All Forum Posts by: Stephen Scire

I was researching in the Portland Me area, why are some properties so much higher in their property taxes & is this something that can be appealed. 

Yosef, I absolutely love your story ! 

My next move needs to be an apartment bldg ...and your path all seems very deliberate and tenacious. 

I'm so very happy for you. I completely agree with you in your thinking .... It resembles much that Jamie Gruber & his story. You put yourself in the position to surround yourself with like-minded individuals. ..what we all need to do to take the next step.

Im just an owner/operator of a family deli& catering business that Ive operated for the past 30 years, I currently have 7 doors in the Boston & Wells ,Me area and I love to underwrite properties every night when I get home...striving to make the next move...this of course is my source of income being self-employed & chose this type of investment as cash flow.

I'm in the Boston area, if I could be of any help at all...please reach out to me....Id love to be a resource if Im of any value.

Be well & CONGRATULATIONS  ! 

STEVE

Thank you very much Greg

I here a lot of talk of linear markets are better than cyclical & hybrid ... being in the Boston market ... where would you consider a linear market in my area. 

Thanks for any info & education as always from you all.

Steve

Hello Bigger Pockets friends ... I have a question regarding funding.

I'm interested in scaling up ,...I currently have equity built up in 2 investment properties...they actually have no mortgage on them.

I also have 30% equity in vacation rental property & 60% equity on my primary.

Here's my question...using the equity on the 2 multis with no mortgage, can I use that to do a cross collateralization loan as a deposit on a new purchase. I just heard of this idea & wanted top see if it's doable & if anyone has done this. I'm hoping of course that there is no penalty to use my equity (avoiding PMI) & this way I can do the deal myself without a partner or multiple partners for extra cash for the 20% down.

I do have cash reserves, not enough for 20% deposit to scale up to a small apartment building ( 8 to 12 ) units but I'd rather keep for rehab or just to stay more liquid. Naturally in a year or 2 I do plan to refi & release that property from the purchase. 

Thanks for any advice & education

Steve

Thank you Will 👍

Hello my fellow Bigger Pockets friends,

Does anyone have any helpful info on historical homes.

The home I'm interested in has a historical barn/tavern attached & I was curious if there are any grant monies to help restoring this property.

What are the chances of receiving a grant and percentage of estimated cost. 

Do you think it would it would best to call the state house in which I am looking ?

Curious about all of this because there may be a possibility of converting the barn to a wedding venue. I have a background in catering.

Thank you for any input.

Steve

Josh...so sorry...i sent it without the background info....

I have 2 cottages on 1 parcel of land in Wells Me, steps from the beach... I was throwing around the idea of setting up properties to condo...keeping 1 and selling the other. 

The only joint expenses would be lawn care & taxes.

We could always keep both...selling off 1 would give us more capital to reinvest in a multi unit residential property.

Thanks in advance for you thoughts

Steve

Thanks Joe, Im going to give town hall a call asap & see what i can find out.

Very helpful...Thanks & best in the New Year

Dan, good point...to pin point exactly what type of commercial value it has ...I will certainly research that. 

Thank you, prosperous & healthy New Year