I live on the West Coast but have a brother that lives in NH. I figured since I wanted to buy an investment buy & hold house, so why not do it near where he lives so when I visit once a year it's a write off.
I was looking at NH for a little bit but the property tax seems really high. So it seems like MA would be a better place to invest. Looking at a properties from 100k to 200k.
Some areas in NH or MA I was looking at include Wilmington, Lowell, Nashua, Burlington, Manchester, etc.....
Looking forward to hearing the locals or those that have invested in the area and how your experience has been.
I have been looking in the upper MA and NH areas for multi's as well in the same price range. I have looked at Lowell, but my biggest thing is the parking. It's hard to find a property that cash flows and has off street parking.
I've grown on near Lowell and there are some tough neighborhoods and a few recent gun related incidents. Area's like Centralville and the Acre you want to stay away from (I used to live in the Acre...going for a run was always interesting). Areas like Belvedere, Pawtucketville, and parts of South Lowell are great neighborhoods. There is actually a property that is foreclosed on Lincoln St. in Lowell I looked at listed for $169k, but it needs a lot of work. The biggest problem is being one corner of the house has sunk a good foot..I don't want to get into that mess. Plus most of the houses are old and don't have lead certificates which can screw you bad if you rent to a family with young kids.
You are right about the property taxes in NH being high. It's because there is no state income tax in NH. Nashua is a hot market for multi families right now, but if I were you I would stay away from the "number streets" (i.e. 1st, 2nd, 3rd, etc.) and the "tree streets" (pine, ash, walnut, etc.) as they call them. Very bad neighborhoods.
You're not going to find much in Burlington for that price range. Burlington has recently gotten hot in the past 5 years with a lot of development and high end customers with high property values.
Other hot markets for multi in MA are Marlborough and Haverhill.
Good luck on your future investments.
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