All Forum Posts by: Michael Weisman

Hi Ellie. I just DM'd you from my other BP account (actually didn't realize I had 2, lol). Our team is hiring agents now in the Portland area. We started at KW and now have moved over to EXP Realty, so we can give you a good perspective on both options.

Hi Alex. We've bought a couple of properties at auction in Maine. You can call the property owner, however if it is already heading to auction, probably not much they can help you with. You can search for any liens on the county website in which the property is located. Here is a link to all the county sites:

https://www.maine.gov/revenue/propertytax/transfertax/county.htm#cumb

How much to bring, deposit, etc will be listed on the auction details site (ie it might be $5,000 in cashiers check deposit at end of auction from winning bidder).

Also, check and see if it is a "true" auction. Many properties are listed on real estate auction sites and are not true auctions, and will have a clause like "high bid subject to review and acceptance by property owner."

And lastly, if bank owned, the bank may also be a bidder and very often the last/highest bidder to protect their interest.

Feel free to reach to me via DM me if you have any questions or need any help.

Hi Chad. Just sent you a private message here on BP. I'm an agent with KW and an active investor here in the Portland, ME area. Check out our YouTube channel at http://bit.ly/youtube-realport... and feel free to give me a call.

Both Portland and South Portland have made rules and legislation to curb short term rentals (1 month or less). All short-term rentals must now be inspected, insured and licensed by the city. They must also be "owner occupied," and not investor/absentee owned. Outside of Portland you will not generally run into these issues. A few other cities, for example Rockland have take similar steps. We have a short term rental we run in Richmond and it does well. I also have clients who run rentals in Boothbay Harbor and other coastal towns, and they also do quite well. Feel free to reach out to me if you'd like to speak or help in in finding a suitable property in Southern Maine.

Just PM'd you.

Looking forward!

What's a "real waste investor?"  Autocorrect maybe?  I am a Realtor at Keller Williams and an active investor. Feel free to message here on BP or give me a call.

Happy New Year Everyone! 

Would anyone be interested in having a local meetup at an actual rehab in progress? We have a single family we recently picked up in Richmond, ME, which is now demoed and in the process of being rehabbed for a flip in the spring. We were thinking it might be fun to hold a local meetup at the location, especially for newer investors who have not had the chance to see what an actual rehab looks like in progress.

If there is enough interest, let me know on this thread and I will go ahead and create an "Event" here on BiggerPockets. Since the days are short, and we'd want to keep it during daylight hours, it would probably be on the weekend.

Below are some photos of the rehab:

@Luke Carl Thanks for your concern, but no need to worry! Yes, we have self managed STR's, including one overseas, and have done quite well. As I mentioned in my opening post on this thread, we currently have 3 units here in Maine (one of which just set off it's Simplisafe water alarm in the basement - so having that checked as I type this).

Researching the Nashville market was the reason I posted here to the BP community, and thanks to @John Oden for the warning about the local regulations. I have sent the link with the official licensing process to my partner from the Nashville .gov website, and he'll be the one decide if it is something worth pursuing (and after more research and the input from this thread, my recommendations is probably not, even though he and his property probably could be granted a license). There are also places in Maine that have made unfavorable regulation towards STR's, and we avoid those areas as well (ie Rockland, ME).

Thanks again to everyone for all your input.