Investment property in NH - What areas?

Question

Hi Everyone!!

I'm new to investing in New Hampshire.  I am from NY and I am interested in investing in New Hampshire.

I'm looking at either single family or apartments.  I realize that will probably be 2 different areas, but I am interested

in looking at both.

Any advise would be appreciated.

Thanks!

Mike Shemp · Answer

@Ilona Kovacs We have a home in the White Mountains.  It is a popular vacation destination for most months except April and November and there are short-term rental opportunities.  On the flip-side, there seem to be a lot of people who have purchased STRs in that area so you may need to be aware of market saturation or how you will make your STR stand out.

Jessica Stevenson · Answer

Hi @Ilona Kovacs,

I would recommend spending some time searching the forum here on BP to get a better idea of NH and what types of properties people are acquiring and what some of the main challenges are specific to the area.  That will hopefully help give you some direction as to what region of the state and what types of properties you're drawn towards.  This obviously has a lot to do with your personal investing goals as well, so make sure you're clear on those.

As with any state, cities are going to offer the most options.  In NH, those include Nashua, Manchester, and Concord.  Being from New York you're not too far away, but do you have people in NH that can help guide you?  Investing out of state will require quite a bit of leg work on your end well before you're ready to actually make a purchase.  Make sure to take the time you need to do your research and build your team.  Good luck!

Richard Lovering · Answer

As most said, it will depend on your goals. I'm a NH resident for 40 years and have lived in the southern portion of the state most of my life. I operate businesses in Nashua and Concord. Started purchasing commercial multifamily units this year and primary targets are Manchester and Nashua, based on population and location of employers in the state. There are some good secondary markets around Manchester and Nashua as well as Concord too. Best of luck!

Rick

Siva Sivakumar · Answer

I am also new. I am thinking of Nashua, Manchester area, SFR

Lien Vuong · Answer

Depends on your strategy. It has an abundant amount of inventory and rental strategies

- short term, the lakes region or white mountains

- long term (manchester, nashua, concord)

- there's also a lot of different colleges you can deploy the college rental strategies which is attractive

A word of caution is that the taxes are very high so be mindful of that when you're doing your calculations and management tends to be 6-8%. Cost of labor is lower and tenant class tends to be lower overall.

Andrew Gilmartin · Answer

In New Hampshire, you have a good chunk of the population residing in the southeast portion of the state, predominantly between Nashua and Concord.  New Hampshire is a popular tourist destination, you may have short-term rental opportunities in either the White Mountains, Lake Winnipesaukee or Hampton beach.

Investment property in NH - What areas?

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