All Forum Posts by: Rich Davis

Zach,

Are you new to Lewiston?  I have multiple buildings here.  if you want inside intel, let's grab lunch.

Exploring the possibility of doing some cross border multi unit investing.  Looking for some people who invest on both sides of the border. What are the biggest differences between the US and Canada from a regulatory standpoint?  Culturally? etc...?

Thanks in Advance

Rents still going up in the Northeast.

CROSS in the Lew.

Ask for Sean Doyle.

If you're looking to stay in New England, New Hampshire has, by far, the most landlord friendly tenant laws. No grace period to pay rent for example. No limits to late fees either.

I know there have been posts regarding the ever increasing cost of insurance.  I am seeing a different insurance issue.  All of my buildings are three stories. Insurance is suddenly dropping me due to the buildings not having a sprinkler system. Of course I can switch carriers, but the question to you all, is are you noticing insurance carriers getting very picky with certain things, and if so, what?

Sorry Michelle.  I've inherited complete knuckleheads with buildings as well.  The difference is I'm in Maine, where the evictions laws lean landlord friendly.  I wouldn't invest in MA or NY, simply because of their eviction laws.  Best of luck.

Sarah,

Went through the same thing in L-A.  Just no decent PMs. So I hired a woman, and coached her up on how to PM well.  She now manages 32 units for me.  The beauty of this approach, is that she manages the exact way I want my properties to be managed.  I don't have to adjust to some other PM's way of management.

Recently bought some properties in Rumford. Being an hour away, I hired local PM there.  Not surprisingly, I've been underwhelmed.

Would LOVE to connect and share Central Maine investing.

Any decent lender should allow you to borrow against your airbnb, without disturbing the original 2% loan.

Example: I have a 6 unit that had ~$500K in equity. Just this year, I used that equity as down payments for multiple other buildings.

They will lend the money if you personally guarantee the loan. I know, sorta defeats the purpose of an LLC from a financial perspective, but gets the job done.