I’m from Southern New Hampshire. My brothers and I have been discussing real estate investing for the last year. Our father has done well with real estate investing over the years. We have enough pooled capital for a down payment on our first property. We collectively have experience with start up companies, architecture, business lending and medicine. The last one doesn’t carry over into real estate investing as well but might help pay the bills.
We're looking in Southern New Hampshire, New Hampshire Sea Coast and the Greater Boston area. These are the areas were at least one of us are located. Our primary interest is in multifamily properties that need rehab but single-family flips have been discussed as well.
My number one suggestion is to talk to your father and learn from him on what's done well and how he has succeeded.
With so many close parties involved, I think you need to figure out everyone's goal. I suspect some of you might like the potential quick cash from a flip while others might like the depreciation and long term stability of a buy and hold.
In addition, how many brothers do you have? Has the number of parties gets larger and larger hopefully you have enough capital for more than one property or one larger property. Cap rates in the northeast are compressed and splitting thin profits multiple ways could be difficult.
Thanks Dan. My father is always good for advice and we’ve already talked with him about Successful strategies.
It’s a total of four of us working together and the problem of splitting profits 4 ways and differences in how we should proceed is not lost on me.
I would recommend attending one of the many REIA groups that holds regular meetings in these areas. You can also find investor meetings on MEETUP. There are several bigger players in the area but there are deals to be found if you are aggressively networking and building your team. Good luck and welcome to the game!
Going to one tonight. Thanks
Greater Boston area is very expensive, low returns for the most part. If you don't want to look in Southern MA, then maybe west of Boston may be better than Boston. I think you may have trouble finding something in Boston that makes sense.
The Greater Fall River MA area on the Southcoast remains a great place to invest in multi-units or even single family homes. The current rental market has made some incredible leaps and bounds just within the past 12 months. The close proximity to Providence & Newport RI along with east access to the Cape and up to the Boston area makes this a great area to invest.
Nice to see someone from Hollis in the forum. I just moved to Hollis from Nashua not too long ago. I am looking to connect with investors in the area. I haven't made it to any of the meetups yet. Hoping to do so when my schedule aligns.
nice to meet you. There is a meetup the third Wednesday of each month in Nashua. I went last month and meet some nice folks.
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