All Forum Posts by: Jaylan Archer

Hey Benjamin!

You sure have been busy. :) I'm a father of two, real estate agent and investor myself and am thankful for all of it. One benefit you will eventually have is six kids will hopefully turn into six helpers at some point. 

Congrats on the desire to start investing. I would see if there are any investor meet ups in your area and try to figure out what your why is. Are you looking for cash flowing properties or thinking of investing into flips?

Hey James!

Happy to connect and some great questions here.

As far as local real estate market - some of the biggest things to look for are how much are units trading for, what are rents for one, two, three, and four bedroom units. I would also try to get a better idea of specific towns, the draws to them in regards to employers and recreational activities and then get more granular on the details.

For FHA loans if you are going to be owner occupying you can purchase up to a four unit with as little down as 3.5%. Most of the owner occupant buyers employ an FHA loan for exactly that reason. If done right, you should definitely be able to find a property where you "live for free" after factoring in your tenant's payments.

That's how long term goals start! Just having an idea of where you are hoping to be can be very helpful. I always encourage a buyer to focus more so on cash flow on their first purchase. That will set you up for future purchases no matter if you decide to only ever have one rental.

Hey Ronald!

I would also consider some of the surrounding towns too.

Invetervale, Bartlett, Jackson, Albany, Madison and Eaton.

A few of these towns including Conway have had differing restrictions on STR's so I would also connect with an agent or do a little bit more research at the town level to try and understand what options you have.

The area is great though for a true year round appeal. It's incredible the downtown of Conway and what has popped up there over the years.

Hey James!

Congrats on starting to make the steps to start your investing journey. Where in NH or Mass are you considering?

House hacking a four-unit property can be a smart financial move that can help you reduce your living expenses and generate rental income. Here are some best practices to consider when house hacking a four-unit property:

1. Know your local real estate market: Research the local real estate market to understand the rental rates and property values in the area. This will help you determine the potential rental income and potential return on investment.
2. Determine your financing options: Talk to a mortgage lender or financial advisor to explore your financing options for purchasing the four-unit property. You may be able to qualify for a conventional mortgage, an FHA loan, or other financing options. I would recommend staying with four or less units like a few others have mentioned.
3.  You may want to consider hiring a property manager to help with these tasks. I'm happy to make some recommendations for this.
4. Plan for the long-term: House hacking a four-unit property can be a long-term investment, so plan accordingly. Consider your long-term goals and how the property fits into your overall financial plan.

Happy to connect if you'd like.

Hey Eric!

I can't speak to a short term rental in these areas but I do have a few specific areas worth mentioning.

New England is a popular destination for skiing. Some of the best ski areas in New England include:

1. Sunday River in Maine: Sunday River is a large ski area with 870 acres of skiable terrain and 135 trails. It has a reputation for great snow conditions and a wide variety of runs for all abilities.
2. Sugarloaf in Maine: Sugarloaf is the largest ski area in the East, with 1,240 acres of skiable terrain and 162 trails. It's known for its challenging terrain and steep runs.
3. Stowe Mountain Resort in Vermont: Stowe is a classic New England ski area with a charming village at its base. It offers a mix of beginner, intermediate, and advanced terrain and has a reputation for excellent snow conditions.
4. Loon Mountain Resort in New Hampshire: Loon is a family-friendly ski area with 61 trails and 11 lifts. It's known for its well-groomed runs and beginner-friendly terrain.
5. Bretton Woods in New Hampshire: Bretton Woods is a scenic ski area with great views of Mount Washington. It has 102 trails and 10 lifts and offers skiing and snowboarding for all levels.
6. Jay Peak Resort in Vermont: Jay Peak is a popular ski area for advanced skiers and snowboarders, with a reputation for deep powder and challenging terrain.

These are just a few of the many great ski areas in New England. Each ski area has its own unique charm and character, so it's worth exploring different options to find the one that suits what you are looking for.

A few of these are also better than others in regards to a year round draw. Hopefully it at least gives you an idea of a few places to start exploring.

Hey Tricia! 

I believe you can do a statewide background check through most rental softwares. If the potential tenant has ever lived outside of that county it might be best to do the background check by state. 

Hey Kris,

Great post and question. It surprisingly has become fairly common to see in the real estate market from the last few months. It gives the seller the ability to release the debt from the property and gain the equity they had in cash to use for their next home. 

A few questions I typically ask in preparation of writing an offer with a seller leaseback would be:

Does the seller have another property they have targeted or are they starting their search.

How long are they expecting to rent the property for.

What are they expecting to pay in regards to rent and utilities as well as prorations for fuel.

Definitely consult with your real estate agent further to go over recommendations to make your offer strong but also cover your bases. Like others have said a good deposit and lease would be important to have.

Hey Bridget!

A lot of great answers and insight already here.

Another thing that I do as an agent that is look at past sold rental properties and there rental rates. 

I can quickly learn what a two bedroom is renting for, or at least get a good idea of the lower end of the rental market by looking at rental rates for two bedroom units that have sold in the last year. 

An agent can pull this information and share it with you for any towns that you are interested in. 

Hey Dan! 

I agree with what Eliott posted above. You aren't going to be able to find much market specific information or data for a smaller market like New Hampshire on the forums. Your best bet is to reach out to an agent that knows your local market. New Hampshire all though a small state has very different local markets from the mountains to the seacoast to Manchester and Portsmouth. Looking at state data will be helpful but it will be even better getting more hyper focused information than that. Happy to help you get connected with an agent in Manchester if that is your goal market.

Here is a resource as well as far as information about the NH market. NH has one of the largest housing shortages across the US right now. 

https://www.nh.gov/osi/data-ce...

Hey Dan! 

Congrats on taking the step of getting yourself out there and in front of other investors. The podcast and forums here are a tremendous resource to be able to lean on when you are first starting. Hopefully you have a good foundation from your time spent listening and here and are ready to take some action. 

I would recommend getting out face to face with some local real estate investor meet ups as well as start reaching out to some investor friendly lenders and agents. The other thing that is helpful is to keep watching your market and familiarize yourself with buy and holds and potential flips that have come up for sale. The more you know about your own market the better!