All Forum Posts by: Jennifer Riccardi

@Danielle Ratto, I just lost a triplex in Dover because the rents weren't high enough for the bank. Very sad! But I'm curious, how are your tenants in Somersworth. Are you able to find honest renters? Do you run credit checks, etc? Thanks for any feedback!

Welcome, David! You are smart to be able to do an expensive part of rehab yourself! I'm right in Eliot and have been trying to buy since winter. I did build a spec home in York. As you know, this area has little inventory and is very expensive but I'm convinced I'll find "the one". Good luck!

@Scott Bennett, chances are the insurance company will never know but why not update it for safety and resale and peace of mind? Have you gotten an estimate to change it over?

Just out of curiosity, what are you charging for rents in Concord? Thank you!

Hi @Al Bigonia, that's great! Thank you. It's too short notice for me by I will look up Jay and try to follow. I hope you are doing well in this market. Thanks again!

A couple more things to be aware of with the 203k in 2016: you have 90 days to complete the work but must move in with in thirty days. Also, I am probably going to lose my loan weeks before closing because the rents have to be high enough to satisfy the lender. I am buying a three unit and will live in one. Therefore they only take two rents into account. The owner had kept the rents low and now I will not qualify. You MUST use a lender who has done a lot of these loans. My lender should have known this from day one and saved me 4 months of work and $1650 in inspection and appraisal fees. 

Hi, I've been trying to house hack a three unit in Dover, NH, and it has been quite the learning experience! are there any good real estate investors groups on the Seacoast? Thanks!

Thanks, Paula! Beautiful. Still not sure how it would hold up in rental kitchen. But with plenty of poly and fewer seams, it should! Good luck!!!

@Paula M.

Hi Paula,

Your plywood floor sounds awesome and I have see many pics online now that you started a trend:). It has been 3 years. How did your floor hold up? How does it handle water/spills? Did you use nails or glue or both? Thank you!

Check into Cork Flooring. It can look like wood and has absorbent qualities but I am unsure of cost/durability. I'd be cusious to hear what you decide!

Hi Chris,

Congratulations! A local lawyer recommended cash for keys. I have asked the realtors to request the owner ask the tenant if he would like to be let out of his lease - you never know! But he has no furniture so, if that doesn't work, I'll have to ask the tenant upstairs on a month to month lease to leave. Then I hope the guy downstairs with no furniture will move upstairs. I could just give him a couple hundred off his rent for his trouble. Thank you for sharing!