All Forum Posts by: Dan Weber

Hey Everyone,

Our next meetup is going to be at The Garrison, which is a restaurant located at 81 Bridge St, Yarmouth. This meetup is being sponsored by Matt R. of M.R. Qualified - huge shout out to Matt for this one. Matt is a local guy that does private lending all over Maine. I have used him personally, as well as many of my clients and friends, and I can personally attest to what a great experience it was to work with him. You can find out more about his business at www.mrqualified.com.

We will be meeting at the Garrison on Tuesday, September 12th, from 6:00pm-8:00pm. Food will be provided and there will be a bar for us to purchase drinks. I'm looking forward to seeing everyone!

Cheers,
Dan

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

Agents - what the preferred CRM that you use for your agent business? Do you ever co-mingle your CRMs for your agent and investor businesses? Thanks in advance!

@David Gorman make the offer "subject to the sellers finding suitable housing by X date." That way, if you don't find a better option by that date spelled out in the contract, then you (as the seller) can terminate. 

@Jeremy Frantz I'd try and find a way to make it work. Even though orangeburg pipe sucks, I would buy it regardless, even if you couldn't negotiate any money towards it with the seller. Could you offer them a higher $ amount and ask for a credit at closing for that difference in amounts, then you can fix it right away? We do it with bank financing, I don't know why you couldn't do it with seller financing. I would expect it to cost around $15k. Otherwise, sounds like a good long term play. It won't cash flow much in the interim but property prices in many areas of Maine are (and have been) trending up so you should be sitting pretty in 5 years.

Hey Everyone,

This month's meetup is going to be back at Liv's home in Portland on Wednesday, July 19th. This is on Munjoy Hill. She has a great space for hosting a gathering. She also has a large pool if you have any interest in swimming. The meetup will begin at 5:30pm. Message me for the exact address. I'm looking forward to seeing everyone this month!

Cheers,
Dan

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

Hey Dan, shoot me a DM, I'd be happy to jump on a call and shed some light on the rent data. It's tough, the rents have gone up so quickly over the last few years that rentometer has had a tough time keeping up. Frankly, many landlords have also had a tough time keeping track of what market rents are. This is common throughout Southern ME, not just Biddo/Saco.

@Andrew Bosco shoot me a dm and I'll connect you with a client that does quite a bit of MTR in Portland.

@Matthew Fermino shoot me a dm and I'll connect you with a residential lender and a commercial lender that could both help you, depending on which route you'd like to go.

Hey Everyone,

This month's meetup is going to be back at Après in Portland on Wednesday 6/14 from 5:30pm-8:00pm. Looking forward to seeing everyone and talking about what everyone is seeing out there.

Cheers, Dan

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

Try Infinity Credit Union. Last I checked, they go to 90% LTV which should help if the appraisal comes in a little low as well.