All Forum Posts by: Brett C.

Welcome Teron.  Congrats on ending your tour soon and thank you for your service.  

Lots of cheap property in Rochester.  Depending on your family situation do what I wish my wife would have let me do when I ft out of the Marines:

VA loan on a 4 plex that you live in for a couple years and then move on.

Can't beat zero down on a multi family via a VA loan!! Just note that you can only have one VA home loan a a time, so when you leave the 4 plex your personal residence will need to be FHA/conventional or you'll have to refi out of the VA loan. But if you play you cards right on a 2, 3 4 plex via loan you are gunna PRINT money!!

I should be able to make it too.  

Is the time really 739?  Kind of a random number but its a tavern so I'm sure if I arrive nine minutes early I can get a head start on a manhattan.   

Thanks Anne.  After sleeping on it they seemed to have pulled a 180 so hopefully everything will cool off but I'm on guard.   

Ann you're awesome. I feel like your my RE Fairy Godmother and instead of clicking my heels or something I just have to post "NH" in a forum and you appear immediatly to help!  Ill PM you for that referral.  

How long on avg do you guys think the process can take in NH?

Hi BP Fam,

Quick background, my tenant requested to be 2 days late on rent and I had already made the due date for rent the 3rd of the month to accomodate this tenant. My tenant asked if they could be a couple days late in Dec via txt and I said no, I've already moved the date back 3 days. What does two days matter? Not much, and the tenant has been pretty good, they are just starting on a new lease after having been there 1 year. This tenant has always tested me though and I've always been extrememly accomodating so I felt like I would be going down a slippery slope and I wanted to show resolve, and with two weeks before rent is due I felt like they have plenty of time to be working on solutions OTHER than asking for me to make further accomodations.

Well the tenant was not happy. At first they said they would have it on time but expressed some anger towards me. But then I received some follow up texts that I believe were essentially threats not to pay, ever! I called the tenant to talk, we've always had a good relationship, no answer. I called one more time, no answer. I left a text saying I attemtped to reach them and that I'm sure talking would be better than texting. No response.

I feel like I need to get myself ready for the worst. Does anyone have detailed advice or resources for the eviction process in NH? I'll contact my lawyer to get their advice as well and details on the paper work but I was hoping maybe I could get into contact with some NH landlords who have been through this before so I can learn more about what I should do and how the process works.

Spooky,I'm Brett Cate from 30 minutes outside Manchester and I lived in Beaufort SC for 3 years while I was in the Marines which is just 40 minutes from Charleston where you are!  What a coincidence.  I used to try to surf at Folley Beach.  

Welcome aboard.  Us Cate's are renowned for our ferocious tenacity in all that we do. Work hard and you'll get some momentum soon, I'm sure of it.  I know you don't want to be a landlord but I bet opportunities abound in the Beaufort area to scoop up investment properties.  That place is loaded with investors who rent out to God's most perfect creatures, ie the local Marines from Parris Island and the Air Station.  That's a great place to market to out of state owners and get seller financing as these investors are savvy enough to understand the benefits of holding paper.  

Roy you are correct. That's basically it in a nutshell. The rest is just details, insurance stuff, HOA stuff. That's a good way of describing it.

a duplex is a single entity, a single deed. A Condex (at least in my region) is two seperate properties with two seperate deeds that share the land and have an HOA that manages the land and outer structure (roof / siding etc). There must be a master insurance policy.

It has nothing to do with a duplex other than it is easier to tell people to imagine a duplex bc we all know exactly what that property is in our minds. You say Condex and people's heads explode, as evidenced by this exchange :)

Hey Matt, land ownership is shared, taxes on land are split right down the middle.  Usually the tax map will show a diagonal line splitting the land.  So that's def something you need to consider when vetting your co-owner.  We can talk on the phone about it if you have more questions.  PM me if you want.  Good luck.   

So glad to hear that Ursula! Do you know the terms they require on the 20-25% equity requirement? With FHA it must come from your down payment and/or no other loans can be used, ie no second position investors. With private money i've heard sometimes they don't care if you have a loan with an investor or partner in second position, wasn't sure if you knew if that was a possibility with NFCU's buiness loan that you used. If we can do that I'll be able to retire in like 5 years :) I can get reasonable rates on 20-25% in second position all day so long as I buy at a slight discount and cash flow well.