Investor · Bristol, RI · Member since 2016 · 6 posts · 1 vote
I'm brand new to real estate, admittedly I'm a little stuck in the analysis peralasis trap. I'm currently looking for a duplex or three plex in the Brunswick / Topsham Maine area. I was hoping to hear some opinions, on that approach/ thoughts on the market in Maine.
Yarmouth, ME · Member since 2015 · 57 posts · 25 votes
10y
Where are you stuck? What's the concern that is keeping you from moving? How long have you been thinking about it? If you are brand new, it might not be paralysis - you may be wisely cautious and still gathering knowledge.
Specialist · Milford, ME · Member since 2016 · 630 posts · 378 votes
10y
Are you looking to live in it and rent the remaining? If not you need to consider your cost per unit to see if the cash flow will be there. If it is in a good neighborhood with like a B class tenant that is going to stay a long time you may be ok. I personally don't keep less than 4 units for rental. That way the 3 will cover a vacancy or a problem person. Determine ahead of time how much you need to clear per month to be worth it for you. Then the numbers are quite easy. Take the zeros off it makes it any easier to analyse.