Buyers in New Hampshire

10 Replies

Hi @Cynthia L. Smith - New Hampshire is a great place to invest, so welcome!  Our major cities are Nashua, Manchester, and Concord, and there are lots of good opportunities in those areas.  The seacoast is another great market that is growing and expanding rapidly.  Further north you'll get into the White Mountains, which can be great areas for vacation rental homes.  Can you clarify a bit about what types of properties you're targeting?  I'm happy to jump on a call with you if that's easier.  

@Cynthia L. Smith  did't mean to hijack your thread but had a similar question wanted to elaborate here..hope will bring others input benefiting the thread

this Kazi from Boston about to move to NH Manchester area initially after living here long time. I've been looking around for few months while hanging out here on this forum time to time. Even though lived in Mass for last 10 years didn't get to know much about different towns of NH , moreover for investment purpose. I was wondering if you could share two cents giving some high level direction on which towns and especially the neighborhoods in them would be the right to go in this current market for my scenario given you guys longer experience in NH. 

My goal is good cash flow aiming for (2% rule with high on C2C which is little aggressive) with moderate-high appreciation over long term. I already saw several properties in North Western part (Keene, Hinsdale, Claremont) where the numbers seems like could work but the other thing is I have to find a place to live myself now and can't live in those areas yet both because of work and lifestyle wise (I need to fly couple times a month could be more down the road for work unless I work from home). So that leaves me with the only option to live somewhere withing 30 mins commutable distance to MHT airport from where I could live, work and manage a multi but the numbers are super hard to make it work for something decent that could be a owner occupied property. I didn't come across anything so far that would push me just little over the breakeven running all these numbers. 

I was thinking to do a short term rental in the Manchester area and keep looking surrounding towns or would I be just wasting time? What are my chances of getting something decent that barely does breakeven in that area or those deals are almost very rare to come by unless done huge rehab? Any specific part of the the town/neighborhood you would suggest? What other town you'd consider for my given scenario? Then once I settled in then later I could focus on multis in distant areas for little better cash flow. whats all your thoughts?

I would echo what @Jessica Stevenson said in terms of what areas have some deals.

@Imran Ahmed given what your looking for a owner occupied multi in the north end of Manchester might fit your needs.  I would start there and expand my search outward to other neighbors that are attractive to you.  There are some nice neighbors in Nashua as well but Multifamily property is more limited.

With that said finding something that meets the 2% rule or has a high COC return will be a challenge in this market.

@Matthew Stanizzi thanks for your input. I didn't mean to get a 2% with COC in Manchester. Even though I'd like where I can live as well but seem like unlikely. I meant those numbers for future rental property investments other areas mentioned above in the sate. For now, I want a multi in Manchester where I can do house hacking and after all bills and expense I could basically live without paying anything out of pocket, extra bucks would be awesome!

I'm looking for 4 unit buildings, with separated utilities, and good bones under 200k in these towns:

Belmont, Gilmanton, Laconia, Gilford, Tilton, Northfield, Pittsfield, Loudon, Glendale, Chichester, Canterbury, Barnstead, New Durham, Alton, Boscawen, Sanbornton, Strafford, Penacook, Coburn, Epsom, Hill, Concord, Meredith, Allenstown, Sanbornville, Hopkinton, Bow, Barrington , Henniker, Plymouth, Candia, Hooksett, Weare, Auburn, Lee, Ossipee, Goffstown, Somersworth, Chester, Pinardville, Epping, Madbury

guys I am very interested investing in NH and been looking for quite some time. @Jonathan Killam do you currently own any multi in any of these towns? I am finding that an available and right property management is challenge for many of these towns especially those are kinda remote from the bigger ones.