New Hampshire Buy & Hold

10 Replies

Hey Y'all, long time no talk :)

I am doing some preliminary research into house hacking in NH and was wondering if anyone knew which communities are in that sweet spot where it is safe to live, there is tenant demand, there is some inventory, but prices are reasonable... haha I know asking a lot... maybe this is super secret info.

Thanks!

Sean

Depending on your budget, I would say Dover, NH! But if you want to spend more money you could come to Portsmouth

Thanks for the response @Sean Peters .  I am guessing cash flow in Portsmouth is virtually non existent?  What is your business model there?

Nashua.  Or a little bit closer to home for you, some of the little towns to the immediate West of Nashua.

If I were house-hacking in Southern NH now, I would buy in Brookline.  The less expensive of the two towns in what is very possibly the best school district in the state, commuting distance to the 128 corridor or Nashua/Manchester, excellent demand.  Inventory is a bit of a problem, but you are close enough to be able to really dig in and research the town and anything available there.

I also like the prospects in Milford.

In the Monadnock area where I live, some towns strike me as opportunities, others seem to have no long term future.  Rindge wouldn't be a bad place to house hack.  I would stay away from New Ipswich, the school system is a mess.

And school district matters if you are house-hacking a SFR, since eventually you will move out and want to rent or sell to families.

Good Districts:  Hollis-Brookline, Souhegan, Bedford, John Stark, Hopkinton, Bow, Contoocook Valley

Middling Districts:  Jaffrey-Rindge, Milford, Wilton-Lyndeborough, Nashua, Merrimack

Would personally avoid:  Mascenic (New Ipswich/Greenville), Hillsboro-Deering, Monadnock, Manchester.

Thanks @Richard... I am actually moving to an apt. in Nashua in two weeks; but, I hope my next move will be to a four family fixer upper with 203k financing.  I am a real estate appraiser with most of my work in northeast MA... but I hope to start getting more work in Southern NH and really learn the market.

I don't have too much insight on the best places to house hack and get your best long term returns up that way.

However if you are going to be moving to Nashua and are looking for some guidance with that I would recommend checking out the NH Real Estate Mastermind Meeting in Nashua.  Next one if this Wednesday but it's a monthly event.  Draws well from Southern NH and some Northern MA people.  Fair number to buy and hold guys I've felt so some people might have some other insights for you.

If you remember @Gal Peretz when you used to go to NEREIA in Chelmsford, he is one of the guys that started it. 

@Sean, 

I agree with Richard C. I grew up in Brookline and it's a nice small town (it's wierd to see it referred to here in BP - it's a very small town and most people think you're speaking of Brookline, MA when the town name is mentioned!). Taxes are high of course due to lack of business; I'm not sure what the trend is now, though, i.e., if business is growing. The high-school for Brookline is in neighboring Hollis which is also a nice town and closer to Nashua. 

Also agree with Richard's mention of Milford. Milford will always have the well-known (to the area) center of town with (a?) nice small restaurant(s) while being close to Nashua and slightly larger and more busy Amherst (you may want to check out Amherst as well by the way). 

good luck!

-Dave

Originally posted by @Sean Brennan :

Thanks @Richard... I am actually moving to an apt. in Nashua in two weeks; but, I hope my next move will be to a four family fixer upper with 203k financing.  I am a real estate appraiser with most of my work in northeast MA... but I hope to start getting more work in Southern NH and really learn the market.

 Ah, well, if you are looking for four families, I guess that may change things.  Be aware that purpose-built four families are very rare in this state.  If I were looking for a small multi now (and I am not) I would definitely start in Milford.

@Sean Brennan

If you're looking in the Nashua area I would suggest staying away from the "tree streets" and the "number streets" as they are called in Nashua.  Lot of crime and hooligans in that area. 

"Tree streets" being streets named after trees

"Number street" being streets named after numbers.

@Shaun Reilly Thanks for the heads up on the meeting!  Prob. won't make that one today; but, I hope to start attending meetings soon.

@David Bennett & @Richard C  Thanks for the suggests, I will take a look at Milford!

@Nick Noon Yes, I have driven through those neighborhoods.  Yikes! :)

Wow. Great post and some really great info.  I am very new to the area.  Just moved to So. Nashua in Feb (first time in the state).  Will be here for enough years to hit my 7 years to a million time frame ;-) .  @Sean, I am also in the process of looking for a hackable 4plex.  I guess you could do the same with a 3 plex but why not max it out if you can.  I would love to meet up with you actually and talk if you have time.  Maybe grab some coffee.  Sounds like you have a little more knowledge in this than I do.  I am a total newbie and just want to get things rolling this year.  I will send you  (actually all of you if you dont mind) a colleague request. I went to my first meeting in Chelmsford last night.  It was pretty amazing.  I plan on going to the Boston Investor Group next week Wed..   JS2homes.com puts it on quarterly.  If you need the info just check out Boston Investor Group on FB.

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