All Forum Posts by: Jaylan Archer

Hey Heidi!

I am a real estate agent in Southern Maine and NH and own a STR as well. I definitely recommend the lakes region of NH like you said. The year round activities lend itself to a draw year round and therefore STR are very popular and booked. I do concur with others as far as price point - it might be hard to find something in the lakes region that works right off at $350,000. You will likely be purchasing something that needs some work.

A few other markets to consider would be Hampton, NH for a beach community. A very nice draw here in the summer months with great beaches, the strip, restaurants and a few concert venues. York, Wells, and Ogunquit Maine are also great retreats but also fall under more of a summer draw. 

Would be happy to connect and help you on your search if I can. 

Hey Thomas!

I'm a real estate agent and investor that owns in Southern NH and Maine. 

I am frequently working in Rochester and Somersworth and have found those two markets to be very similar, cash flow markets. 

Happy to connect with you and answer any questions you have on it. Feel free to message me. 

Hey Patrick! 

Congrats on making the decision to jump into real estate investing. You will have a lot of firsts in your new feature, I hope you can take them with excitment. 

I would reiterate what a few others have said. I think your best options for buying something would be a three to four unit. Depending on the market - there are a few towns along the seacoast of NH where a STR can make sense. I have found that they are fairly seasonal with the summer months being where the money for the year is made. Further north you can find a STR that might do better year round.

I would also speak to a lender to learn more about your options. With a little bit of softness in the market this last month - we have been able to get a couple of FHA owner occupant buyers under contract on multi-units. If you are confident that being a property/rental owner is in your future, I would recommend going with a three or four unit. That seems to be where the numbers make more sense and it will also give you a place to live. The property has to be lived in by yourself and can't be more than four units and the minimum down payment is 3.5% for it so you are well on your way to qualifying for a decent purchase price.

Feel free to reach out to me if I can be of any further help. I frequently am working in Strafford and Rockingham counties in NH.

Congrats Scott on putting in some hard work to get to where you currently are. It's good to see some hard work paying off with your savings. 

I would reiterate what a few others have said. Keep working and saving. Finding another job or a better paying job will give you the ability to save more money and advance in your career that much faster - as long as you feel as though you aren't satisfied bringing happiness in the form of one delivery at a time.

I would also speak to a lender to learn more about your options. With a little bit of softness in the market this last month - we have been able to get a couple of FHA owner occupant buyers under contract on multi-units. If you are confident that being a property/rental owner is in your future, I would recommend going with a three or four unit. That seems to be where the numbers make more sense and it will also give you a place to live. The property has to be lived in by yourself and can't be more than four units and the minimum down payment is 3.5% for it so you are well on your way to qualifying for a decent purchase price.

Feel free to reach out to me if I can be of any further help. I frequently am working in Strafford and Rockingham counties in NH. 

I’ve always thought Durhams taxes were high compared to Newmarket and Dover, but the proximity to UNH I’m sure helps with rents.

I would also double check on whether or not you can rent out both units once you do move out. I haven’t worked with Durham on a property with an adu like this before but neighboring towns do require one of the two units to be owner occupied in order to rent it out.

When did someone’s fortune all of a sudden become privilege?

@Erik Baumer

I, as an agent (your buyers agent) would file a complaint to the listing agents managing broker.

I personally have never seen that happen in five years of practice but I’m sure if it is consistently happening with you and your broker, it would be happening to other buyer agents.

@Leon Lee

That’s a good question. I’m not sure I can give an answer that would guarantee it.

All I can say is it’s important to work with a broker that you trust. One with good reviews, experience and maybe even one a friend or family person has recommended.

@Erik Baumer

It seems as though you would actually benefit from getting a buyers agent.

If the listing agent isn’t even getting back to you perhaps a quick, hungry and eager buyers agent would get the property showing scheduled for you.

If your buyers agent isn’t able to get the sellers agent to respond, they could complain to the managing broker and then to the real estate commission and potential penalties or fees could be assessed.

Another option if you feel as though your offer isn’t being presented would be to request that the listing agent send back a signed copy of receipt. This would at least ensure that your offer was presented.

@Karen J. Beatty

Hey Karen!

Welcome to the forums. There’s so many great resources for you to dive into.

I’m a local agent and investor myself and have been able to use this site for real estate meet ups.

Strafford County is very hot right now and some towns are seeing record lows when it comes to available multi units.

Always happy to connect and go over different towns that are experiencing growth.