Real Estate Portfolio: Earn $4,125 / mo | $49,500 / yr passive income Take out a loan for $2,000 /mo and get $4,125 in income

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Seller: voltronbtr (154) 100%, Location: Houlton, Maine, Ships to: Free Local Pickup, Item: 292944956127 Residential Property Portfolio in Houlton, Maine Actual Income from Real Estate Properties: $4,125 / mo or $49,500 / year This listing includes a portfolio of five (5) separate rental properties in Houlton, Maine. The purchaser of this portfolio will acquire 5 residential properties which generate $4,125/mo in rental income. These properties are in an area with minimal property tax and minimal operating expenses. All properties include existing tenants with long-term leases or rental agreements. All properties have stable tenants, several of which have been in the homes for years. No need to go out and find tenants! These properties produce income immediately, at the first of the month following the purchase.The ideal purchaser of these homes is looking for a high cap rate residential portfolio with significant monthly cash flow. The new owner(s) do not have to reside in the local area. The current owner of these properties has managed them from nearly 2,500 miles away for over 10 years. This is a turn key property portfolio that immediately produces income. The existing owner can show you how and ease you into the process. All the heavy lifting for this investment portfolio has already been completed. The owner of this real estate portfolio has already done all major repairs across all properties, including several major renovations. Zillow Estimates as of February 2019 with actual rent amounts: 26 South Street - Estimated value = $104,384. Rent = $795 / mo. 13 Lincoln Street - Estimated value = $76,370. Rent = $700 / mo. 17 Highland Ave - Estimated value = $84,196. Rent = $950 / mo. 34 North Street - Estimated value = $88,451. Rent = $775 / mo. 27 River Street - Estimated value = $74,922. Rent = $900 / mo. Each property has its own unique charms and benefits. A brief summary is included: 26 South Street - The estimated value of this home is around $104,000. It has 4 bedrooms and 1,650 sq feet which is a very nice sized rental for the area. It has been modernized compared to many other homes and currently rents for $795 per month. It could rent for higher given the square footage and the shape of the home, but the tenants have been in the house for several years, are very reliable, and the owner has elected not to raise the rent in nearly 5 years.*Tenants have been in the home for 9 years! 13 Lincoln Street - This home is valued around $76,000. It is around 1,100 sq feet and has newer windows. A more efficient home than some others in the area. It is currently rented for $700 / mo. A new owner may consider raising the rent. It is easily maintained and stays warmer in the winter.*Tenants have been in the home for over 3 years! 17 Highland Ave - Local real estate agents value this home at $89,500. It has 3 bedrooms, 2 baths and over 1,400 sq feet. It was recently remodeled to include a new bathroom, new insulation beneath the floorboards and the basement, updates to the kitchen, new carpet, and refinished hardwoods throughout. This makes it a very nice home. It was recently rented for $950 / mo.*Tenants are in a 3-year contract starting in 2019! 34 North Street - With 3 bedrooms and 2,642 sq feet it is worth over $88,000 and is in very good shape. It is currently rented for $775 per month with long-term tenants. It can use some paint, but is otherwise a solid home. New owner may consider raising the rent.*Tenants have been in the home for over 3 years! 27 River Street - This house is near the river offering privacy and space. This is very suitable to many of the locals who are looking for a long-term rental. It is 1,600 sq feet with 4 bedrooms and 2 baths. It was renovated in 2018 to include two freshly renovated bathrooms, a renovated kitchen, a new bedroom floor, new carpets, new paint, and various other updates. It is valued around $75,000. It is currently rented for $900 a month.*Tenants pay in advance (most recently $3,000)! Never managed real estate before and concerned? This is the easiest rental portfolio on the market. It's all turn key and we can walk you through it. Plus, we will provide you with a real estate "Playbook" for how to manage these properties, including contacts for every issue that could arise. Everything can be managed from out of town, often with a single phone call. A general handyman is available to service the homes with a single phone call. Very honest, dependable, and reputable having served the homes for years. Only $15/hour! An electrician is available that has serviced the homes in the past, updated all their wiring, and serviced appliances. Very honest and experienced, reasonable prices. Flooring experts, furnace experts, hot water heater experts, plumbers, you name it. You even have a lawyer that can help with any major issues. Most inexpensive and honest lawyer we've ever worked with and he's helped with any tenant issues. Unlike other properties, there are no repairman or agents on retainer. So no monthly expenses if the properties are rented! When a property is not rented then you need to pick up utility expenses, as you would expect anywhere, but home rentals are very rare in Houlton, ME (one of the reasons we chose this area to begin with), so new renters can be acquired within 30 - 45 days. Current owner will share all contacts, all spreadsheets, all processes, all legal documents, all rental agreements, all tenant notices, all requirements under Maine law, and address any other questions you may have. Will even provide management support for the first 60 days after purchase, for free, to help with the transition. This truly is a straight forward investment to immediately produce income. The purchase price for all 5 properties, with tenants, is being offered at $375,000. The value of the homes is roughly $428,323, so this should be acceptable to a serious investor. Note that the buyer is expected to cover the closing costs for the price point offered. This investment pays for itself in less than 8 years with full occupancy and in less than 10 years assuming 80% occupancy. Summary We have a portfolio of 5 residential properties in Maine. They produce $4,125 / mo ($49,500 / year) with full occupancy. Most professional groups steer away from Maine, but we find the lower property taxes and insurance premiums help the Cap rate. We are asking $375,000 for all 5 properties with the buyer covering the closing costs. Questions & Answers Why Houlton, Maine? Most investors focus on large metropolitan areas under the idea of getting the best location. For this portfolio we focused on maximizing cap rate and profits over the long-term. Here are some of the reasons we chose Houlton, ME over other areas of the United States. Low Costs Houlton is a very low-cost area to invest in. Not only are the properties very affordable, but maintaining them is a breeze. The cost of home insurance is some of the lowest we've seen across the nation and they haven't raised rates on us but once in over 10 years! In every other market our rates climb steadily. The same is true with property taxes. The property taxes have been the exact same for years without any increases, which is not the case in any other state we've held investments. This means that over time our costs stay the same and as we increase rent our margins increase. Very unique and beneficial. Demand for rentals is high, supply is low Houlton has minimal (if any) vacancy when it comes to residential rentals. This not only makes us the "only game in town" when it comes to residential rentals, but it allows us to qualify our tenants and ensure that they are financially stable. We typically rent to Customs and Border Patrol employees with stable government positions or individuals in the healthcare profession that walk to the hospital from one of our homes. Other times we rent to successful business owners or upstanding residents of the community. Labor is affordable In most markets the costs of maintenance are significant. Even replacing a valve on a toilet can cost a lot of money in metropolitan markets. That is not the case in Houlton. Our legal expenses, maintenance costs, and repairs are the cheapest we've ever seen. Even a major repair job will be extremely reasonable when your labor costs are around $15/hr. Materials can even be sourced from nearby Amish communities making materials costs affordable as well. Would you consider financing your portfolio (owner financing)? We are not interested in providing financing for the properties. We have hit a point in life where it makes sense to start consolidating. We have a number of rental properties and will be using the sale proceeds from these 5 rentals to pay off larger loans with high interest rates. That way we have fewer rental properties with mortgages across our overall portfolio. To make this happen we will need the proceeds from the sale of these properties to be transferred to the mortgage on another property. We wouldn't be able to accomplish that goal if we carried the loan. The good news is that interest rates are still very low. I would recommend approaching your local bank or credit union and talking to them about pre-approval for a loan if you don't have pre-existing lenders in place. You can tell them that you are looking for a loan against 5 residential properties that are all income-producing. The terms should be favorable for a couple reasons. One, the income from the properties will exceed the loan amount which will makes the banks happy. Second, with aggregate value at nearly $430K, much more than the purchase price, you will have immediate equity in the properties. This will make getting a loan, whether for 5 individual properties or a consolidated loan, easier on the borrower. And you will surely get a better interest rate from the banks with these favorable terms than you ever could from an individual. All properties combined are worth $430K and a seller could even sell them off individually for higher amounts, if desired (local real estate agents would list the properties for sale higher than the values described in this auction). Our focus with these properties is about home rentals, not "flips." Whoever picks up these properties will be getting a good deal and the banks and lending institutions should appreciate that. Interested parties are encouraged to contact their bank for more details. They can walk you through the options so you can bid with confidence. Since they are income producing properties with positive cashflow, why are you selling them? We are selling to pay down mortgages on other properties. We have a number of properties and have hit a point in life where it makes sense to consolidate and pay down our outstanding loans. We will use the proceeds from this transaction to pay down other properties. How do I get financing? The numbers for these properties are very attractive. You should be able to get loans for all properties for around $2,000 / mo and earn north of $4,000 / mo. This makes the opportunity attractive even if you have less than 100% tenancy. Please reach out to your bank, financial institution, or local credit union to make sure you are able move forward. The income and the cap rate should make this a much easier conversation, but reach out if your bank needs additional information or specifics during the pre-approval process. Would you consider a "fire sale" on these properties? No. These are not distressed properties and we are not distressed sellers. These are income producing properties that have been well maintained. We are selling for a fair price ($375K). How do you find tenants for vacancies? We are the "go to" provider of properties for the healthcare recruiter for the town of Houlton. This means that all the healthcare professionals coming into town looking for long-term contracts (typically 3 years) go to us first. We're their preferred group for rentals as they've had great success with us. Plus, we have the Customers & Border Patrol and a variety of non-profits that we work with. These are our first stops in sourcing a new tenant as they are highly reliable for sourcing strong tenants. That said, we have templates set up for all properties on Zillow and within 24 - 48 hours of running an ad we typically have a dozen or so prospects. This is one of the best parts of this opportunity. We've been sourcing tenants for 13 years and have identified all the best ways to go about it. What is the process to purchase the portfolio? The best way to learn more about this opportunity is to reach out. We can schedule a phone call to go through all the details connected with the properties. We can then talk through the purchase process together and make sure all your questions are answered. Normal 0 false false false EN-US X-NONE X-NONE Condition: This listing includes a portfolio of five (5) separate income-producing rental properties in Houlton, Maine. These properties are in an area with minimal property tax and minimal operating expenses. All properties include existing tenants with long-term leases or rental agreements. All properties are well-maintained and income generating. Being sold as a portfolio., Seller State of Residence: Colorado, Property Address: 17 Highland Ave, State/Province: Maine, City: Houlton, Zip/Postal Code: 04730, Property Type: House, Number of Bedrooms: 3, Number of Bathrooms: 2, Sale Type: Existing Homes, Square Footage: 1408.0, Setting: Urban, City, For Sale by: Owner

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