All Forum Posts by: Harrison Smith

I left my corporate job and jumped into real estate full time. I partnered with a long time friend and fellow agent to take our existing real estate team into two new states while also closing in on becoming the top team overall in our home state. I bought 3 properties this year and am looking at deals consistently so that I can continue to grow that number. I am in control of my time, my energy, and my income and its been the most liberating feeling of my entire life. 

I would contact Corey Scott and talk to him. He might have some good options. 

Welcome @Cory Kalin. You have a couple of good markets you are working in right now. They move fast but can create some strong returns. We cover the entire state as agents and cover Southern Maine up to where you are as PMs, so if we can ever help then let me know. Always happy to connect with fellow investors. 

Absolutely. I have one fix and flip in progress in South Portland and just put another one under contract just north of Portland. I have appointments to see 2 three unit properties on Friday. I am looking at a minimum of 1 deal a week right now, there are lots of sellers thinking about unloading these distressed homes while there is still some equity. The deal flow is very strong right now and has been for the last year or so. 

I always offer 0% interest with a slightly higher purchase price. This saves the current owner from paying taxes on interest income and keeps your overall cost down. If they want interest, then I try to stay under 4%. There is value in having the owner carry the loan rather than a bank, where you have all of the closing costs, credit reporting, appraisals, etc. These "off the books" loans are very valuable so I will pay a little more to the owner to make it attractive enough for them to offer it. Refinancing down the road is always an option. 

Hey Daniel, I would highly recommend consulting with Nick Morrill at Jensen, Baird, Gardner, and Henry or Drew Anderson at Murray, Plumb, and Murray in Portland, Maine. They are great at operating agreements, partnership terms, and Maine real estate laws. I would recommend an attorney in Maine vs. California since real estate is handled very differently in Maine compared to California. The process and requirements are significantly different and having a local resource would be in your best interest. Happy to discuss further or make an intro if that would be helpful. 

Hey all, Maine based agent and investor here. Always looking to connect with fellow investors and mastermind about real estate. 

I feel like the world is crazy about tokenizing everything, but haven't REITs been offering fractional ownership of real estate forever? All of the tax benefits and distributions flow back to the investors, effectively making it fractional ownership. Tokenizing may modernize this platform, but I don't believe there is anything new with the concept. It has always worked well for some investors and will continue to do so. 

Hey Eric. We have a management company and are located in Scarborough. Would love the opportunity to talk with you and your girlfriend 

I am looking to connect with an agent or two that also has their own mortgage and/or title company. How is it working for you? How did you get it started and set it up? What were the major learnings?