Real Estate Agent · Lewiston, ME · Member since 2017 · 10 posts · 3 votes
I have been a member of Bigger Pockets for a few months and really enjoy reading about peoples’ first deal. My primary focus for the past months has been education; I am reading The Book on Rental Property Investing, Bigger Pockets discussions, and listening to BP podcasts. I am looking forward to building a network in Maine. I am currently living out of state with the intention of moving to the Sagadahoc County area in the summer of 2019. I am currently working on building a savings in order to purchase a small multifamily before moving back to Maine. I would love hear from experienced investors about this process, specifically about when to get pre-qualified and how to begin the process from out-of-state.
The sooner you start speaking with lenders the better so you can work on credit items if necessary. There are a couple low or no money down loans that I am aware of, in addition to FHA loans, that you may be able to use for your first 2-4 unit. If you are looking for loan options, then send me a PM and I'll give you the info about the loans and the lenders and explain the process if you like. My wife and have a duplex and a triplex in Cumberland County and we have found owning and managing small multi-unit buildings to be rewarding.
Real Estate Agent · Biddeford, ME · Member since 2017 · 213 posts · 150 votes
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@Sarah Camic Welcome to BP! It is never too early to explore financing as that is usually the biggest hurdle in the whole process. I am a Realtor, Investor, and Developer in Southern Maine and would be happy to connect you with some great resources as soon as you are ready. If I can help in any way, then please don't hesitate to reach out.