Learning the Market
Hi everyone,
One big question on my mind as someone that is starting out and looking to buy his first investment property. How do I find information on the market and or read through the noise as they say? There isn't much info about the markets in New Hampshire on the forums unless I am just not seeing it.
I would like to find the best place to start to look for good properties/deals. I am looking for a duplex if not a 4 plex. I think I think small multi would be a good start?
Best,
Dan
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
Call realtors, they are in the trenches.
I noticed that as well when looking for info on here about NH, you won't find much but it's a strong market that appreciates and hasn't really had the big price drops that you've heard about in other parts of the country. As far as looking at duplex's on the MLS via sites like Zillow and such you'll see there isn't much available right now. Back in the fall a lot of them had been sitting for awhile but got scooped up at the year end/January. I'd recommend listening to Axel's multi family wealth podcast as he invest in NH he recently had a guest on from MA that invest in NH and it was basically a whole episode on NH
Hey Dan!
I agree with what Eliott posted above. You aren't going to be able to find much market specific information or data for a smaller market like New Hampshire on the forums. Your best bet is to reach out to an agent that knows your local market. New Hampshire all though a small state has very different local markets from the mountains to the seacoast to Manchester and Portsmouth. Looking at state data will be helpful but it will be even better getting more hyper focused information than that. Happy to help you get connected with an agent in Manchester if that is your goal market.
Here is a resource as well as far as information about the NH market. NH has one of the largest housing shortages across the US right now.
Hi @Dan Hopkins, yes finding New Hampshire information is quite tough any where just because it is such a small state. I am an agent and investor out of Keene, NH and do cover over towards the Manchester area if that is where you are looking to buy. Feel free to shoot me a message with any questions, I would be happy to help!
Multifamily market data can be tough to suss out, unless you develop a relationship to someone with MLS access. If you have that relationship, you can ask them to run reports for you. But trends can be difficult to spot simply because any given statistical sample in a low-inventory market like NH isn't really large enough to draw general conclusions. I track MF data in Hillsborough, Rockingham, and Merrimack counties and I don't gain much insight beyond my own experience in the market. I'd say conversations with agents and property managers will give you the best insight.
Market data for single-family properties and condos is much easier, even without MLS access. The NH Association of REALTORS® just added a feature to their public web site called FastStats that lets you pull up data by town or county. Go to https://www.nhar.org/resource/... and click on the "All New: FastStats!" link and use the default "Local Market Updates" search. The "NH Monthly Indictors" link provides state-wide info, but I would be wary of relying on those numbers because parts of the state are very different (Coos County and Rockingham County might as well be on different planets).
That answers your question about market data. You asked about the best place to look for good properties/deals, which is a different question, and there IS plenty of information in the Forums about that. Find a great agent, network with other investors/property managers, build your own lists for direct calls/direct mail, etc. I'm in Manchester myself, so if you ever want to grab coffee or a beer, feel free to message me.
Quote from @Dan Hopkins:
Hi everyone,
One big question on my mind as someone that is starting out and looking to buy his first investment property. How do I find information on the market and or read through the noise as they say? There isn't much info about the markets in New Hampshire on the forums unless I am just not seeing it.
I would like to find the best place to start to look for good properties/deals. I am looking for a duplex if not a 4 plex. I think I think small multi would be a good start?
Best,
Dan
Contact Shane Moynihan on here!
Quote from @Greg Powers:
Multifamily market data can be tough to suss out, unless you develop a relationship to someone with MLS access. If you have that relationship, you can ask them to run reports for you. But trends can be difficult to spot simply because any given statistical sample in a low-inventory market like NH isn't really large enough to draw general conclusions. I track MF data in Hillsborough, Rockingham, and Merrimack counties and I don't gain much insight beyond my own experience in the market. I'd say conversations with agents and property managers will give you the best insight.
Market data for single-family properties and condos is much easier, even without MLS access. The NH Association of REALTORS® just added a feature to their public web site called FastStats that lets you pull up data by town or county. Go to https://www.nhar.org/resource/... and click on the "All New: FastStats!" link and use the default "Local Market Updates" search. The "NH Monthly Indictors" link provides state-wide info, but I would be wary of relying on those numbers because parts of the state are very different (Coos County and Rockingham County might as well be on different planets).That answers your question about market data. You asked about the best place to look for good properties/deals, which is a different question, and there IS plenty of information in the Forums about that. Find a great agent, network with other investors/property managers, build your own lists for direct calls/direct mail, etc. I'm in Manchester myself, so if you ever want to grab coffee or a beer, feel free to message me.
Thank you Greg,
That was very insightful and I will look at that link tonight and get that started. I appreciate all the info I can as I am a small fish in a big pond. Veery excited and trying to take baby steps to understand more so less mistakes happen.
Best, Dan