All Forum Posts by: Jose LeHardy Jr.

What type of leads 👀

Rakesh, i'm a realtor in Chapel Hill. Durham is next door. I'm happy to connect, learn more about your goals, and how we can help each other. Feel free to shoot me a DM. 

Graham, 

It's hard to say without knowing the specifics. Before providing an estimate, any contractor would physically look at the place to determine what it needs. 

It also depends on the quality of materials used, who's doing the work, and how deep you want to go into the renovation.

Are these going to be class A apts, B, C, D, etc...?

Hello fellow investors 👋🏾

I am hoping to connect with a property manager in the southern NH area.

I have been browsing the site/forums without yielding many results.

Any recommendations would be appreciated.

Thanks 🙏🏾

@Jonathan Giglio “The best time to plant a tree was 20 years ago. The second best time is now.”

I too am in the early stages of my real estate investing career in SNH and purchased my second property amidst this crisis.

Both of my properties were sitting on the MLS and overlooked by others. They met my criteria and when I crunched the numbers, they worked.

That’s the most important factor at the end of the day.

It’s understandably a hot market right now thus making it more challenging, however, that doesn’t mean it’s impossible.

Sometimes you just need to look where others aren’t.

I’ll throw in my 2 cents too, why not lol.

I think a lot of people have made a lot of valid points. As humans, no matter what, we tend to be victims of our own confirmation bias so we are going to side with that which confirms or strengthens our current beliefs.  

A wise man once said something along the likes of “history doesn’t repeat itself but it looks similar.” Inevitably, we are seeing and are going to continue to see some similarities between past events, however, at the same time, the opposite is true.

If we could predict exactly where things are headed, it wouldn’t be such a hot topic. The economy is something like the weather. It’s unpredictable because there are too many variables. The further out we look, the more unpredictable it gets. That’s why I just poke my head outside in the morning. 

”No risk, no reward”. I am just going to continue to do what makes sense to me at the moment and take “calculated risks”. If it benefits me now and I ride the storm, I think i’ll be better off for it at the end. 

@Nicholas Flanders I've certainly analyzed deals in which the numbers work. Other people are out there doing it, so it's not impossible. There are a lot of moving parts though. I'd say the area is one of the biggest factors. Further West and North is where I'm seeing some better numbers. I'm sure Matt can provide some better insight than I can as someone who is in real estate full time. 

I'm in Salem right now where the market is red hot. In my area alone, there has been a lot of construction, increase in population = increase in demand. The demand seems to be higher than the supply = rising prices. My property's estimated value has risen, conservatively, 68% in the last 3 years. 

I could have never estimated that going in. I'm being forced to look for properties elsewhere as much as I would love to continue buying in Salem. 

Hey Nick! I am certainly no expert, however, I have been searching for door 2 for months now and I can second what @Matt Lefebvre stated above. Any decent deals in SNH on Multi's and Single's I hit like on end up under contract within a week or two. 

I recently found this tool from HUD for estimating fair market rents. Thought it was pretty cool:
https://www.huduser.gov/portal/datasets/fmr/fmrs/FY2020_code/select_Geography.odn

I started looking at other property types to see if I yield better results. The DealCheck app has also been amazing for running numbers on the go. A little better than my quick napkin calculations.
 

Thank you. I was actually contemplating whether I should go ahead and setup an LLC before acquiring the next property. I'll hold off on that thought.