All Forum Posts by: Eric Pierpont

I have a 3-unit in Lewiston and just closed on a 3-unit in Auburn. Another round of house hacking!

I'd ask for the expense data from the seller. The MLS listing says the owner pays the oil bill which is a very large expense here in Maine.

The oil for my 3-unit in Lewiston was about 3k for 2018. Also, the 3-unit I'm currently under contract with in Auburn was over 5k for last year.

Congrats @Jake Cohen! I used to live in Steamboat but moved back to Maine to get started in a more affordable market. I'll make it back to the 'boat later this year. Multi-units don't seem very common in town, whereabouts is the building located? How much did you spend on plowing and shoveling this past winter?

@Aaron H. Looking forward to attending the meetup soon!

@Carl Hebert

Okay, for my next mortgage I'll start by talking to local banks about the issue and go from there.

@Carl Hebert They gave me a vague answer of sorry your request has been denied. I'll be shopping around again in May, we'll have to meet up!

I started out by house hacking a triplex with an FHA mortgage, I moved out after a year or so and tried to transfer the title to my LLC. After talking with my lawyer, I was told that before he could begin the transfer, I needed approval from my giant mortgage company. It was denied and it looks like the only way I could transfer is with a refi which would be with a higher interest rate.

I've heard that local banks are much easier to deal with as far as title transfers go. Is this true? Any other tips?

I'm 34 now and started about a year ago. I'm almost finished house hacking a triplex and the next property will surface this spring. I'm having fun and learning so much. The BP podcast has basically replaced music when navigating the roadways.

Great information everyone! It will be interesting to see what happens on Avon Street regarding the 240-unit development proposal. Saxon Partners would target medical staff with 1 bedroom efficiency apartments.

@Benjamin Yoder-Henley welcome to BP! I lived in CO for 10 or so years and most of my time was spent in Steamboat. It really is an amazing town and incredibly difficult to leave. I moved back to Maine and I am currently house hacking a triplex. 

No problem Brian, glad to help! I actually served this up the other day to a tenant.

https://eforms.com/eviction/me/maine-7-day-notice-...

I hope this works for you.