Conveniently located just minutes from the interstate, this home offers an easy commute to Bangor and Newport, while Etna Pond and its public boat launch are just a short drive away.

I know it’s going to take a lot of digging and possibly building my own pipeline for off-market leads to make this strategy viable long-term.

Like many of you, I started by reading Rich Dad Poor Dad, and from there, I dove into Brandon Turner’s book on real estate investing.I’m incredibly excited to embark on this new adventure and can’t wait to see where it leads.

(Auctions and foreclosures can also provide great leads.)With $20K, hard money loans are a practical option, as they emphasize a property’s ARV over your financial history.

BTW - AirBNB is a platform where you list your Short Term Rental.

In the short term, prices fluctuate like the winds:  Up one day, down the next. 

Skills or qualities in no particular order: Communication, patience, empathy, listening ear, backbone, resilience, determination, organization, work ethic, lead a team, thick skin, time management, trusts their instinct, and all-around good ethics! 

As I see it, the only ways that real estate pays you well in the first 3-5 years is low to no leverage or a strategy that requires more work (short term rental, mid term rental, rent by the room, etc.).  

Since you’re considering converting the upper unit into a short-term rental, you may also want to implement strict rules around smoking or strong odors in your house rules to avoid future issues.

This also leads owners to ASSUME simpler is better when it comes to management contracts.