All Forum Posts by: Carl Hebert

@Tyler Howie I concur with @David Marshall, I keep looking south of Lewiston and just can't justify buying down there when I can get a better return on my money up here. I will keep looking though! :)

Carl

@Tim Stuart - I bought a duplex in Cape Coral on a canal, we stay in one side and rent out the other. All my other properties are in Lewiston and Auburn, Maine. The duplex was our reward lol. 

Carl

@Sara Rush - Just like @Amy A. mentioned, get yourself a knowledgeable agent who can give you fairly accurate ARV's in each market you are looking in. The arv can change quite a bit from one neighborhood to another, I know from just working in the Lewiston/Auburn area there is a decent change in price.

You will also want to connect with someone familiar with repairing the type of building you are looking at. Plumbing, electrical, windows, paint type and more. The old stock in Maine is a history in construction lol.

Carl

@Tim Stuart - Not sure what towns you are looking at, but you may also want to check if the city is planning on bringing sewer into the area as this will be a future costs for you also. Cape Coral is been expanding it's sewer system for a while now. 

Also you will want to walk through a completed home that the company has built to see the quality of work and materials being used. Not all new construction is good construction.

@Stetson Miller has some very valid points also on location for future appreciation.

Carl

Hi @Sean Warren, where did you end up buying in Cape Coral? I bought a duplex last Oct. on Cultural Park Blvd on a canal. We are living in one side and have the other rented out. Really enjoyed it this past winter and spring.

Is it 2br or 3br? 

Grats on the property!

Carl

@Brendan Chase - Everyone above has  very valid points, @Joseph Cacciapaglia, @Bob Langworthy and @Ed Emmons. I would add that I have criteria that has to be met before I buy a property. Figure out what you want from a property and start in your local area and keep extending from there till you find one that meets your needs. 

I have been lucky in that all my properties are in Lewiston/Auburn, but I was buying before the crunch on properties here in L/A. Once I start looking again I will probably have to look at Augusta, Rumford/Mexico areas etc. Everything south of Lewiston never matches my criteria, although I keep looking there anyways lol. 

Carl

@Dave Perlman I do not think you would have a problem with what @Dallon Schultz is suggesting, I would suggest you check with a local agent or do some research yourself on if you can airbnb in the area you are looking to buy as it does change from one area to another. 

Carl

@Ray King I agree with @Jeff Copeland, use the security deposit, I know in Maine it can be used if there is back rent still owed. The problem comes if there is damage also, you can try sending an invoice to their new address or try small claims if it seems worth it. 
Carl

I would pass, that’s not a lot of rent for that price especially if you need to do work on top of that to get to $800 on third unit. Plus you’re missing sone expenses. 

This to me seems like a no brainer. Eviction? yes. Credit score? Low like really low, acceptable application? no. 
no need to look at more on this application, email no with link to report.