All Forum Posts by: Robert LaRoche

Hey @Zachary Taylor 

Thanks for reaching back out and sorry for the late response! Crazy you made two full cash offers and got denied?? Ive had similar expereince but I havnt even been able to make an offer. There have been three places that I saw the day they came on the market and asked my realtor to set up visits but before I could get in they were already sold! I for sure dont have enough exp to make a deal sight unseen just yet so Im just sticking to my process and letting things play out some more. 

Id love to get your feedback on a couple of the deals that Ive analyzed? See if Im atleast on the right track?

@Zachary Taylor That was some really great insight and its very much appreciated. I have a few follow ups on your points... 

With the mills, with a new one ready to open up and with so much space in it my assumption is that it will drive rent prices down in the short run. That being said, how do you (or anyone really) think that will affect the area in the long run? My thoughts are that its another step toward the area cleaning up more and getting nicer in general... maybe that will have some affect on appreciation? 

In terms of the quantity of inventory, that was an exact thought I had but had yet to take that extra step like you to check things out in person. It seemed interesting that there is so much on the market there but really no where else in southern maine. Im a glass half full kindof person so I wanted to lean toward "maybe that just means opportunity?" and only after extensive due diligence. 

Again I really appreciate your insight on the area! 

Robert -  

Tammy and Dave, 

Thanks so much for your responses. That was some really great, sound advice and gave me a lot to think about moving forward! 

Best

Robert - 

First post ever... go easy on me! 

I live in southern maine and Im just about ready to break the ice with a first purchase. The over all strategy/goal is buy and hold multi families. My wife and I want to ease into investing so weve decided to do that by buying a multi, living in one unit and rent out the others.  Ive been looking around at different markets in my area Ive been practicing analyzing deals so as to better educate myself in general while also trying to better understand my surrounding market. 

Heres my question... for those folks who know Maine and Southern Maine, is the Biddeford/Saco area worth seriously considering especially for the first go around? It does have a bit of a tough reputation but my wife and I are no strangers to things being rough around the edges so I dont necessarily mind a certain amount of that. As far as Southern Maine goes I feel like its in a solid location in terms of proximity to Portland and Portsmouth while also having UNE close by and the entry prices are pretty good considering what it takes to be closer to the portland area.  Am I crazy for considering and should just move on or is there something to it?

Anyone whos had experience in this area I would love to hear about it! 

Best

Robert - 

What a welcome! haha I should have joined this much sooner

Looking forward to bringing something more to the community down the road 

Hey Matt! 

Im actually originally from NH, Exeter specifically and I stayed in Maine after I graduated from college there. 

That makes a lot of sense and I really appreciate the advice. Ill look to do exactly that and if you dont mind... keep you posted on how things go and what Im noticing? 

Thanks for reaching out!

My names Robert and Im new to biggerpockets.com but not bigger pockets in general... 

Ive been listening to the podcasts for a couple months now just getting a feel for things about biggerpockets and everything Ive heard so far has been awesome. 

I live in the Southern Maine area and really know nothing! about real-estate other than what Ive learned so far from the podcasts. The areas Ive really gravitated toward so far are buy and hold multi families. So far that seems like the area that most fits my interests, style and goals. 

Im planning to take the next several months to read some of the books that get recommended by guest on the podcasts and the hosts and also just try to "run some numbers" on some deals for practice so I can build my knowledge base before taking that first big step of my first deal. 

Mentorship is something I really value and is something I look for in all areas of my life both personal and professional. Im fully ok with the fact that Im not the smartest person in the room ever but confident that with the right guidance I can be successful. I am very much looking forward to getting involved in the community and hopefully someday being able to give back as much as I got. 

Robert -