About to buy my first property

Manchester, New Hampshire
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About to buy my first property

Philip WalshPro Member
New to Real Estate · Manchester NH · Member since 2025 · 7 posts · 6 votes

Hi all! I'm new to RE investing with a background in finance and knowledge of home building. I plan to use these skills to build a rental portfolio that will help fund my retirement in 15 years. My long term goal is at least $50k in annual cash flow. I'm currently focused on the Manchester NH market and am under contract on my first property- a two family in need of cosmetic improvements. 
I'm here to learn from those with more experience than me with the hope I can repay the favor in due time. 
Looking forward to connecting!

Philip 

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  • Jules Aton
    MD/DC · Member since 2024 · 1k+ posts · 1k+ votes
    1y

    Congratulations on your first deal. 

    0Reply
  • Izaiah Barba
    Wholesaler · Portsmouth NH · Member since 2019 · 204 posts · 94 votes
    1y

    Congrats on the deal, Philip, and welcome in. Starting with small multifamily and a long-term vision is the right lane. If you want to talk through anything as you get going, feel free to DM me. Happy to help.

    0Reply
  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    1y

    @Philip Walsh welcome to BP and congratulations on your first deal. 

    0Reply
  • Sean GrahamBusiness Member
    Investor , CPA · Detroit, MI · Member since 2016 · 582 posts · 248 votes
    1y

    Congrats on being under contract on your first property, Philip! That is a huge step. Your background in finance and home building will definitely come in handy as you grow your portfolio. Cosmetic improvements are a great way to add value right out of the gate. Excited to see how things play out for you and looking forward to hearing updates as you work toward that $50k goal.

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    0Reply
  • Sean GrahamBusiness Member
    Investor , CPA · Detroit, MI · Member since 2016 · 582 posts · 248 votes
    1y

    Welcome to BiggerPockets, Philip! 

    Looking forward to watching your progress to achieving your 15 year goal. 

    Take a look into cost segregation if you're looking into rentals! 

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  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 890 votes
    1y

    @Philip Walsh

    Hey Philip, congrats on getting your first property under contract! Manchester is a solid starting market, especially for cash flow-focused rentals. Since you have a finance and home-building background, you’ll have a big advantage in analyzing deals and estimating rehab costs. If you ever want insights on markets with strong cash flow or off-market opportunities—both local and out-of-state—feel free to reach out. It can be a huge boost when building your first portfolio.

    [email protected]614-418-6081
    0Reply
  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    9mo

    Congrats on getting your first property under contract, Philip. With your finance and home-building background, you are already ahead of most new investors. From a tax angle, that two-family is a solid start because you can use depreciation to reduce taxable rental income, and your cosmetic upgrades may qualify for deductions or depreciation (like someone above mentioned, definitely look into cost segregation), depending on the work. Understanding how rental income is taxed and how short-term versus long-term rentals interact with your other income streams and fit into your overall financial picture will make it much easier to reach your goal over time.

    As you grow, good bookkeeping and recordkeeping (especially if you are planning to be REPs or materially participating) will go a long way.

    Good luck, and happy to connect.

    [email protected]941-914-7779
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  • Sierra Michie
    Member since 2025 · 7 posts · 4 votes
    9mo

    Congrats! I live in NH as well and am trying to build my portfolio. Keep posting updates, I would love to hear! 

    0Reply
  • Bianca BarcelosBusiness Member
    NH · Member since 2026 · 77 posts · 41 votes
    1mo

    Congratulations on your first deal! Would love to help analyze future properties and seek out the next big opportunity.  Maybe we can grab coffee and talk about your future buy-box and what you want your portfolio to look like long-term. I'm an investor and an agent in Manchester, NH. :)

    [email protected]
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