All Forum Posts by: Matthew Wright

Does anyone know of a good accountant that has a focus on RE, in Southern Maine? (Cumberland county preferably)

My first Airbnb is a lakehouse. I’m curious if there is a way to rent the boat I own with the house. Or if there is a good third party app to use when I offer the boat for rent while they’re vacationing at the house. 

Anyone know of any good DSCR Lenders out there? Servicing Maine.

Does anyone have issues finding deals in certain towns that assess higher than properties are worth? For instance because seller thinks their complex that has low rents and needs work is worth what the town has it at, which is assessed on the high side of the market and doesnt take into account how commercial multifamily is evaluated. How to have this discussion with sellers in a way that doesn't seem like you're trying to get property at a steep discount.

@Tracy Streich thanks a bunch for the link. I did search it, but a lot of posts that were relevant all seemed to be 6 plus years old, and potentially outdated... This law, as necessary as it may be in some cases, is surely exploited by many, making it a frustrating one, in regards to after the fact tenants, especially.

Anybody have experience with tenant proposing they get a dog for "medical" reasons? She knows there's a no dog policy and has been in the building a while. I do not allow dogs, and this dog she's proposing will not be a service dog that will assist her with an obvious disability... She did provide a doctors not, and the Drs. note literally says "To whom it may concern, tenant has a pet dog for mental health reasons."  I know the law with service animals is pretty black and white, but this scenario just seems silly...

Im curious how target and advertise to students for leasing apartment or house bedrooms by the room.  This seems like a very lucrative way to rent if done right. Im just not sure where to start, what type of lease/addendum to consider and what to price the bedrooms at, and how to advertise. I think landlords in my area can make almost double renting by the room compared to renting the whole unit under one lease. Does anyone have experience doing this? Im very interested in learning the basics of this business model.

Is there a minimum lot count you should start with on your first deal? I've got a lot of mom and pop parks in the 20s in my area. Also is there a simple analysis/formula to use when analyzing a smaller park, is 1% rule applicable? 

Best books or resources for MHP education?

Is there a minimum number of units you would require for a first purchase? Should I stay away from something with no gate, security or any real management in place? Or are these the types I should be targeting? I’m experienced in multifamily, but would like to add self storage to the portfolio, have the basics of storage down, but not entirely sure where to begin. I’ve seen a few good ones I my area that I don’t think are managed right and aren’t advertised well (to include bad google reviews etc) but they are typically only about 100-150 unit.

@Kathleen D.

So, there are conventional loans available for 5+ units? I've never heard of that, that would be great!