All Forum Posts by: Sarah Camic

@Katie Magoun thanks for taking the time to look at my analysis. We are planning to live in one of the units. Right now, our focus is saving up as much as we can in the next year to prepare for all of the costs you've described. We appreciate the encouraging words. I will definitely keep practicing analyses, especially with this information in mind. 

Thanks,  @Carl Hebert, I'll make the adjustments.

Thanks @Ed Emmons for the vote!

@Harrison Smith Thanks for the recommendation. 

@Bernie Huckestein and @Ryan Murdock Thanks for the tips. Saving for R&M/Capex is our priority before making any offers. Your input will undoubtedly be helpful for future analyses. I appreciate you taking the time to look it over.

@Ryan Murdock this is a recent analysis, thanks for your input. This property is in the Waterville area.

"Well maintained 2-unit apartment building in quiet residential neighborhood. Large lot with nice yard for gardens w/outbuilding. Many updates throughout (see attached general information sheet). Come check out this great investment opportunity or move in as owner-occupied and let tenant pay your mortgage for you."

Some of the figures seem unrealistic based on what I've learned about Cash on Cash ROI and monthly cash flow.

Good morning,

I am looking for some input from landlords in the central Maine area. 

In an effort to practice property analysis I need some monthly expense figures.  How may units do you have? About how much are you paying monthly for: electricity, water & sewer, PMI, garbage, HOAs, monthly insurance, and management fees (and anything else I left out)? Any additional helpful information is welcome.

Thanks in advance.

Hey all!

My fiancé, Nick, and I are going to be making our first big move in investing within the next year. We are planning on buying a 3-4 unit multifamily in Maine and house hacking for a year. Right now, I am unsure of when to get pre-approved. I have been working as a teacher for over a year. I am worried that we might run into problems getting pre-approved because Nick has been a student for the past six years. He will begin his dental residency this summer. I am worried that since this will be his first paying job that we will not be pre-approved. Will lenders consider his income potential when considering us for pre-approval? Also, do we need to have a specific property in mind before we seek pre-approval? I am looking forward hearing your advice and experiences.

Thanks, 

Sarah 

Thanks @Ryan Cox for the welcome!

@John West and @Bob Langworthy, it's good to hear from investors that like the area. I am really looking forward to moving there. 

Thank you @David Marshall for reaching out. I am full of questions. Will be sending you a PM. 

I have been a member of Bigger Pockets for a few months and really enjoy reading about peoples’ first deal. My primary focus for the past months has been education; I am reading The Book on Rental Property Investing, Bigger Pockets discussions, and listening to BP podcasts. I am looking forward to building a network in Maine. I am currently living out of state with the intention of moving to the Sagadahoc County area in the summer of 2019. I am currently working on building a savings in order to purchase a small multifamily before moving back to Maine. I would love hear from experienced investors about this process, specifically about when to get pre-qualified and how to begin the process from out-of-state.