All Forum Posts by: Jon Hyatt

Our professional Property Management company manages over 300 units in the Greater Bangor Area, delivering exceptional service and results. As licensed Brokers, we specialize in helping out-of-state investors achieve a higher ROI than in their local markets. For instance, our College Market consistently offers impressive returns. Having multiple Universities and Colleges in the area provides many housing needs in our area, providing our investor's with consistent returns on their investments.

By providing both Brokerage and Management services under one roof, we streamline the investment process, saving you both time and money. Investing long-distance has never been easier. Let us guide you to profitable opportunities in the Greater Bangor, Maine market.

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Hey @Amy Perry - we have a full service property management company with over 300+ units in the Greater Bangor area of Maine. We take advantage of the higher ROI within the college market, having multiple universities and colleges in our area. I'm also a licensed broker, consistently staying on top of the market, property value's and finding off market deals for our Property Management Clients.

Check us out and consider investing here in the greater Bangor, Maine area! 

We own and operate a local Property Management Company in the Greater Bangor, ME area. We're also licensed brokers that invest into our market. For those Investors looking for Long Distance Investing, wanting good returns, low risk and professional management services in place, look to invest into our Greater Bangor, ME market. We also provide Management Discounts to those Investor's who utilize our Real Estate Brokers Licensing.

I'm up in the Bangor, ME area - feel free to ever reach out - I invest - am a licensed broker - own a property management company

Pretty simple. I saw the auction coming online soon, went and poked around the property, trying to get a sense for condition, ended up running into a neighbor who gave me a history of the property, the previous owners, general condition, etc. I was able to get enough of a sense of the condition to run some rehab numbers, adding in safety nets. Then you just watch the time clock and the bids. I won mine within minutes of someone else’s biding. It was what looked like a 3 way bidding right until the end. Then once you win the bid, you begin the underwriting process with the bank and go through their process. Once all is said and done you cut their lockbox and get into the property. Any questions go ahead and send an email - We use a great software for running numbers to we can be pretty confident in our bidding.

Investment Info:

Single-family residence fix & flip investment in Hampden.

Purchase price: $55,000
Cash invested: $90,000
Sale price: $140,000

This is a Single Family property that would work well as a FLIP or a BRRRR. We opted for FLIP for this one because our market has been very active.

What made you interested in investing in this type of deal?

This was a property that would work as a rental or as a flip, giving multiple exit strategies.

How did you find this deal and how did you negotiate it?

This was an Active Listing on MLS, I submitted a site-unseen offer and got it UC right away.

How did you finance this deal?

Private Money Loan.

How did you add value to the deal?

We replaced the windows, floors, new paint, new bathroom and several other updates throughout.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $45,000
Cash invested: $65,000

This is a Single Family property that we acquired out of an online auction, added a new bathroom and a few other minor updates, the majority of the home had just been updated in recent years. We were able to have our Management Company, SI Associates, secure a terrific tenant, we refinanced 100% of our funds back out + additional funds towards the next project.

What made you interested in investing in this type of deal?

This was a great property that could work as a FLIP for our RE Team or as a Rental for our Management Team.

How did you find this deal and how did you negotiate it?

This was an online auctioned property at auction.com

How did you finance this deal?

Partnership

How did you add value to the deal?

We added a new bathroom, most everything else was already updated and just needed a deep clean.

What was the outcome?

We refinanced 100% of the funds back out + capital towards the next purchase. The property value has continued to go up and we continue to collect money income from this.

Investment Info:

Single-family residence buy & hold investment in Bangor.

Purchase price: $55,000
Cash invested: $75,000

This was a single family home that I did a BRRRR on. I purchased with cash, did a small renovation, then the management company I own filled it with a qualified tenant and we then presented the new value, new lease/income to the bank and refinanced 100% of the funds back out.

What made you interested in investing in this type of deal?

Was a great off market, vacant property. It could have worked well for a Flip or a BRRRR. I look for single family properties that I can flip to my RE Team at Keller Williams or that I can BRRRR with my Management Company, SI Associates. This deal had two great exit strategies.

How did you find this deal and how did you negotiate it?

This was an Expired MLS listing that I called with interest to purchase. Met the owner at the property and learned their motivation, their reasoning for needing to sell and what was most important to them. The property had been a headache for them for the previous year, having squatters there after they had someone living there for free just to care for the property. Long story short they had some debt tied to the property, we were able to pay that off for them, plus a small extra for them.

How did you finance this deal?

Private Money loan using a HELOC on a 3rd parties residence.

What was the outcome?

I refinanced this and hold it as a rental today, the private money loan was paid off in full + interest earned. That private lender was happy with the transaction.

I am going through public notices, finding pre foreclosures in my area and want to start calling on some to feel out the owners. What are some soft scripts you use when calling for the first time? I of course don't want to be offensive and understand it's a difficult time for them but still need to be able to investigate to see if there is anything my company can do to help create a solution for their situation.