All Forum Posts by: Jim Shiminski

The employer match is a gift. 100% return immediately. Take it.  

Most decisions are never all or nothing.  I typically look at a midpoint that provides for best value.  I agree with others,  there are lesser things that you can do to fix this kitchen.  Remember, you don't have to live there.  Your tenants need to feel comfortable and feel like they are getting value compared to other choices.  Paint the cabinets white, replace the sink and countertops (with products that you would see in other homes in the neighborhood).  You are on the right track.  Good Luck.  Cheers.  

Jon. I live just outside Portland and have invested in multi units in Portland in the past. I am currently looking but multi units are pricy now and don't cash flow well. The big concern and the first thing that I look for are separate utilities in these older buildings. They are usually tight buildings and typically have older windows. Heating costs can be really crazy high. Right now we are paying unusually low costs for energy but that won't be for long. Check the age of the heating system. They can get expensive on these older buildings. What is the area in Portland. I would be happy to comment on which direction it's heading in. Cheers. Jim

Yes,  that's probably where I may end up.  In short term probably May easier to have my partner carry the paper and finance the deal  

My business partner and i own an office building that our company occupies. We bought the building about 4 years ago with an LLC. We are 50/50 in the LLC. We purchased the building for $250,000. We paid cash in the transaction. Our company pays $35,000 per year; triple net. Our LLC doesn't have any expenses.

My partner is winding down and looking at a 5 year exit from the business. i would like to buy his half of the building and am looking for recommendations on how to structure the deal to do that. I am investing in other real estate but have money set aside for that. Any input would be greatly accepted. Feel free to ask questions. Thanks. Cheers.

My business partner and i own an office building that our company occupies. We bought the building about 4 years ago with an LLC. We are 50/50 in the LLC. We purchased the building for $250,000. We paid cash in the transaction. Our company pays $35,000 per year; triple net. Our LLC doesn't have any expenses.

My partner is winding down and looking at a 5 year exit from the business.  i would like to buy his half of the building and am looking for recommendations on how to structure the deal to do that.  I am investing in other real estate but have money set aside for that.  Any input would be greatly accepted.  Feel free to ask questions.  Thanks.  Cheers.

I have been looking around.  This site may be helpful. http://www.movoto.com/market-trends/. Looks like a fairly comprehensive listing. I am starting in real estate again after being out of it for a while. Will be interesting to see what others offer up.  Cheers.

In the end it really depends on the market you're in. Here in Portland Maine the multi units are really sought after and prices are high right now. I would much rather be in multi units but it looks like single-family home deals are more plentiful and are cash positive.

What do you recommend as a starting point, or rule of thumb, when running numbers in a spreadsheet or online calculator?  Thanks.  

Here in Maine and in most of New England we have high property taxes. Just need to run the numbers and make the deal work. If not walk away. Also be aware that taxes may vary significantly from town to town. It's worth looking at other towns or regions where taxes may be lower.