All Forum Posts by: Tim P.

@Michael Bowser Check with your local landlord association. I'm in Bangor and as a member of GBAOMA get leases through them.

Have heard the state AG lease is not good and weighted for the tenant over landlord.

Looking at a property that has several tax liens plus a bail lien. The tax liens are small and can be paid off, but question the state level bail lien. There is no recorded discharge, so assume this would be responsible of new owner to clear up or does it stay with the person?

@Nathaniel Seekins I am interested in a meetup as well.

@Timothy Swenton - Bangor area

Have 1 rental property (duplex) that is going fine for several years, but not sure how to acquire additional properties.

It wil be years before I can get a down payment so would be 100% finance with PMI. Banks require 15-20 yr term, so dont see cash flow on anything for sale with high monthly bill.

How can I make this jump?

Maybe laws differ elsewhere, but here law states that someone has legal tenancy (tenancy at will) after 30 days.  Without a lease, you have no action, and requires legal process ($$). 

Who is this person, background and credit check? If person is unsafe, there is liability issue. Everyone should go through same application process and be on a lease, for not just your own safety and liability but everyone on that property.