First Multi Family question

[Matt Crow]

Ok, we've decided that our first Multi Family unit will be a 3-4 unit one. I'm seeing a few different "parameters" though on how to narrow them down.

We're looking in Southern NH only right now. Specifically in Hillsborough and Merrimack counties. My question is how to narrow it down quickly? There are 80 that meet our search criteria and if I take current rents divided by sale price I'm seeing the lowest at .007% and the highest at .016%. That's obviously a large range, but I'm not sure what the norm is in this area. But maybe I'm on the wrong starting point? Is that the best place to start narrowing down the list or is there a better way to begin?

[Jeff Kehl]

I think you should look at as many as possible to uncover the best deal. But if you want a few suggestions on cutting it down to a more reasonable number here's some.

- exclude any below 1% RV

- exclude any with landlord paid utilites

- exclude any built before 1980

-  exclude 1 brs and studios

- exclude any that weren't built as multis (ie converted SFRs)

That may leave you with none to look at so then you can back off the criteria a little.