Auburn , ME · Member since 2018 · 2 posts · 3 votes
Hello all!
My name’s Rick and I’m an aspiring real estate investor located in Auburn, ME. I’m mostly interested in multi-family buy and hold properties, but I’m not opposed to other outlets. Currently I’m in search of my first property which I plan to house hack, ideally in the Central Maine area. I look forward to chatting and learning from you all and can’t wait to see where this journey takes me!
Welcome Rick! There are lots of resources for you around here. Buy some books, listen to the podcasts, go to some local REI meet ups. Every step no matter how small is a step closer to your goal.
I hope you have great success. If you have any questions, be sure to ask. BP is a great community.
Welcome Rick! There are lots of resources for you around here. Buy some books, listen to the podcasts, go to some local REI meet ups. Every step no matter how small is a step closer to your goal.
I hope you have great success. If you have any questions, be sure to ask. BP is a great community.
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@Rick Newton Welcome to BP! There are a lot of great resources and people here that should be able to help you on your journey.
I am Realtor, Investor, Developer, and CFO of a real estate holding company that owns a management company and construction company in Southern Maine. If there is anything I can help you with please don't hesitate to reach out. I am happy to help.
Best of luck on your REI journey and reaching your goals. You came to the right place to learn!
Get pre-approved before you start looking. That way if you find something you can jump it. Find an agent that can get you on the mls so you can start looking.
There are currently around 60 multi's for sale in the Lewiston/Auburn area with half being 2 units. Most of the 2 units don't make sense to me as an investor at this time, but might make sense if one was house hacking.
I currently have 6 buildings in Lewiston/Auburn and think it is a good place to start as the prices are still pretty decent. When I started here 5 years ago there were 120-140 properties listed, but in the last year and a half it has dropped to 60-70. If a good investment property gets listed you need to get on it pretty fast as the good ones do not stay long, hence the pre-approval letter.
Welcome, @Rick Newton! What @Carl Hebert said is spot on: still plenty of opportunity in the L/A area. I had a client in my office yesterday who is house hacking a duplex in Topsham and loving it. Enjoy the process and I hope to be reading about your first deal in the coming months.