All Forum Posts by: Robert Nason

Are use the Allure luxury vinyl plank sold at Home Depot in all of my apartment buildings.

Code enforcement officers will help. How about a big fence or trees

We use a combination of agreeable gray and light cream colors that you can buy at Lowe's

I have been investing for the past 20 years but it's always been a flip here or a flip there or an occasional commercial building. The last five years since I've turned 50 I purchased nearly 30 units. Interest rates are going up, but money is still cheap. Get into the game

I love this thread! I am currently in the middle of renovating a 4500 square-foot building in the heart of Kennebunkport Maine into five luxury apartment rentals. Each will be between 700 ft.² and 1200 ft.² In the high season of June - August, occupancy in Kennebunkport is 95%. In the off-season I can expect an occupancy between 40% -50%. Each unit will come with two bedrooms, two bathrooms and full kitchens with high-end finishings. Large living area, flat screens TV's gas fireplaces etc etc The Airbnb people tell me I can expect between $300-$500 a night in season and between $200 and $400 off-season. My all in cost including purchasing the building and construction is a little over $1 million. Cap Rate of 11 and cash on cash return around 30%. Seems to good to be true!!

Kimberly Jones Consider reclassify to an Inn or bed and breakfast. Worked for me on a property I own in Maine. Your zoning maybe different

Your bank typical will not including the income from that unit as part of their evaluation as it is an illegal unit. You should see what can be done in terms of creating a second means of egress that would make that unit a legal one. I know in Maine you can buy egressed windows that would serve as a second means.

I agree with Shal Patel 100%!!

Try LoopNet

I would not give it a second thought. Letter intent is not a binding contract.