All Forum Posts by: Anne T.

@Account Closed, a quick look on VRBO for northern NH shows a few cabins, but they all appear to have basic amenities or are at least waterfront or located along snowmobile trails. How far is the property from "access"?

The other issue is turnover. Assuming it's a vacation rental, then you would need someone local to 

1. Allow access
2. clean
3. be available for emergencies/repairs

That might be a bit challenging for you to manage from Ipswich.

@Russell Holmes. A quick question... how old are your kids? If they are under 20, then involving them in the development and subsequent day-to-day management (well, weekends and school vacations, really, when you are talking about a paintball place) of a Paintball facility would afford them an opportunity to learn how to run a business (and how to delegate and hold both themselves and employees accountable). Also, the revenue might launch your ability to tackle your other goals faster. All in all, if the town is on board with it and your wife is good at marketing (and the numbers work), I would say go for it. The only major "risk" is adequate liability coverage.

On a separate note, your wife should sign up through UpWork.com to start her marketing career as an independent contractor/consultant. Start with little jobs, gain some experience and credibility on the platform, and she will eventually develop a consistent client base. That's where I found my programmers, PAs, and db folks. Love the platform.

@Axel Ragnarsson, I recommend you have a conversation with @Ann Bellamy. She is also usually at the NHREIA meetings in Manchester every month. 

Try Olde Tyme Craftsmen out of Hooksett. A friend of mine owns a flooring store, and she has had excellent luck with them.

nhwoodfloors.com

PM me. I have a great guy who works that area.

Hi Jason. I may know a couple folks. PM me.

@Charlie MacPherson, @Richard Charity, @Tucker McCarthy -- I spoke with the USDA rep in Concord. She confirmed that they are only servicing existing USDA RD multi-family loans and are not issuing any new loans. I did respond to see if I can find out if that is only a New Hampshire-specific problem, or if the program is no longer accepting new applicants anywhere in the U.S. Again, I'll let you know what I find out.

Also, the original program did not allow for owner-occupied housing as far as she knew, but she could not direct me to the specific regulation (and I was unable to find it myself). If anyone knows the Reg #, I'd appreciate it if you would forward it to me. Thanks!

@Stephen Polizzi, what area of the state?

@Michael Victor Cutter. Welcome aboard! And I have to agree with Ann Bellamy's cautions. Hillsborough (the town, not the county) relies primarily on Osram Sylvania for employment. I live in a pretty nice neighborhood, and even I wouldn't purchase an income property here for a first purchase. There are a lot of "opportunities", but you don't want your first investment to be in something that will likely cause you financial (or emotional) headaches. Were you just looking for a turn-key multi-family opportunity?

@Richard Charity . I haven’t done an RD for multifamily. I actually bought my home with the RD Direct Loan program after my divorce, though. Those of us in the Northeast think USDA=farm. Lol I actually had the same reaction you did when I found out about the program. The USDA Rural Development program is based on population density. While Nashua and Manchester do not qualify, surprisingly the vast majority of NH does. As I said, Goffstown, Weare, pretty much 98% of the rest of the state. It’s just how they wrote the rules. The RD program is designed to stabilize “rural” communities, where income opportunities may be less (along with payscale in general). You don’t want everyone moving to the city and abandoning hundreds of thousands of square miles in between. A healthy economy depends on diversity, and especially support for those large swaths of land used for farming—those little towns like Hollis and Brookline. Thus, the RD loan program exists to encourage people to live in small towns. There are a lot of requirements and—as with any federal program—a ton of paperwork. Both the person and the property have to qualify. Anyway, I didn’t have a chance to call the office today for clarification on whether the multifamily unit loan program allows owner-occupants. I can’t see why they wouldn’t since you would have to hire a management company if your are not on-site, and that may be more cost-prohibitive than simply being there. I’ll find out more and get back to you.