All Forum Posts by: Jessica Stevenson

@Nicholas Pelletier depends on how the building is set up, and/or if you want to spend the money to separate out the utilities if it is not already done for you.  Water/Sewer will be your responsibility as a landlord, as you'll only receive one bill for the entire building.  If your electric is metered separately, you also might see an extra house meter, which would charge you for common area electricity, such as shared hallways, basements, exterior lights etc.

@Steve Pizzarella - I'll  echo the fact that there is all great advice here, specifically the house hacking piece that you keep seeing repeat itself :) Not sure where you are in MA, but your dollars could go far in Southern NH if you're willing to make the trek up here.  We have more landlord-friendly laws as well as super low vacancy rate and high demand for rentals.  If this would be on your radar and you have more specific questions, feel free to reach out directly.  Good luck!

Hi @Caitlin Schiffer - we have a couple available, I will send you a message

Hi Rudy, I agree with Matt that a local agent/manager/investor is going to be an invaluable resource when looking for hyperlocal data like neighborhood specific rents

Hi @James Walsh! Congrats on finding BP and making the decision to go this route.

I like the idea of house-hacking a multifamily, unless you can find the right deal on a SF and then rent out some rooms (although consider the proximity to your tenants and shared space when doing this).  For a long-term play, I like the multifamily idea better. There are lots of options in MA/southern NH, and like you said the diversity is definitely huge for such a small geographical area.  There are certainly options in Southern NH that may feel like the middle of the country if you're used to Boston/city congestion :)

In terms of the local market, we are still seeing properties (both multi and SF) move extremely fast. With interest rates being so low, I agree with @Nick Riccio that it is a good time to buy if you're not looking to flip the property.  Sounds like you both have good, stable jobs that will last through whatever economic environment we're shifting into, so now may be a good time to take advantage of those low rates. Plus, if you're willing to take on a property that needs a bit of work, you'll be able to get a decent price as well.

Happy to help with any other questions you might have specific to Southern NH/MA, and wish you the best of luck in your decision!

@Tracy Uscinski  I would look into it to see if it's something you might be interested in! But yes, in the meantime just let them know what @Craig Sloan says 

Hi @Dave G. ! Great place to be reaching out and starting to make connections. Definitely check out the NH REIA events (posted in events tab here, and currently being held virtually). Lots of good information there as well as opportunities to build your team. There's also other meetups scattered around the state that I'm sure will start up again soon. Feel free to reach out with specific questions, I'm in the Southern NH/MA market.. and I would also defer to @Richard Dale-Mesaros for specifics on the market in Northern NH :)

@Maxx Burkholder also, keep in mind unless you specifically requested a lead paint inspection when you wrote your offer, the seller could simply say no if they don't want that information moving forward should you not end up purchasing.  

@Philip Ganz - depends on what you're looking for!  Nashua prices are a bit higher being so close to MA, but so are the rents.  Manchester and Concord are still good for finding deals and value-add projects.  Not a ton of new construction going up in these areas so if you can find something to improve upon you'll be able to command a good rent.   Also, I forgot to mention the benefit of the landlord-friendly laws ;)

Hi @Darian Berry - welcome to BP, you're definitely in the right place. House hacking is a great idea, especially in the areas you've mentioned. @Laura Cardenas did exactly what you're planning to do in that area and is having great success! In terms of networking, check out the NH REIA meetings (posted under Events tab). They'll be virtual probably for a few more months at least, but it's a great place to meet other investors and learn from them. There's a few more great networking meetings too, so keep an eye out for them to pop up once things settle down with COVID. Look forward to eventually meeting you - reach out any time with questions!