All Forum Posts by: Richard Dale-Mesaros

Paul English at Ace Title in Manchester, Summit Title, too I think. I have investors down in the Keene area if it falls apart.......

I think the technical market term up here in NH is 'f-ing bananas', seriously! Lenders and appraisers have been more than inundated with this massive influx of buyers and Refi's. Unfortunately even if you find the lender an alternative appraiser, they are only allowed to pick from their pre-determined list, as opposed to one you provide for them. Certainly speak to the buyer's lender if you can and try some if the strategies mentioned above, if your P+S allows you to do so...... this is a highly irregular scenario we're seeing, even waaaayyyyyy up in Berlin!!

We have a huge influx of people buying in NH at the moment, obviously mostly short-term COVID-related, however I do feel this will be pretty sustained, now that so many people are questioning city life and have realized it IS possible to work from home, so why not do so in an incredibly beautiful place with hardly any crime and tons of outdoor activities? Internet and cell service can be spotty in our mountains and more rural areas, so always good to check on that early on in the acquisition process. I have three clients who have done well with AirBNB, with annual revenues from $30k-$60k on houses.......

We have a real shortage of both homes for sale and apartments for rent in NH, especially in the towns you mentioned, although Rochester is significantly behind Dover and Portsmouth in terms of perception from buyers. The influx of out-of-state buyers has impacted an already tight inventory situation, it's a little crazy right now and I see this as a pretty long-term thing because this influx will be sustained, not just a short-term COVID thing, now that a lot of people want to be in a more rural setting and have realized they can work successfully from home. I'm working on spec homes for both higher-end mountain homes and contemporary cabins AND affordable modulars, because of the severe shortage of all three!

I heard from a Realtor down there just yesterday that a LOT of people from MA are moving up to that corner of NH, so if you can get any rentals, you should rent them pretty quickly (you could always do a ghost ad on craigslist to see how many calls you get....). I have several cash investors and landlords looking for more units in that area, in case you get something under contract and decide to wholesale it. Three ways you might be able to get into a building without needing to get a mortgage are: Lease option, owner financing and 'subject-to', if you find a seller needing to get out from under a property and they're open to one of these scenarios.......

Make sure you connect with other NH investors, watch the BP podcast and participate in the forums @Mark Bowerman! 👍🏠💰😁

My buddy Bill has 20+ 911's in his rather large garage including a Kremer Turbo he bought for $40k and is currently worth $400k - if you buy the right year/model they can be substantial, appreciating investments.

Hi Koen, I'm up in the White Mountains but have bought and sold all over the state since 2003....... happy to help you out if you like, we can connect on here then via the usual methods. Welcome to your real estate journey - buckle up!!  :)

Any time you're considering STR, keep in mind that you may have to change your business model if condo associations or towns curtail the ability of property owners to do Air BNB, whether it's switching to LTR or selling - does the property you're buying work well for LTR or resale as well? I have four clients who do STR and I'm based in the Western White Mountains/Lakes Region - feel free to reach out! :)

Hello @Syed Zafar, I'm up in the Lakes Region but have bought and sold all over the state - happy to connect and help you out in any way I can.......  :)