All Forum Posts by: Christopher Lynch

This is a great idea. Many of my clients have used first time home buyer loans to buy their first income property. House hacking is an excellent way to get your portfolio started. 

I myself have used this same strategy to buy my first Duplex. I started with a FHA loan 3.5% down and then refinanced into a conventional loan once I had enough equity in the property. The main reason you should consider refinancing is to get rid of PMI which is an expense you do not want to carry long term.

With that being said, if you find a great property and it cashflow's even with PMI I would say it is worth making the purchase. The great thing about that is you will also have left over capital if you find another great deal you want to invest in or even if you just want to make updates and add value to your first property.

If you have any questions feel free to message me. Buying your first property is always a lot of fun.   

@Heath C Davis I just looked into Rye, do you know if they are being booked in the winter months also?

That is not good. I was doing some real research on the North Conway area. It looks like a good spot. That is disappointing. What areas are worth looking into in your opinion?

@Dan Weber What areas are worth looking into?

@Jeremy Nault I do not have any specific areas yet. I just started doing research. What areas should I look into?

Hi All, I am in the process of doing some due diligence on New Hampshire as a Potential Air BNB investment location. NH has some great ski resorts and I am within driving range of all of NH making it a real possibility to build a team there in person.

With that being said, is anyone here having success with NH Air BNB Rentals? I would love to connect with some local agents in NH that know that market and can guide me toward some towns that might be worth looking into.

I would also consider Maine, and Vermont.  

@Marc Amedee Congratulations on your first purchase. I like the EP area a lot. My hometown. For a plumber I would recommend Matt. He has always given me fair prices on my property. 401-258-5069

For my driveway I currently use 401-965-7446. They have been great on price. You would just have to call and check if they will come out to East Providence.  

Thank you!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Large Townhouse style duplex.

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

Cashflow

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

Off market.

How did you finance this deal?

FHA

How did you add value to the deal?

Fixed foundation

What was the outcome?

Great deal.

Lessons learned? Challenges?

Hire great contractors.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself- I am a Realtor.

Hi All, I hope all is well. I currently have a duplex with a detached 2 car garage that is not being used. I recently started to look into if it is worth trying to rent the space for motorcycle winter storage for $75-$100 a month per motorcycle. I should be able to fit 5-7 bikes in there. It is a large 2 car garage.

Is there anything I should know or be aware of before trying to do this? Or, should I avoid it all together.