All Forum Posts by: Garret Getch

Hi Brad!  

  If you can afford it, I would recommend a Triplex or even a 4 unit; because you are mitigating your risk and likely increasing your cash flow. By having more tenants there are more eyes to watch for issues that may pop up, more people paying rent, and if you have one of the units vacant for a bit, it will not hurt the bank as bad as it would if you only have two tenants in the building and one of them left.
  If you are planning on investing in Maine, make sure you work with one of us realtors that understands investing and knows the local market so we can advise you properly. It may look like a cheap 3-4 unit, but if it is in a place that is known for high turnover or other issues, then it may not be worth it. Having the right team locally should be very important to out of state investors.

I highly recommend Bob Langworthy of “Maine Bean Counters”. If you contact me, I can send you his information.

Hi Ivan!

Send me a private message, I may know someone who can help you.

I look forward to hearing from you!

Hey Candor,

I just sent you a connection request!  I would love to help you in the investing game.  Reach out to me with any questions you have and I would be more than happy to help!

Hello Marc,

I'm an investor in the area and help folks with buying and selling investment properties.  Have you gone to any of the meetups to start talking to others in the area? I work everywhere from the Lewiston Auburn area all the way up to Augusta and a lot in between.  What kinds of properties are you looking to invest in?

This is fantastic to see!  Keep up the great work and keep pushing forward!

There are lots of opportunities here in Maine. I like the glamping idea on a large wooded area like you described and even the A frame style houses would like nice. Throw in some snow mobiles, 4 wheelers, and fishing gear and I think you have exactly what Vacation land needs. I have also talked to several newer investors from BiggerPockets about expanding the Tiny House community here. I suspect a lot of the same philosophy that you would have with glamping would apply, while also allowing people to visit on a short term and learn more about Tiny House living. There are tons of opportunities up here in the northeast for investors and the fix and flip market is growing, I'm currently in the middle of a BRRRRR situation myself with a fix and hold for a single family residence. Maine is a great place to invest because it isn't overly saturated with other investors and the prices are still right.

@Thomas Giggey 

Hey Gary!

Nice to meet a fellow investor in the Great State of Maine.  

Leveraging in Real Estate, especially right now, is always a wise idea.  Unlike other forms of investing, this is an asset that you can reach out and touch, is in your control, and never loses its value completely (though of course markets go up and down, but real estate is never worth $0).  That being said, most financial planners tend to focus on diversification above all else and are trained to think that way.  I was watching an interview with Kevin O'leary (Sharktank) where he was making the same observation to a young investor and how he personally wouldn't leverage as much in real estate as that investor was doing; however, he ended the conversation by saying that we do invest in what we understand and that investor, that Kevin was talking to, had been a real estate agent before so he understood that form of investing.

We shouldn't put all our eggs in one basket, but I would definitely target real estate as a prime place to put your finances for long term wealth and growth.  Sadly, every financial planner is going to say the same thing and that is where you smile and thank them for their opinion and do what you ultimately believe is correct for you and your family.

I agree with Michael about wholesale on-Market properties, especially since there is a listing agent involved.  You basically are trying to practice real estate without a license in front of a person who has a license, if I am understanding your situation correctly.  That being said, as a realtor here in Maine, I may be able to assist you in what you are trying to do.