All Forum Posts by: Bradley Tetu

I would be very interested! My wife is a realtor in Walpole and we own investment properties in North Walpole and Claremont.

@Ronnie Vajdak welcome to BP! My wife and I live and invest in the Keene area, mostly multi family at the moment but we have done a few flips. My wife Hilary Tetu is a realtor at Galloway Real Estate if you would are interested in working with a realtor. There are only a few places under $100K right now on Zillow but I’m sure the are plenty of opportunities if you want to do direct mail or some other advertizing method. Good luck in your search!

@Chris Perrin Welcome to BP! Where in NH are you located? I know southern NH has a few meetups and REI groups as does the Seacoast and the Upper Valley.

Brad

@Christopher Freeman I agree with @Max T.. We keep a line of credit thru Bank of Walpole and use it for most of our rehabs.

Hey @Sasha Fukuda I would suggest finding a two or three family building in the area, North Walpole has a few at the moment as does Keene. Do an owner occupant purchase with a low down payment FHA loan, and get your tenants to pay down the mortgage for you. If you buy right you will cash flow, and can shovel that money into your next purchase. I believe @Brandon Turner illustrated this technique in one of his books, and others on the site have elaborated on it in blogs.

@Jeremy Beland what is the address? I might be interested.

@Jason Woodson Just sent you my analysis. Our rehab number is generous since we prefer to do a lot of up front preventative work. Also we planned on updating the kitchens and bath to attract higher quality tenants and get the rents up to market.

We ended up getting a three family in Claremont under contract, closing just got postponed because the current landlord is evicting a tenant. We hope to close by the end of November, but we'll see what happens. Its in a good neighborhood, and our best friends live across the street. The price was right and the condition was great. It made a lot of sense for us.

@Jason Woodson I have looked at that house twice. We were dissuaded by seeing daylight through the foundation and the roof. I suspect it needs roughly 20K in rehab to start, less I guess if you have friends who can help. I looked back at my analysis and see roughly 1400 in expense without mortgage. Biggest is $491 in taxes per month. That is why we have not moved on it. We found a deal that needed less work and had higher cash flow. On the positive side that location is killer, walk to school and shopping, so I think it will bring in around 1100 per month per unit after fix up. Another expense you may want to factor in is management. We factor in 10% even though my wife is the manager at the moment. Also that contractor you asked me about didn't want me to give out his info because he is swamped. I'll let you know if he changes his mind.

Hey Hannah,

   A friend of mine is an amazing contractor in the area. We hire him for all our projects now. I'll check with him to see if he minds give out references online. I suspect he would be happy to give you a quote and work on your project. Do you mind my asking what property you locked up?

Brad

Welcome to BP @Matt Burt! Glad you were successful on your first attempt. How is the market up north? We are investing between keene and claremont, with a couple fix and flips under our belt and some buy and holds. Things still feel a bit slow, we ended up holding our last flip in claremont for 10 month(still making a profit, but learned that value of price reductions). How fast are things moving up north?