All Forum Posts by: Harrison Smith

@Cody DeLong Welcome to BP! It's a great community filled with information.

I am an investor, developer, and Realtor in Southern Maine and am always happy to connect with fellow investors. I live in Biddeford and work out of Scarborough, but I am always open to grabbing coffee, lunch, or a beer and discussing things. If I can help in any way, please let me know. 

@Derek D. One of the companies we own is a PM company, based out of Scarborough. If you would like to discuss this area, then please feel free to PM me. 

Please let me know if I can help. 

@Lewis Christman I am a Southern Maine investor, developer, and Realtor. You can message me to connect and I would be happy to discuss opportunities with you and go through your questions. 

My company owns a construction company, PM company, and nearly $100MM in assets around Greater Portland. I would be happy to discuss anything going on in this market or compare perspectives on deals anytime. 

@Pat Jackson It's a fair observation. I am in Southern Maine and we have markets like Scarborough that have almost no small multifamily units and then areas like Biddeford that have tons of them. It has to do with a lot of factors, but I am finding mainly population composition. In a market with lower overall incomes you tend to have more renters, which means the demand for those units is much higher so the returns can be much higher (especially if you convert like @Ryan Murdock mentioned). In other markets with higher incomes, you see more owners and the demand for rentals is low except for at the entry level where apartment buildings are better because they are cheaper to construct on a per SF basis so you can take lower rents for smaller units and make it work. 

That is a big reason why analyzing the market and its socioeconomic and demographic trends is so important, those trends can tell you everything about what to expect. 

@Sarah Camic Welcome to BP! It is never too early to explore financing as that is usually the biggest hurdle in the whole process. I am a Realtor, Investor, and Developer in Southern Maine and would be happy to connect you with some great resources as soon as you are ready. If I can help in any way, then please don't hesitate to reach out. 

Hi Daniel and welcome to BP. I am involved in all aspects of real estate in Southern Maine and would be happy to share any info of value to you. Are you interested in how to advertise for or screen tenants? Depending on your area and property that answer could be different.

@Caleb Stephens Welcome to BP! It's an amazing resource for any investor and a great place to get started. 

I am a realtor and investor in the Saco/Biddeford area and I am always look to meet and network with fellow investors. If I can help in any way then please let me know. 

Best of luck on your journey!

@Trainor Kapler Welcome to BP! Where in Southern Maine are you investing?

I am a local realtor and investor and I am always look to meet and network with fellow investors. If I can help in any way then please let me know. 

@Grace Barstow I have a couple of great mortgage contacts that work with these deals often. I am not sure who you are using but would be happy to share some other contacts with you.

I am a local Realtor and Investor and would be happy to help you in any way that I can. If you are looking for contacts, ideas, opinions, or help in finding a property then please let me know. 

@Kyle Jenkins The Saco/Biddeford area is very active right now. 2, 3, and 4 unit properties come on the market and go under contract quickly. The rents have moved up and there is a lot of activity in the area. If you are interested in discussing further, I would be happy to connect. I am a Realtor in the Saco/Biddeford area and the CFO of a real estate holding company that owns a property management company (among other things) and could give you a well rounded perspective on what to expect in this area.  Best of luck on your search, I would be happy to help in any way that I can.