New investor from underrated Southern New Hampshire:)

New investor from underrated Southern New Hampshire:)

Rental Property Investor · Peterborough, NH · Member since 2017 · 4 posts · 4 votes

Hey everyone, My name is Mike and I live in the great little town of Peterborough, NH.  I closed on my first fourplex on 4/1/17.  This building was built in 1890!  Initially, the idea was to purchase this one building  for long term investment as well as added monthly cash flow.  I've since become obsessed with idea of doing this "full time" and I can't say enough about how great of a resource BP has been.  In the 8 months we've owned it I've renovated 1 apartment, changed over tenants in two units, built a porch and learned a whole bunch of necessary home maintenance.  The building is cash flowing nicely and I'm thoroughly enjoying learning how to become a good investor and landlord. 

My goal is to purchase "buy and hold" single and 2-4 unit multi families at first as I feel these have the best initial cash flow and are easier to digest.  Down the road I am certainly interested in possibly doing some flipping and purchasing large apartment complexes.  I would love to partner on the right deals and find private money investors to work with as well.

I look forward to sharing what I learn along the way as well as picking up some great tips from you guys.  Cheers!

-Mike

P.S.  Figured I would add a picture of the old girl:)

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Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes
8y

Welcome to BP.

Wishing you continued success!

See this reply in the discussion

14 Replies

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  • Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes
    8y

    Welcome to BP.

    Wishing you continued success!

  • Bob LangworthyPro Member
    Accountant · Brunswick, ME · Member since 2017 · 354 posts · 242 votes
    8y
    Welcome to BP!
  • Investor · Manchester, NH · Member since 2016 · 164 posts · 83 votes
    8y

    Welcome to BP Neighbor.

  • Real Estate Broker · Atkinson, NH · Member since 2015 · 92 posts · 24 votes
    8y

    Welcome!

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    8y
    Originally posted by @Michael Chadinha:

    Hey everyone, My name is Mike and I live in the great little town of Peterborough, NH.  I closed on my first fourplex on 4/1/17.  This building was built in 1890!  Initially, the idea was to purchase this one building  for long term investment as well as added monthly cash flow.  I've since become obsessed with idea of doing this "full time" and I can't say enough about how great of a resource BP has been.  In the 8 months we've owned it I've renovated 1 apartment, changed over tenants in two units, built a porch and learned a whole bunch of necessary home maintenance.  The building is cash flowing nicely and I'm thoroughly enjoying learning how to become a good investor and landlord. 

    My goal is to purchase "buy and hold" single and 2-4 unit multi families at first as I feel these have the best initial cash flow and are easier to digest.  Down the road I am certainly interested in possibly doing some flipping and purchasing large apartment complexes.  I would love to partner on the right deals and find private money investors to work with as well.

    I look forward to sharing what I learn along the way as well as picking up some great tips from you guys.  Cheers!

    -Mike

    P.S.  Figured I would add a picture of the old girl:)

     Welcome!

  • Albany, NY · Member since 2017 · 21 posts · 6 votes
    8y

    Have any complications in the purchase or was it a straight forward deal?

  • Rental Property Investor · Peterborough, NH · Member since 2017 · 4 posts · 4 votes
    8y

    No Complications.  Even for its age the house inspected well and the numbers all made sense.  The bank was a little confused that being a renter myself that my first real estate purchase was an investment so they made me go through a first time home buyers course which I wanted to do anyway.  Would love if they all end up like this one but I'm not naive enough to think that will happen.

  • Rental Property Investor · Gulf Breeze, FL · Member since 2014 · 1k+ posts · 733 votes
    8y

    Congrats @Michael Chadinha! Be careful this REI stuff is addicting! A couple of blog posts I've written you might find of interest: https://www.biggerpockets.com/blogs/8160/67620-pur...

    https://www.biggerpockets.com/blogs/8160/50653-pur...

    Keep up the good work!

  • Investor · Hillsborough, NH · Member since 2015 · 137 posts · 126 votes
    8y

    Hi @Michael Chadinha

    I'm a local investor out of Hillsborough. Actually just made an offer on one in Peterborough, and looking at properties in New Ipswich and Jaffrey this afternoon.

    I'm happy to be a local resource to you if you ever need anything.

    Happy investing,

    Troy

  • Cumming, GA · Member since 2017 · 3 posts · 0 votes
    8y

    Welcome. I'm from Manchester originally but living in Atlanta now where 2-4 plexes are not as plentiful.  Great investment. Best of Luck.

  • Nashua, NH · Member since 2017 · 14 posts · 10 votes
    8y

    Welcome @Michael Chadinha.

    I'm in Nashua.

    I come through Peterborough when I run Mt Monadnock.

    Peterborough is a beautiful place.

  • Real Estate Broker · Manchester, NH · Member since 2014 · 630 posts · 420 votes
    8y

    Welcome to BiggerPockets @Michael Chadinha!  And welcome to the part of the country where we buy buildings 100+ years old and don't even think twice :).  I once found a coal bin in the basement of a multifamily in Peterborough that was still half-full of coal!  

    Keep it up, and I'm sure you'll own half of the town in the next decade.  

  • Investor · Charlestown, NH · Member since 2016 · 48 posts · 15 votes
    8y

    Welcome to BP. Sounds like you are doing good. This realestate thing can be addicting. Keep in touch. 

  • New to Real Estate · Marietta, GA · Member since 2018 · 169 posts · 40 votes
    7y
    Hey Michael, 
    Hope your investments have grown substantially since this post.
    I searched peterborough and came across your post.
    How do you like the peterborough rental market?
    Have you picked up more properties since?
    Thanks in advance.
    Best regards,

    Dieggo Goncalves

    Originally posted by @Michael Chadinha:

    Hey everyone, My name is Mike and I live in the great little town of Peterborough, NH.  I closed on my first fourplex on 4/1/17.  This building was built in 1890!  Initially, the idea was to purchase this one building  for long term investment as well as added monthly cash flow.  I've since become obsessed with idea of doing this "full time" and I can't say enough about how great of a resource BP has been.  In the 8 months we've owned it I've renovated 1 apartment, changed over tenants in two units, built a porch and learned a whole bunch of necessary home maintenance.  The building is cash flowing nicely and I'm thoroughly enjoying learning how to become a good investor and landlord. 

    My goal is to purchase "buy and hold" single and 2-4 unit multi families at first as I feel these have the best initial cash flow and are easier to digest.  Down the road I am certainly interested in possibly doing some flipping and purchasing large apartment complexes.  I would love to partner on the right deals and find private money investors to work with as well.

    I look forward to sharing what I learn along the way as well as picking up some great tips from you guys.  Cheers!

    -Mike

    P.S.  Figured I would add a picture of the old girl:)

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