2nd Home investment in NH Lakes region

[Tony Wallis]

Investment Info:

Condo other investment.

Purchase price: $112,000
Cash invested: $45,000

Vacation Home that we will keep until we build or find a place on Squam Lake to buy. Appreciation investment as no rentals allowed. With ownership change in the community the values have jumped. Our value is up 25% since August 2020.

What made you interested in investing in this type of deal?

Got our foot in the door for a very desirable location, Squam Lake NH. We want to live in this area full time in the next 3-5 years. We got a slip on the river between Big and Little Squam which is next to impossible to get. Continuing to build new relationships and growing my real estate business in the lakes region of NH.

How did you find this deal and how did you negotiate it?

Went to list it, saw the potential and bought it.

How did you finance this deal?

Seller finance for 1st year now have a mortgage thru local Savings bank.

What was the outcome?

Spending the summers at the home and loving the mountains & lakes.

Lessons learned? Challenges?

Financing was really difficult because of the type of condo.