All Forum Posts by: Jeremy A.

 It can be done even during inflation I just did the same thing in maine. On mls i saved $20k off  5 unit by offering cash offer from hard/private lender with no inspections no appraisal closed in 30 days. I dont recommend doing no inspections no appraisal on first deal unless have correct skill set or experience in trades, worked in basements attic etc, find and buy units with most extra space for lowest price in best location that can be utilized or converted into bathrooms, kitchens bedrooms, full or  adding to current units, etc. Max out the building to get max appraisal etc borrow funds with purchase to upgrade rehabbing by adding cash flow adding value. 

also converting 3 unit with attached shed into  4th apt in maine. Find good master  electrician and plumber hvac poc beforehand as trades is most expensive part but pays in dividends. look for  town sewer unless got land to add to tanks as conversion is much easier to go from 2-4 units on public than private sewer/water. Added 3rd 4th bed to 2 bed with attached unused storage rooms, sheds, carriage house etc. Look for and Convert attached barns garages into insulated heated liveable spaces. 

Always crunch #s

Oil was biggest expense now its note/taxes/insurance. I Simply switch over all tenants to own propane rinnai or heat pump or electric baseboard. I don't pay heat or electric and allow 2 fixed pets with fee, charge for common laundry access no individual in units and only buy used appliances avg $400-475 per door

Dont forget cash is not fixed value nor is going up in value just opposite.  Your buying power going down faster esp with idiots in govt  who borrow like theres no consequences.

transfer cash into asset via purchase of investment rental quickly.

study market enough to be prudent but not cause paralysis. Act on best deal. I prefer to create more value by buying building with lots extra unfinished spaces or big dry walk out basement walk in attics, attached barns etc adding bedrooms increases cash flow quicker cheaper than extra bathrooms and adding entire apartments great too. Find master plumber master electrician in area just as you would accountant or lender. Let them give you quote while you in due diligence phase.

I have very efficient  rinnai furnace installed in non bedroom rooms. And can use baseboard electric heaters too supplement in bedrooms.

12% interest, 1year, 3 points. Credit back within 4 months, refund 2 points, 8 months, I’ll refund 1 point.

160k buy 3 unit.

$89,400 purchase 

$50k repairs 

any maine private money lenders beat this offer please pm me . I got 800 credit score, 400k equity in 10 unit next door need  buy  3 unit fix up and rent. Heres shot of 1 yr interest only note offer. 160k. 

Any one currently close on cash out refi on apartment buidings or commercial property in maine

any lenders in maine offer loan on primary purchase based on 2021 self employed bank statements, purchase contracts,  and non tax return docs?

I use rentometer, maine housing sec 8, to get 50% of fair housing rates, and in western Maine avgs 1 bed $750, 2 bed 850 3 bed 1100, 4 bed 1300. 

taking longer to find consistent emoloyed qualified prospects due very low credit, no verified 3x rent  etc

Explain process of getting money from tenants thru small claims court? Hard easy? Lots pictures of damages convince judge?

do get blood from turnips in maine?

Yes indeed. 

sad how far Maine has fallen