All Forum Posts by: Lisa Sessions

Dan McDermott there's a southern Maine REI meeting tomorrow April 25th at 6:30pm. They are held at the office of Trek Realty-320 Ossipee Trail W in Standish. Cost is $10.00 per person.

@Edmund Ricker Thanks for your thoughts and advice!  You're right I'm a bit low on my expenses. I did just figure 10% total for Repairs and Cap Ex.  I will use the 10% each next time.  

In regards to Portland, I'm looking for an area that attracts people to live and work. A place with a large employer base.  I was thinking about Gray/New Gloucester (my backyard) initially, but there no large or multiple employers in the area to draw/attract new renters.  

Have you worked in the Windham or Gorham Area? Thoughts on those areas?

Hi looking at a duplex in Portland near rosemont neighborhood List: $320,000 Rents:$1200/unit Tenant pays all utilities, plowing and lawn care Fully rented Good condition but in future 5+ years will need a roof Taxes: $4300/year Vacancy rate is 5% for the Portland Area I'm thinking of offering $300k, I'll put 20% down (or partner if needed) My analysis $240 month for Maint/cap ex $1618 PITI $120 vacancy If I manage myself I'll cash flow $422 or $211/unit Or: $192 (8% property management) I'll cash flow $224 or $115 if managed by a professional What am I missing? I don't have all of the $60k so that's the next step... Another question how much do you keep in reserves for a place like a duplex?

Steven Stokes , thanks for your insight. I too, thought perhaps millennials is too broad. Thanks for the link to the buyer persona. Definitely helpful!

David Thompson thanks for your thoughts. Great points! Very thought provoking!

I listened to a podcast talking about millennial renters. They are becoming the largest generation! They are more apt to rent then buy a home. They like apartment living close to work. I want to break into the millennial renting niche market. (Is that even a thing) How do you attract those types of renters. My ideas so far -purchase small to medium multi families in metropolitan areas -use "smart" devices like keyless locks and smart thermostats -community space either inside or outside -host community events like BBQ -use online payments methods /maintenance requests Any more thoughts?! Suggestions?

Hello! I'm Lisa! I'm from Southern Maine. I'm just beginning into the REI world. My plan is to buy 1-4 units properties within 30 min drive of my house in the next 90-120 days. My plan is to buy property that is close to rentable (little rehab) Some quick questions... How do you own your properties? LLC? Do I wait to get my team (plumber/handyman etc) together or buy a property first? Just trying to figure out what to do first... Thanks!