All Forum Posts by: Carl Hebert

I am located in the Lewiston/Auburn area, if you want to check out the twin cities. I grew up here and know the good areas and the not so good areas. I have also driven by almost every multi that hits the market. 

I am not an agent, I use Clayton at Fontaine. 

I currently have 4 buildings and closing on 2 more in December. We can have a meal and talk about the area.

Definitely check with your insurance first to see if they have a recommendation. 

Like @Thomas S. a friend of mine had a suicide in one of his units, shotgun to head, his father cleaned it up. He had a suit, gloves, bleach, cleaner. He had to remove part of the ceiling and part of a ceiling joist because of some bio matter (teeth mostly) (just shuddered a bit). Replaced carpet, sheetrock and painted. 

This was done the day after the shooting, his father said it was pretty easy and he had worse cleaning after peoples parties. I think it is the eww factor that you have to get over.

@Amanda Sinclair I agree with @Bob Langworthy I have heard good things about Mechanics Savings Bank. 

I have not done a refinance yet, but I did do a Home Equity Line with Keybank and my last lock in was during the summer and the rate was 3.2%,  regular draws are 4%. I do all my banking there for now as I really have enjoyed working with Alice at the Lewiston branch. Working through my second mortgage with them at the moment for a four unit in Lewiston. 

Some good posts here I agree with @Ryan Murdock and like the suggestion of @Amy A. I have a no smoking policy in all new leases, but I also know how hard it is for smokers to quit. 

A tenant that I inherit who smokes I just tell them of the policy and ask them not to smoke inside and if their neighbors complain often enough I will not renew the lease again. In five years I had one complaint of smoking and that was this pass week lol. 

@Jacob R. Crosby I would just let them stay if otherwise they are a great tenant, they have been there for 4 years and to be honest any damage that it will do has been done and it won't matter if they stop now.

 No I don't sorry. 

@Louis Aller Heating prices in Maine can vary quite a bit. One 3-unit building costs me 2200-2000 a year and is oil heated. Complete remodel with new windows and doors made a big difference, was over 5k before but oil was also a lot more.

Another 4-unit gas heated building costs between 1600-1800 a year but this also heats the hot water for all 4 units. again good windows and doors and a well insulated attic. 

A 3-unit cost me 3600 last year in gas, bad windows and doors otherwise well insulated. also heats hot water and gas dryer in basement. still pretty high compared to other properties. Doing new windows and doors starting next year as we remodel each apartment. hoping that helps.

Heating is definitely a major expense up here in Maine lol. 

@TD Wolf I really like the idea of renting it out and refinancing when you need the cash for another flip/investment. 

I would definitely do a credit/background check on any tenant no matter how good you think they are. If anything for peace of mind. 

How far is the property from Lewiston/Auburn?

I have a few multi's and a single family that I rent out (the single family is almost ready to rent :) ) located in the Lewiston/Auburn area and since I started using the checks my tenant quality has risen a lot. Also the interview process is faster as we get less applicants who see we do checks and don't bother coming or calling.

Thanks I will look into them. 

 Which machines did you go with? I am currently looking to replace a washer that is dying a slow painful death. 

I have not.