All Forum Posts by: Dan Weber

Hey @Jason Gass, there are a couple of different loan options like DSCR loans or bank statement loans that could help you qualify. I'd highly suggest speaking with a local lender about your plans so that you can gameplan accordingly. If you know how much you qualify for to buy a primary residence and what the downpayment options are for that, then you know your price point for that purchase and work backwards from there on options for investment properties. Send me a dm and I can send you some lender contacts.

Hey @Benjamin Frank, I can speak for the areas you mentioned in ME - those are great areas to invest in a STR. They get three seasons of activity because of the state parks with lots of lakes around too. So in addition to the skiing, you also get fishing, kayaking, hiking, camping, leaf peeping, etc.

Hey Everyone,

Our next meetup is going to be at Austin Street Brewery on Thursday, 2/22 from 5:30pm-8:00pm. The address is 115 Fox Street, Portland. Anyone that comes and signs in is going to receive a copy of the spreadsheet that myself and my clients are using to analyze properties. I'm looking forward to seeing everyone and getting updates on your projects. 

Cheers,
Dan

Maine, Portland, Biddeford, Saco, Westbrook, New England, Brunswick, Bath, Midcoast, Lewiston, Auburn, Old Orchard, York, Kennebunk

Hey @Aaron Bard, I met a bunch of them at the BP conference last year, they are legit. I would highly recommend @River Sava over there, she's great. 

Hey @Peter Brigham,

Based on the income and price point, it sounds like a solid building. Since the building is 5+ units, the value is going to be based on the cap rate for that area and the NOI. So the price/unit and 1% rule or 2% rule here won't be applicable to appraisers, although, could be important to buyers. As for finding buyer leads, you could try to do FSBO on Zillow or facebook marketplace and do the showings yourself. Otherwise, your best bet for selling is going to be to list it live.

Cheers,
Dan

@Joey Shaw I had Jensen Baird put together some seller financing docs for me in 2022. Shoot me a DM and I can share the name.

Cheers,
Dan

Congrats @Greg Ruff, sounds like an awesome deal!

Hey Everyone,

Our next meetup is going to be at Bissell Brothers Brewery on Wednesday, 1/17 from 5:30pm-8:00pm. The address is 38 Resurgam Place, Portland. I'm looking forward to seeing everyone and hearing about your ideas and goals for 2024.

Cheers,
Dan

Maine, Portland, Biddeford, Saco, Westbrook, New England, Brunswick, Bath, Midcoast, Lewiston, Auburn, Old Orchard, York, Kennebunk

I second Ben at First National. I would avoid Bangor on the commercial side, multiple bad experiences. 

Hi @Ann Covey, congrats on what you've built so far! Shoot me a dm and I can send you a couple of commercial lenders that work well with investors that would be worth reaching out to.