All Forum Posts by: Tyler Bushey

Hello everyone,

I'm a traveling physical therapist but grew up in Maine and am looking to purchase multi families in Biddeford using an FHA and subsequently to house hack in.

My question to the Southern Maine community is in regards to the rent data in Biddeford and Saco. I know there is a huge shortage of housing and that has driven up price in the past couple years (along with other factors such as the pandemic, population growth, etc) so, I see listings for 2br-1bth for up to 2200 on places like Zillow, Redfin, etc.   and these places are not luxury apartments but more older half of duplexes. But then i look at general rental data from  rentometer or rent cafe and I generally see averages around 1600. 

Was wondering if any PM or investors can shed some light on what they see as realistic rents in the Biddeford/Saco area, and maybe why there is such a gap in the data. 

thank you!

If you want my honest opinion, you're being way too nice. These people have insulted you, your intelligence, and your property. I would be pissed. And they would be gone for violating terms of the lease.

There are more people looking for rentals out there than there are places to rent. You might lose a month's rent, but that would be worth it to get a new and good tenant in there.

If they are treating you like this now, they will only get worse....

 Its on market and located on George Street. What do you know about this area? I am more familiar with the Lewiston/Auburn market. From a first glance, it seems there is huge potential for growth.

Hi All,

I realize I am a few years late to the discussion, but I wanted to see what you think of Biddeford now? I am looking at a 4 unit that needs some TLC but seems to have a decent cashflow. 

Hello, 

I am interested in investing into Single/Multi Family Homes in Maine. For someone that is new to real estate, what are some things I can do to fully understand the market from a distance? Can anyone share their thoughts on the real estate market in Maine and where I can go to educate myself on it? I am interested in areas like Westbrook, Lewiston, Biddeford, etc. 

Thanks!