 4/2 1700 sqf with two heat pumps (and an electric car I charge). My total annual energy/electric bill would be in the $2000-$3000 range (solar reduces it). Install cost for heat pumps was $8k (though each has a $500 rebate). Controlling for most variables, I think heat pumps are slightly less costly to operate than natural gas but a lot depends on what you think gas and electric prices will do over the next decades. Electricity is very overpriced in Maine whereas gas is currently relatively cheap, so I feel like there’s more risk in assuming gas prices will be stable than electric in the long run, which may actually fall if we get a better grid and generation situation. Both are better than oil...

@Account Closed This is a common myth. That may have been true for some older mini-split systems where one condenser served multiple heads but modern heat pumps don't use resistance and are usually rated down to -13F (though again, I've seen them pull heat out of -25F air very nicely). What is true is that the colder the ambient outdoor temp is, the less efficient they become, so I've had electric bills in the $200-$350 range in the coldest months (far less than if I was trying to heat with electric resistance). https://www.mitsubishicomfort....

@Brendan Stratton @Mike Roy Great conversation. Here's my sermon. Heat pumps are 100% better than boilers, furnaces and any other heat source. Why? Well I've personally lived with them as my ONLY heat source for 6 Maine winters and stayed a toasty 70F when it's -25. No, my house isn't a mega-insulted passive-house, it's a 1987 riff on a cape with the original windows and an insulated attic. I have two Fujitsu Halcyons on the first floor of my 1700 sqf house and NO heat source on the second floor and it's always at least 65 upstairs when it's 70 downstairs in the dead of winter. I heat an entire 1200 sqf rental with ONE heat pump and that's worked great for the past 3 winters. I heat a 7 room office with 2 heat pumps. In the rentals, I do install baseboard electric in far away rooms as backup and extra heat if people want to close doors etc. and I prefer to leave legacy heat sources like furnaces in place in case all else fails. Lots of people (ironically, many HVAC and heating 'specialists included) who've never actually tried using them as base load heating will tell you it's not a good idea. For residential contexts, they are wrong. BTUs are BTUs. Solar panels and a clean grid combined with heat pumps is 100% renewable whereas oil gas and propane are destroying our planet at an ever-increasing clip. Plus heat pumps provide AC, dehumidication, air filtration, dust/pollen removal, programability, wifi smart home etc etc. Plus they come with awesome rebates from Efficiency Maine, they can't explode and don't get their fuel from fracking or Middle Eastern monarchies. Two or three heat pumps cost about the same as a boiler, cost less to operate, come with 10 year warranties and provide way more value for residents and planet Earth. Amen.

Thanks @Bob Langworthy, I've actually worked with Justin before. Unfortunately, Mechanics only does owner-occupied 30 year fixes.

Anyone recommend a Maine-based community bank or financial institution that offers 30 year fixes for *non-owner occupied* 4 unit properties? Thanks!