All Forum Posts by: Dan Weber

@Matthew Purvis Foreshore Insurance. Message me for contact name & phone #

Hey everyone! I'm looking forward to seeing everyone again this month at Bunker Brewing. This month's meet up will be on the second Wednesday of the month, November 10th at 5:30! Everyone is welcome to come, no experience necessary - come, learn, and drink beers! I'm looking forward to hearing what everyone is up to and doing to finish the year out strong.

Cheers!

Maine, Portland, Biddeford, Saco, Westbrook, New England, Brunswick, Bath, Midcoast, Lewiston, Auburn

@Cory Kalin hey Cory, @Robert Beardsley is crushing it up in the Brunswick market. I would definitely reach out to him to talk more about that area!

@Kris Samaras hey Kris, you’re going to have better luck with local lenders here than a nationwide lender. Is it definitely non-owner occupied?

Where in southern Maine are you looking? There are plenty of opportunities if you are resourceful and willing to get creative!

Hey @Stephen Scire, this sounds like a great opportunity, congrats! Personally, for a property like this, I much prefer the "cash-on-cash" return metric to evaluate and decide if it is a good investment as it sounds like it is a single family rental. Given the age of the home (6 years old), there should be minimal capex for quite some time. I would figure out what your initial output will be between downpayment and closing costs, divide your annual cash flow by that initial cash outlay and see what your return will be.

Hi everyone, we are going to have another meetup this month up in Brunswick on Thursday 10/28. We are switching up the location this month and hosting it at El Tequila Brunswick at 5:30pm. If you have any questions feel free to reach out to myself or @Robert Beardsley. Hope to see you all there! 

Maine, Portland, Biddeford, Saco, Westbrook, Brunswick, Bath, Lewiston, Auburn, Boothbay Harbor, Rockland, Camden, Rockport, Augusta, Midcoast

@Adam Karpman We need more tiny home communities here! I know of one in Kennebunk. Some towns may require 1 acre per structure but tiny homes are often viewed more in the same category (or zoning use) as a mobile home than they are a single family residence structure, where the density requirements are a bit more loose. This may change town by town in the zoning. In terms of towns that allow STR, if you stick to coastal communities, especially in York County, most of them are lenient with STR regulations because they have had private STR for decades and decades, long before Airbnb ever existed. I'm happy to talk through some of those other challenges with you as well, shoot me a dm.

I would fire your lender for giving you a pre-qual letter to make offers without fully vetting you as a qualified buyer. The lender should've been able to tell you up front if you needed that cosigner. Although I typically prefer to work with mortgage brokers as opposed to banks, I would suggest reaching out to some local banks, possibly credit unions, and see if any of them have different loan stipulations that would allow you to purchase the owner-occupied duplex without a cosigner. 

@Paul Kupfer I'd suggest talking to @Justin Robinson-Howe, he's a great resource for STR up there.