All Forum Posts by: Michael Picher

@Aaron Harris

Hey Aaron. Welcome. There's a southern Maine bp Meetup in Brunswick this week.

I'm hoping to get there, we'll see what the week brings though.

Mike

Excellent numbers Rylee! Great job!

You know, since we got running water last year, things are really looking up. I'm in the Augusta / Waterville market...

I didn't have a tough time getting a loan through my LLC. There's a personal guarantee on it of course. My local bank (who I've had my personal Mrtg's through since 1994) was a breeze to work with. With commercial loans you aren't going to get the rates / terms you'd get with conventional mortgages, but you aren't limited to 3 mortgages. Right now my local is doing a straight 20% down and 5.5% for 20 yrs. Sounds like you have that ability and I'm sure you could find a similar deal. Find a local bank to work with.

Daniel,

Taxes were included in his numbers (piti = principal, interest, taxes, insurance).

Mike

@Jay Hinrichs it's a great place to live and raise a family...  if you can make a living ;-)

@Ed Emmons where abouts is this? I'm around Augusta area.

Solo / Simple 401k is a self directed 401k that you can borrow against (depending on who you use for the plan). Self Directed IRA is a bit of a different beast.

@Jonathan R. I've been toying with the same idea...

@David Dachtera yes, plus you can loan yourself money and pay yourself back with interest. Be your own bank! 1/2 of your 401k or 50k whatever is smaller... Up to 100k for a joint Solo 401k.

Only gotcha is a 5 yr payback.

Longer if it's your permanent residence...

Mike

@Michael Weisman not sure if you guys did this yet or not, but I'd be interested! Richmond's not far for me.