All Forum Posts by: Tim McClary

Maine Real Estate Management is another great company that offers full management services. 

Leasebangor.com will get you to their website. 

You might want to consider factoring in professional management. If you can make the numbers work and get the returns you're after it may prove a better overall return on time.  You locate and secure properties and then hand them over to the management team you have in place. It will make thanksgiving a lot more pleasant.

Is this the Evictions Gold Medalist @Ryan Murdock?  I'll be there for sure!

Out of state lenders always seem to charge more for everything. It all depends on the type of loan you're using. I paid $700 for an appraisal of my duplex, but it was for an "As completed" appraisal so it was a little more involved.  Go local next time and save a few bucks. 

I've used Justin Freeman from BBSC.  He owns a couple of rental units and knows his stuff.  I like having someone that is walking the walk.  The thing I like the best about him is he always gets back to me in an hour or two.  He is in Brewer, but with technology the way it is, I don't think I go into the office more than twice a year.  

https://www.bbsccpa.com/about/meet-our-team/justin...

I'm currently working with some investors in the Orono area.  Mainly focusing on college rentals.  Maybe I can be of assistance. 

The rental market is much stronger in the Bangor area as compared to Houlton.  Brewer, just across the river, is another solid area.  There are some decent units on the market there now.  What sort of timeframe would you expect to have for owning them?  Are you a locum who will be leaving in a year or two?  Do you plan to set down roots?  Do you want to still own it after you leave and have someone manage it for you?  I'm an agent and could send you some disclosures if you're interested.  

@Ryan Murdock you're in the Bangor area!?  No way! I totally heard your podcast. It would be an hornor to buy you a beer sometime. I'm headed to court soon too and could use some advice on how to become a gold medal evictionist.  We should get a Bangor Area meet up going up our way. 

If you are spending 4%-6% on student loan interest but making 10%-20% on an investment you're in the black.  If you get the right kind of loan then the interest doesn't start until 6 months after graduation.  So make the money you have work. Debt isn't a bad thing if you use it right.  I'm in Orono often managing some properties up there. Maybe we can chat sometime about your options. 

You could take the money you are saving and use that for a flip and use the loans like they were intended.  You'll be able to write off the interest from the student loan and the house if you claim it as your primary residence.  Don't play games with the Fed's money.  It will catch up with you, but you can totally leverage it by using it for its original purpose and free up some other money.