All Forum Posts by: Jim Ehlinger

Thanks @Matt Lefebvre I have realized that the 2% rule is a mirage in NH, unless you can really find a good deal as a foreclosure/ pre-foreclosure and or a major rehab and you are really looking for putting a lot of rehab into something and then holding it as a rental, you might make it 2% if every star aligns... lol.   So it is mostly trying to find something that will make the numbers right and will cash flow.

HI @Matt Lefebvre,

I have looked and analyzed almost every property in Nashua, Manchester, Salem, and anything I can find in southern NH and while a lot will cash flow, many are priced too high to create a strong cash flow. Many are barely meeting the 1% rule, never mind a 2% rule when you factor in all of the taxes, utility expenses, maintenance, and cap expenses, etc.  

The prices (overall all and $ per square foot) in Laconia are a little lower, a few of them are cash flowing better in my analysis.  Also, I own a boat on Lake Winni, and if I find a triplex or quad, I am thinking that if I can cash flow with one of the units empty, then I can use that unit as a weekend place to be able to go up and spend the weekend where I don't have to drive 1 1/2 hours each way to enjoy the lake.  

I am  not against Manchester or Nashua at all, so if the right one came up, and the numbers were right for what I need, then I would consider it.

 Thanks... It helps to get these kinds of questions so I can think about things.

I have a question for you @Derreck Wells, 

I am aware of the lead paint law for Mass as I was told about it by Enterprise Bank when I was talking with them about the lead paint, but do you know if that is a requirement for NH? Do you see any information about financing requirements for lead paint in NH versus MA?

Thank you @Shaun Reilly.... I don't use Twitter and while I am on Facebook, I am not real active on it.  Thanks for the tip.  Especially in that I can only do it if it is in the thread or colleague part.  Nice to know... another new thing to learn today.   

Thanks everyone for your replies...  I am definitely looking forward to getting more involved.  

Ok... I have a question for Derreck, I am aware of the lead paint law for Mass as I was told about it by Enterprise Bank when I was talking with them about the lead paint, but do you know if that is a requirement for NH? Do you see any information about financing requirements for lead paint in NH versus MA?

Matt, I am initially looking at 2, 3, and 4 units as they seem to cash flow in NH much better, Duplexes are tough to cash flow unless you can find a great deal, so right now, I think I am focusing on my first to be a tri or 4-plex.  I am looking at a few places up in the lakes region this weekend hopefully if my realtor can get the showings set up.

How do you link a person's profile into a post to respond to??, I see it all over, but can't find out how?

Thanks

I found Bigger Pockets a few months ago after deciding I wanted to take control of my future and realizing that I had still had the real estate bug.  I have had the bug for a long time but never really took any action... until now.  20 years ago I took an entrepreneurial class in college and our primary project was putting together a full business plan for the final grade I did mine as for a buy and hold real estate company.  So even then, I knew what I wanted to do.  

Flash forward 20 years, and here I sit, ready to finally take control of my future. I have become addicted to the Bigger Pockets site. I am listening to all the current podcasts, and trying to get caught up on all the past ones... (catching up on over 160 takes a lot of time... lol ).  I have read a lot of posts, the blogs, and gone into some of the forums. I have followed the links to a lot of my keyword alerts in looking at the questions, the responses, and then all the referral links to other articles and and while I became  

But alas, I have but merely scratched the surface of what this site offers.  I upgraded to Pro a few months ago so I could use the extra tools and those have been great so far.  I am glad I spent the money to upgrade as it is definitely worth while.  

My first actual foray into buying strictly rental properties (bought 3 homes already) starts this weekend where I will be going to look at 5 different properties...maybe one of them will be the first.... 

Thanks for reading and I look forward to continuing to learn the site and grow my knowledge of the REI world.