All Forum Posts by: Patrick McCann

Someone once on the rookie podcast from Maine has all and with sone tree houses they rent. I believe it’s branded In The Trees Maine. I follow them on Instagram, maybe could try reaching out to them.

Most northern New England tourist areas pretty much shut down in the spring for mud season once every thing thaws. Summer theres hiking, biking, watersports etc. fall alot of the same things as summer plus hunting and leaves. winter skiing. Spring not much to do plus alot of places close to take a break

Quote from @Jonathan R McLaughlin:

@Angie Briggs if you’re north of Boston I don’t know why you wouldn’t be looking in New Hampshire instead of far flung locales? Most of the seacoast is expensive but get away from there and solid towns with good numbers. Low unemployment and almost zero vacancy. 
I think MA gets a bad rap as “tenant friendly”—most of the refs are simply about fair treatment, but in any case NH has a more “landlord friendly” reputation.

 As a lifelong NH resident I like how under the radar and not talked about the market is. Cost are a bit higher than the national average but the rent prices and market are strong. Pretty competitive among the local investors though.

Summer time I know Killington is popular for mountain biking, I personally haven't rode there yet. I have been to Kingdom Trails in Burke/St. Johnsbury and it is like mountain bike disney world, license plates from all over the US and Canada.

Quote from @Richard Qiao:

So I'm currently living in Massachusetts, considering a multi-unit house hacking opportunity in New Hampshire. The lender agent denied the FHA loan application, because my current residence is much more expensive than the house I'm going to buy. Is this reasonable? How should I proceed with house hacking opportunities?

I do not know if that’s actually a technical reason for the lender to disqualify you from using an FHA, maybe someone else will know. Good news is though, you don’t have to use an FHA. Very soon there is a new Fannie Mae/Freddie Mac loan product coming out for 5% down conventional loans on 2-4 unit properties and rental income can be included towards your income. I believe it launches next Monday 11/6. Maybe some lenders will chime in that know more than I do or a google search could give more info. You would think a good lender would mention other loan products to you that could work especially considering the number of mortgage applications are down and lenders don’t get paid by not closing loans. 

I've always heard it's good to talk multiple lender. I've also heard that different lenders can have different interpretations on the FHA guidelines or have their own guidelines beyond the FHA ones.

Quote from @Aaron Bard:

@Alecia Loveless

Haha believe me, I'm on Zillow CONSTANTLY it's probably unhealthy.

My biggest issue with finding off market deals...is that I don't know where to go to find them.

Any suggestions?

Thanks for the reply!

 A simple way you could find off market properties is you could go and drive through those towns or look on google maps for the properties that look like multifamilies. Then you could look at the property record cards on the town/county website for more info on the properties and the owners information. Then find the owners mailing address/phone number and call them or send them a letter to see if they’d be interested in selling. Tell them you’re a young local guy looking for a multifamily property in that area. 

was this an inherited tenant?

Quote from @Michael Baum:

Quote from @Patrick McCann:

Quote from @Michael Baum:

I think it would be fun but I no longer have the ability to be as involved as running a small hotel.

We came close to buying a 24 room BnB in New Hampshire a long time ago. Had a restaurant and a small bar. Very cool place but decided to stay put rather than roll the dice.

No longer in the cards for us.

 Where in New Hampshire?

North Conway baby!

It's the Cranmore Inn. https://www.cranmoreinn.com/

 My grandparents owned the kanc motor inn in Lincoln till I was about 6, really wish they hadn’t sold it or that my dad or uncles would’ve had any interest in real estate and buying it. 

Anyways, far out goal for me but I’d really like to get a property at some point whether it be one with many bedrooms or multi unit probably in the Bethel, Maine area that would provide a more affordable place for people like myself to stay that are passionate about skiing/boarding/mountain biking to stay that work regular jobs where either they have to work a ton of over time to afford a weekend away at the mountain and have no time to actually do it, or have the time but not the money. There’s still properties in the sunday river area that aren’t all that expensive just not in the immediate area of the mountain

Quote from @Michael Baum:

I think it would be fun but I no longer have the ability to be as involved as running a small hotel.

We came close to buying a 24 room BnB in New Hampshire a long time ago. Had a restaurant and a small bar. Very cool place but decided to stay put rather than roll the dice.

No longer in the cards for us.

 Where in New Hampshire?

Hi Matthew, 

I am a Boston union ironworker. Unfortunately not the person to be your mentor. I'd eventually like to pursue off market leads as well, but as you're probably familiar with between the job and rehabbing the duplex I currently own myself the time isn't there. Good luck in finding leads and feel free to reach out anytime!