CLAREMONT NH - Any Landlords have experience in this small city?

Question

Hey All, For a long time i've had a suspect view of Claremont NH. Anyone on here have experience with investing there?

Any opinions? I know its below the avg poverty line for NH

New Hampshire

Thanks

Kyle Lacasse · Answer

I have a building in Claremont.  Neighborhoods don’t seem to be as bad as they once were.  Tenants still aren’t of the best class, but cash flow is outstanding there.  Feel free to connect with me and I can add more specifics if needed.  I’ll be unloading one of my investments up there in the coming month to wrap up something I have closer to my home location.

Jordan Rabb · Answer

@Sean McKenna its kinda light blue/ grey, with blue trim. definitely on the older side.

I appreciate that! ill definitely be in the area a lot, seems like there's some solid deals. I've pretty much had it with Massachusetts. I was looking in South Carolina and the west coast of Florida. but might just take it slow and poke around Manchester until the market pulls back

Justin Tuminowski · Answer

Hahah thanks- never said cheap, said GOOD lol

Thanks for the breakdown, much appreciated 👍

Sean McKenna · Answer

First things first.  No such thing as a cheap plumber anymore.  I rank a company by Will they show up for the scheduled time and complete the work by the deadline on budget. For plumbing my go to Jim Trombly.  They have never let me down. next I call Daigle in Hookset. Then Daigle in Derry. If it’s a remodel and a time line you need to meet. Call Jim Trombly, something smaller I call Daigle in Hookset.

Justin Tuminowski · Answer

Hey Sean, any good plumbers in the area? Small shops? my usual is tied up on a development.  Thx

Justin Tuminowski · Answer

@Jordan Rabb

I mean of course you can raise value with warranted repairs and good upgrades.

Do Yourself a favor and look at comparable houses like the one you want.

Look for some sold or on market. Maybe see someone providing a turnkey deal. That should give you a real example

Jordan Rabb · Answer

@Justin Tuminowski ah hate to hear that about ARV. Yup, no use in getting attached to it before the inspection. Thanks for the help.

Justin Tuminowski · Answer

@Jordan Rabb if the numbers work for you, then go for it! Looks like a better neighborhood.

What I see with Manchester personally, I don’t see much appreciation or ARV rise.

ARV  is what I strive for.

We are of the BRRR style of investing.

Also, number of bedrooms and rents are mild compared to smaller towns with dense clusters of multi families.

Regardless, I think you should think positive of your potential investment and knock it out of the park. Work on your negotiation tactics, lower the price and get that house!

Good luck

Jordan Rabb · Answer

@Justin Tuminowski @Sean McKenna the one I have under is on Oakland Ave. It looked good on paper because its near a hannaford, cvs, a little shopping center and Billys sports bar. I may be way off, but I think I can get 3000 in rent. It has 3 bedrooms on the first floor, 3 bedrooms on the second floor and an in law suite on the third floor with its own bathroom and kitchen. at 270k it seems like a good enough deal. Obviously ill make the decision after the inspection.

right now I have to decide if I can live with these Manchester deals or just move out of market down south. investing in Boston has become impossible! Would love to hear your guys take on Manchester.