All Forum Posts by: Patrick McCann
Patrick McCann has started 5 posts and replied 99 times.
Post: New Post - Anyone in New England?
- Realtor
- New Hampshire
- Posts 100
- Votes 51
Hi Ricardo,
I live and invest in New Hampshire, currently only have done long term though. I am a licensed realtor in NH and just passed the Maine exam so will be there soon too. Interestingly growing up my family mostly vacationed in Puerto Rico as my grand parents were living at the their home in Vieques for a majority of the year, in my young childhood they owned a hotel in Lincoln, NH one of the most popular mountain destinations in New England. I do know the Conway area has some restrictions, you can message me if you'd like.
Post: Hello BiggerPockets! New PRO here
- Realtor
- New Hampshire
- Posts 100
- Votes 51
welcome Calvin, I’m right over in Dover! I head over to the beach quite often. New Hampshire investing is my primary focus. Did you know there is a monthly real estate investing meetup in Dover?
Post: Security Deposit- New Hampshire
- Realtor
- New Hampshire
- Posts 100
- Votes 51
Quote from @Daniel Banks:
My wife and I purchased a multifamily that we renovated and are about to rent out to our first medium-term renters. Taking a look at the laws around security deposits in NH I'm a little confused about the wordage. We have a separate account for rent but it sounds like security deposits need to be a different account? Vacation rentals don't fall under this law but what about medium term rentals? If there's anyone out there from NH that could help I would appreciate it!
I don’t know exactly where medium terms fall as far as the security deposit laws go, but it’s easy enough to open a separate savings account to hold it in to be safe. Being more than 30 day stays it’s likely the same rules apply as long term rentals.
Post: Connect with local active flippers
- Realtor
- New Hampshire
- Posts 100
- Votes 51
Quote from @Cole Merritt:
I'm local to Southern Maine and looking to connect with active flippers in Manchester and the surrounding areas.
I’m based just across the southern Maine border in Dover, NH and I am an agent. No flips yet, but do intend to as I have a background in construction prior to becoming licensed. I have rehabbed a duplex in Dover as sort of a househack BRRR type investment. There are several local meetups in both the seacoast and Manchester area that could be good place to connect with local players. Feel free to message me if you’d like information on meetups or introductions to some local flippers.
Post: New Investor Here!
- Realtor
- New Hampshire
- Posts 100
- Votes 51
Hi Matt, I’m also a licensed agent in NH. I live and invest in Dover!
Post: Finding multifamily listings in New Hampshire
- Realtor
- New Hampshire
- Posts 100
- Votes 51
Quote from @Moe Collins:
Thank you Patrick. I am very new to real estate and feel that any sort of multifamily real estate would be a great way to start. Whether that be a duplex or more. But like I've heard Brandon Turner mention before in his books, 1 loan for multiple doors is easier than a loan per door. I'm not sure of your experience, but do you feel there are better/more available opportunities out there in New Hamphshire in a different type of real estate? It seems like single family homes prices are out of control. I also don't have any relationships with brokers yet. I can only assume that a lot of deals don't tend to make it to the MLS? Either way, I appreciate your feedback and will keep building experience.
In more populated areas of the state single families do not make sense to rent, it's likely you can find duplexes for similar prices as a single family that will rent for more. 2-4 units will make it on the MLS, but NH is has had a low inventory of listings across the board for awhile now which could be why you're not seeing many listings.
I’m a Realtor in the seacoast area and 2-4 unit is what I pay a lot of attention to as it’s also what I like to buy.
Post: Finding multifamily listings in New Hampshire
- Realtor
- New Hampshire
- Posts 100
- Votes 51
Quote from @Moe Collins:
I am new to real estate and seem to be having trouble finding listings for multifamily investing. I am located in the state of NH. When I look in Loopnet, Crexi, and Zillow. Are there better places to search?
commercial brokers is how you will find the commercial multifamily. A suggestion would be listening to The Multifamily Wealth podcast hosted by Axel Ragnarson (I may have spelt that wrong) he has been successful in buying multifamily direct from sellers.
Post: Looking Out of State
- Realtor
- New Hampshire
- Posts 100
- Votes 51
Curious as to why out out state rather than say the Lewiston-Auburn area?
Post: I did it! Bought my first multi!
- Realtor
- New Hampshire
- Posts 100
- Votes 51
Congratulations David! I invest and live in Dover, it’s a great market!
Post: House Hacker Introduction!
- Realtor
- New Hampshire
- Posts 100
- Votes 51
Quote from @Meghan Carson:
Excited to have you here. House hacking is a great start in building your portfolio.
I have family in the Boston area and they vacation near Dover, a beautiful city.
I look forward to hearing more on your success.