All Forum Posts by: David Marshall

Welcome to BP @Jordan Kim!

The rents in Portland are leveling off after a strong surge and there are large apartment buildings being constructed. Smaller multi-unit properties make sense for condo conversions and short-term rentals. It is hard to find a cash flowing multi-unit and they move fast when listed. I have a multi-unit in the West End that I bought years ago and it is cash flowing. For nine years, I served on the Portland City Council and I am willing to be a resource to BP members.

Biddeford reminds me of what the Portland Peninsula was like 15-20 years ago. It has some rough areas and the structures are solid overall. The revival of the downtown will make Biddeford very attractive. A tenant of mine wanted to buy and I helped her get a duplex that pays most of her bills. Long-term, I think Biddeford is a good place to buy.

Welcome to BP! It is great to see you making moves in Augusta. That's where I grew up. It looks like the prices are good for buy and hold multi-units there. Sounds like you have a good strategy in mind. 

Hi Cody, welcome to BP! I am in the Portlland area almost all the time. Let me know when you would like to meet up. I love to talk real estate.

Hi Daniel,

Welcome to BP! I'm a fellow investor in rental properties. Are you asking about finding the right tenant or the right property? Thanks for clarifying.

Welcome to BP @Sarah Camic, 

The sooner you start speaking with lenders the better so you can work on credit items if necessary. There are a couple low or no money down loans that I am aware of, in addition to FHA loans, that you may be able to use for your first 2-4 unit. If you are looking for loan options, then send me a PM and I'll give you the info about the loans and the lenders and explain the process if you like. My wife and have a duplex and a triplex in Cumberland County and we have found owning and managing small multi-unit buildings to be rewarding.

I'll be there. Thanks for coordinating Ivan.

Hi Nick, 

Welcome to BP! It's great to have another aspiring investor in Midcoast. 

A few years ago, I purchased a Triplex in Orr's Island. Short term rentals have proved successful and I'm very satisfied with the numbers. 

Lincoln, Waldo, and Knox Counties have shifted to a buyer's markets. This means there is more than 7 months of inventory and signals a great time to invest. 

When I was in my twenties,  I bought my first multi-unit and I still hold it today in Portland. 

If you'd like to meet up in Brunswick, Bath, or Boothbay sometime and talk real estate, then please let me know. 

Best wishes to you in the pursuit of your goals.

Hi Derek, 

The Portland STR that I own and manage is booked through January with five days of vacancy. February is fully booked. Feel free to reach out if you would like to talk.