All Forum Posts by: Ed Emmons

In Maine you would have to go through the eviction process. If there is no lease you can serve a 30 day notice. It isn’t a big deal but I would reserve a court date as soon as you serve notice as they are backed up. You can always cancel the date if not needed. Many times the people will leave. A bigger concern is the damage that they could do on the way out. Often times they are vindictive so figure that into your bid. I usually try to talk to the people before you bid to get an idea of their attitude. You can go on to pine tree legal web page for eviction process. The timing of notices is critical. If you follow it exactly you will win if not you will lose.

Weren’t you up in the Bangor area a few years back? I did a few deals with someone by the same name? I’ll help where I can.

You will want to have someone locally look at it unless you want to make the drive. If it has been vacant over a year several towns up here won’t allow it to be anything but a single family. If it is listed and really cheap, it may be a tear down as there are a lot of investors that comb the mls. If it is anywhere near Bangor, I know the area well and am not buying. So if you want to pm with with more info I may be able to help more.

Depends where in Maine they are located.

Try calling for rent ads and see if owner has an interest in selling. I bought 3 mobile home parks that way. Also uncle Henry. I bought at least 50 units off that. Go where others aren’t looking.

If the area has more than 5000 people there is probably real estate deals to be found. Do I would say move to where you want to be then find the real estate. Climate, population, stress level, schools, recreation opportunities should all be considered. I guess the only restriction I would say that in real tenant friendly states you may want to avoid if you are going to invest locally. I moved to central Maine from CT because I wanted less stress, plenty of opportunity here as well.

@Wale Lawal is right on. Learn from those who have actually done what you want to do. There are many on here with no real experience that will parrot what they have heard. I was told by a rep for Lender One Financial that they can do less down on 4 units and under. Call to verify Julianne Benson 508-615-9743. I believe they have an office in portland.

Wholesaling per se is a little more difficult in Maine.  
you almost need to find an attorney that is favorable to the idea ahead of time. But if you have deals in the Bangor area I have a network of people that would be interested in buying from you. They will pay a finders fee which is basically like wholesaling in other states.