All Forum Posts by: Nicholas Herold

@Mike Lambert All great points! I do love the area. 

Nicholas

@Mike Lambert. Thanks Mike. To clarify, I am not assuming that the market is still headed down. I am not qualified to make any assumptions about the real estate market in Mexico, the only market I'm familiar with is certain areas in New England, and there are many micro-markets here I wouldn't make any assumptions about. 

My entire point point is that it is certainly possible that the market is still falling, and to illustrate this, I am demonstrating that I am voting with my feet--I am not planning to visit Mexico as a tourist this fall, despite the likelihood that I will forfeit the fare. As a tourist, I don't feel like I will be able to ensure that my family and I will be safe. There are plenty of yahoos in Maine who don't feel they need to wear masks, both customers and shopkeepers, but I know that I can choose to buy my staples elsewhere. When will I go back to Tulum--an area that I adore? We'll see. I'm not willing to risk myself and my family. 

Am I unique in wanting not to increase my risk of being exposed to a deadly virus? That's unlikely.

@Mike Lambert. Good points, despite being a bit snarky. Since the investor will be paying cash, it's a different ballpark, and one that I've never played in. That being said, there are more points on a curve than the bottom and the top. I think it depends on your appetite for risk. I prefer to make my investments when the market is going up, not going down. You pays your money and you takes your choice. For example, I'm not going to invest in single family properties right now in Maine both because because the prices are high and also because I want to have cash when the market seems to have bottomed out. 

I have tickets to go to Mexico in November.

I'm not planning to use them....
https://www.nytimes.com/interactive/2020/world/americas/mexico-coronavirus-cases.html?auth=link-dismiss-google1tap

What does the investment look like at a 75% occupancy rate?

I'll miss you all! Have a great time. I'm attending the Southern Maine Landlord Association Meeting.

Nicholas

I've had good conversations with Bangor Savings and Biddeford Savings. I have good experience with Jason Straetz at Gorham Savings. 

I've also had not-so-good conversations at Norway Savings. 

@Kristine W Taylor I highly recommend attending one of the Southern Maine Real Estate Investors Meetup. 

I'm now looking for a 3 or 4 unit in Biddeford - Saco to house hack.

I look forward to seeing folks there!