All Forum Posts by: Andrew Bosco

HUGE fan of the Schlade Encode. If you have cameras, then you must tell tenants the locations. Doorbells are fine! I keep access for myself. 

Hey Willie. For RBR - I use electronic door locks on each bathroom, 2-3 people per bathroom, build in a cleaner per month or every 2 weeks to the contract, supply toiletries and basic condiments, ensure your fridge/kitchen space is big enough and make sure you have parking. That should eliminate 90% of your issues. 

Hey all! 

This helps out house-hackers (like myself) a ton. Starting Nov 18th, buyers can purchase 2-4 unit primary home with only 5% down. FHA is still a good option, but the fact that you can get a 2 family to owner occupy at 5% conventional is a great tool in your toolkit. Getting rid of income restrictions should help out others to put low money down.

How do you think this will impact the buying market?

 I just ask them to have it because it could be 3-6 months and especially during the winter - you just never know. 

Hey all, 

Decided to address the Southern NH market as is. As always, leave me any comments or some review of the data. If you want to see any location be it zip code, county, cities or timelines, then let me know. 

Summary:

As I said, I am back in action after being away! I wanted to take this morning to send some updates on what I think is going on in the market for all types of buyers be it seasoned investors or FHA buyers. Currently, there are 46 multi-family properties that are on the market in Hillsborough county and we are seeing higher DOM with many properties sitting. This can be a result of higher interest rates and higher sales prices. We know that rates were paused previously, but the Feds announced they will raise the rates by the end of the year. This will be the last push of inventory until the slow winter season. All this said, I have some data to share with you.

Data comparing 2022 Q3 and 2023 Q3 (year by comparison)

In terms of DOM, we are seeing properties sitting longer by the coast in Rockingham and Strafford, as well as Merrimack county. Hillsborough continues to be competitive. Belknap county has much lower DOM (this is a skew because there is much less inventory).

This is one of my favorite charts because it tells us the sales price vs. closed price competitveness. Rockingham continues to be competitive, as well as Belknap. That said, Q4 will be interesting to see these values as many multi-families have been priced higher with rising interest rates, so it will be interesting to see what closes at certain values.

Another set of interesting data. Comparing Q3 of both 2022 vs. 2023 - we are seeing slight increases in pricing per unit, which is to be expected to an extent. The difference across the board for Hillsborough county (most number of multis in the state) has increased roughly 30K per unit across 2-4 units. 2 families now cost an average of 500K, 3 families cost 550K, and 4 families cost roughly 630K. Now, this may be skewed a bit since I know numerous off market deals where 3 families (big ones) were selling for 600K and 4 families were selling around 700-800K. This data is not supported by the MLS since they were off markets, but it's important to know that is happening.

Additionally, Rockingham continues to show an increase and the other counties show a very small increase of 5-10K per unit.

Here we are seeing a general increase (for the most part) of cost per square foot of buildings. Rockingham saw a dip, but again, an inventory problem.

I keep mentioning inventory, well, here it is. Strafford county actually did quite well this year in terms of cash flowing through in September, but the number of units was down by quite a bit. You can see the inventory of 2022 vs. 2023 is down quite a bit. We’ve seen this same trend year after year. It will continue to happen with new owners holding on to their sub 4% interest rates, or so I think!

Some of you may have noticed these recent sales. This is one sale of each property as one sale. The entire portfolio sold for 5.7 million at a listing price of 6.12 million. Just wanted to bring attention to this sale.

 5-10 people could if the space supports it. Give it a try and see if you like it. Some people dislike the multi personalities. You could probably rent 700-900 bucks per bedroom pending your area or the whole house for 3K+ pending your area (I'm using New England numbers). You just need to vet each tenant well to avoid major headaches. 

Room by room is specific to each apartment. I personally don't feel it is worth the headache unless the building can support the space required. Whole housing is less headache, especially when starting out. Make sure you use door locks for room rentals for each room and have the space to support storage. 

Policy Type: Varies depending on the property like single vs. multifamily. I don't consider it a STR policy since my minimum stay is 60 days. Insurance company says the same.

Recommended Insurers: best coverage at the most affordable price. I use a local insurer by me who is actually costly, but if ANYTHING happens, then I am covered. 

- Renters insurance: only if staying for more than 90 days. 

Hey all, 

Just trying to add value after coming back from my honeymoon! I've been sharing resources and here's 1 more; 

Handoff List - great for listing managers sharing tenant info with leasing/property managers. 

In-case others missed the other freebies - here you go. Please feel free to leave a review, donate or whatever you need. I've had numerous people reach out and thank me for my resources. 

1. Furnished Rental Checklist: https://docs.google.com/document/d/1RzTpNu1Vsm1_PJxPa_uTk5vL...

2. Items to purchase list: https://docs.google.com/spreadsheets/d/1Yls8YiWI9WIs0J-jWYdD...

3. MTR Presentation: https://docs.google.com/presentation/d/1qCD_XIgmg-2BGGzsDbWq...

Remember, rising tides raise all boats.