All Forum Posts by: Bethany Turon
Bethany Turon has started 22 posts and replied 174 times.
Post: Roadblocks to my goal of scaling faster
- Property Manager
- Durham, ME
- Posts 179
- Votes 102
I think a lot of real estate is finding the methodology that works best for your skill sets, goals, and time availability. Your goals all teen fine and seem to make sense. I would share that the properties I have purchased since joining the BP crew tend to end up following the 1.5% rule (monthly cash flow 1.5% of sale price). When I analyze properties, I look for cash flow after expenses sufficient to repay my down payment within 3 years. There are others who practice the BRRR method, but that's extremely difficult to execute without a boots on the ground partner who is willing to put in all the legwork (property manager, contractor, etc that you trust immensely). I would say based on the numbers you posted, you could find something in a different B class (solid) market that is pretty turnkey with stronger rate of return (depending on where interest rates were at the moment, of course).
Hope that helps.
Post: REI in Maine to connect with
- Property Manager
- Durham, ME
- Posts 179
- Votes 102
Quote from @Nathan Andersen:
I’ve purchased a few tri and four plex rentals in Maine (two in Caribou and one in Bingham) and I’m interested in continuing in the Maine market and had general questions and inquiries for Maine natives, realtors, PM, investors and owners of real estate in Maine. Some questions off the cuff are:
How crime in smaller communities is projected and if it really effects multi family investments? I live in a town of 60,000 in California, and while the crime rates are fairly accurate, some of the better areas get lumped in with surrounding neighborhoods. How should I get a better idea of the accuracy of it?
How to assess and project job growth in smaller rural communities?
Have you found or been able to succeed with any short term rentals in coastal areas?
Any small niche rental ideas that have been successful for you?
I’ve been looking to continue in the surrounding areas of Augusta, Belfast, and Farmington in the future. Any advice?
Thanks again in advance.
Hi Nathan,
I sent you a connection request in case you would like to chat through your questions above. It seems like you have a lot of them so a phone call is probably the most productive option :)
-Bethany
Post: Large Commercial Mortgage with No Seller Capital Required in Main
- Property Manager
- Durham, ME
- Posts 179
- Votes 102
There are some lenders in the area that will allow owner finance of the down payment portion. Please feel free to connect and I will get you some contact info.
Post: Looking for like real estate networking in Maine Portland
- Property Manager
- Durham, ME
- Posts 179
- Votes 102
Hello, I'm in the area and happy to connect!
Post: From New York, I want to Start a New Life in Maine!
- Property Manager
- Durham, ME
- Posts 179
- Votes 102
@Logan Stecher Welcome! There are a good amount of us in the area :) I just posted about a get together on Thursday at 6 PM at Railroad Restaurant & Pub in Lisbon Falls. You should join and get connected!
If your schedule doesn't work out, feel free to connect personally. I've always got a ton going on, happy to have tag-alongs or give advice any time.
Post: COMBINED Lewiston / Auburn / Lisbon / Brunswick / Bath Meetup
- Property Manager
- Durham, ME
- Posts 179
- Votes 102
Post: COMBINED Lewiston / Auburn / Lisbon / Brunswick / Bath Meetup
- Property Manager
- Durham, ME
- Posts 179
- Votes 102
We are going to try to combine the Lewiston / Auburn and Brunswick meetups this month at a central location in Lisbon Falls! Let's get together and hang out and chat real estate!!
9/29 6 PM - 8 PM - Railroad Restaurant & Pub - Lisbon Falls
Post: Anyone investing in Lewiston ME?
- Property Manager
- Durham, ME
- Posts 179
- Votes 102
Quote from @Jonathan Bombaci:
We just purchased 8 multi-family properties in Lewiston ME with another 5 closing next week. We are buy and hold investors out of Lowell MA with a few hundred units in MA and NH. This portfolio was bought with the "fix and flip" intention but we could also hold them for cashflow if the market moves against us. The portfolio pretty diverse in size (2-9 unit) and condition. I think some would work well for a Househacker, someone looking to BRRRR, and some are just buy and hold for cashflow plays.
Is anyone investing in this area? We plan to list 3 to MLS in the next 2 weeks the rest will go through renovations to become "mls ready" by the spring. Then we'll be faces with the decision to sell them or refinance them and hold for cashflow. Looking to connect with investors in the area and/or potential buyers. I don't know what I don't know and this is market I'm still getting up to speed on.
Hi Jonathan, I own 23 units in the area and manage another 170 for other investors. Let's connect, I'm happy to share my network, expertise, etc.
Post: Hard Money for flipping projects
- Property Manager
- Durham, ME
- Posts 179
- Votes 102
Quote from @Robert Gallant:
I am looking for interested investors in the Maine market. I'm in the Bangor area with a large number of opportunities. I have been putting my team together and have a vast knowledge of the surrounding area. As a former fire inspector for the City of Old Town fire department, I have a handle on fire codes and possible code violations.
Connect with me if you're in need of a private lender, I have a solid one I can refer you to. Good terms.
Post: high competion deal my gut says good oportunity good location
- Property Manager
- Durham, ME
- Posts 179
- Votes 102
Hi, did anyone connect with you? If not, and still available, I can help you out.