All Forum Posts by: Andrew Warde

@Fan Bi, I dont think the neighborhoods are that bad, but you will typically find deferred maintenance to be an issue, and they're really cracking down on lead paint and fire safety. Not saying it's bad for the long term, but many owners don't have the equity or the cash to pay for those modifications. They add up quickly. 

Hi @Annalise Kingston. Welcome to real estate investing. It's an exciting world in which you can create value for others and solve problems. I invest in quite a bit of real estate. There's a dynamic group of active investors (with all experience levels) that meet in Portland. I think that might be a great next step for you, to talk with a number of other investors and learn different opportunities for you to get involved. PM for details regarding date and time. I'd love to have you as my guest. 

Thanks so much @Matt Lefebvre for your perspective! Appreciate a second perspective on things. :)

Welcome to the purpose of BP - real estate investing (in Southern Maine)!! ;) I do quite a bit of short sale work and I regularly have cash deals available. I'm having an open house at one of my short sales this weekend if you're interested in meeting up. It's in Lyman (this one is already under contract to a buyer). We're meeting from 11-1. Message me if you are interested in coming and i'll shoot you the address.

I do most of my real estate investing in Maine (to date) but I have a deal I'm working to finalize in New Hampshire. Can someone recommend an investor friendly title company? I'm looking to have them write up a purchase and sale, transfer deed, and write 2 private mortgages. I apologize if I'm posting this in the wrong forum. 

Thanks in advance!

Hi Catheryn! I'm in southern Maine. I don't have any problem putting properties under contract that I don't intend to close on, as long as I disclose that to the seller. I find it best to be honest with your intentions and thoughts. You can also say that you might purchase it, or you have other investors that you know that would be interested, but you don't do anything under you can secure a contract that works for everyone.

Let me know if i can be of any help to you.

Andrew

I would second @Harrison Smith. I've been investing in multi's in Biddeford/Saco since 2012. Love the market. I think retains strong upside potential with lots of amenities currently in place.

Regarding the mill market, it seems that the mills have never affected by ability to get great tenants. I like multi's with off street parking (transportation to jobs), something that the mills run short of, or its a really long walk.  Love to connect. 

Thanks so much @Mark Nolan!

Hi @Lee Rutty. 

Thanks for the heads up regarding the networking groups. I was able to make my first SMREIA meeting this last week. It was great. Thank you also for the introduction to the BP meeting on March 3rd. I will definitely try to make that one as well.

Biddeford does have quite a few rehab "opportunities." I love working locally, but I also don't mind a little bit of driving. I'm much more familiar with the Route 1 corridor than the lakes region, but if the numbers are right.... ;) We have done several buy and holds (of multi-units), but just now branching into flips.

What are you working on now? How can I help?

Andrew