All Forum Posts by: Tyler Bushey

The "A" in Zillow stands for accuracy

I was 26 and a full time college student and worked full time when I bought my first 3 unit

if you need some help or decide to pass on them, I'm interested 

Buy for today, never count on appreciation!  If it doesn't make money now, it'll be hard to ever get a real return because you have to offset the years of loss or break even, all while accounting  for repairs.  It's the equivalent of getting a bonus at work, nice but unexpected!

Don't only focus on the offer price, $100 over asking price isn't worth making a thread about.  I always try to think about the "net" for the seller. A great way I do this is by searching public record for the mortgage information and I try to estimate what they owe, and I offer cash so no ask for closing costs.  I personally want to try to calculate what they will walk away with so I can give my best offer up front (so I can waive my inspection contingency) and beat my competitors who just want it under contract so they can go nuts on the inspection. 

Long winded response alert!

Every agent is investor friendly if you can/do:

A) actually have the ability to close.(probably cash or no inspection in this market cycle) 

B) make the relationship two ways. (My agent knows about every off market deal I come across, because he's going to get the listing.) 

C) know your ****, podcasts and webinars do not apply, only previous experience will.  Buzz words raise red flags!

Don't take this the wrong way but if you're looking for your first house hack, you don't need an agent who deals with investors because you're not an investor and also, the wrong agent, with their best intentions, may sell you on the numbers based off living there, possibly not as a viable investment.

Just because an agent may be investor friendly, doesn't mean they know anything about investing.  My agent is a wealth of knowledge about the market in my area and deals with rental, construction and development every single day.  Hope this long winded answer helps, any questions send me a pm, glad to help if I can. 

Nice job!  Did you ever consider holding it or were you thinking sell from the beginning?

I might throwdown 

Bangor Savings did one for my 3 unit in Biddeford, highly recommended using them they do 80% LTV. Wes Stevens is in their Biddeford branch.

I wouldn't be waiting for a downturn in Southern Maine anytime soon...curious what bank you used?  Is this a multi or single family?