All Forum Posts by: Patrick McCann

Hi Mike, Habve you made any investments here yet in NH? or are you planning to?

Hi Nick, have you checked the property record card with county/city to see what they actually have the property recorded as? Agents do make mistakes on listings and owner disclosures aren’t exactly always accurate either.

Quote from @Zack Reyes:

Quote from @Patrick McCann:

Hi Zack

If You're in Long Island I'd suggest you look up Matt Porcaro @the203kway, he has greta info and resources for househacking and 203k renovation loans. He also is from Long Island.

I'm a union ironworker the same age out of the boston local by the way. I househack a duplex in NH

 Hey Patrick! thanks for replying and thanks for that contact, I'll definitely reach out to him! Was the duplex your first investment?

 First investment and first real estate I’ve ever purchased.

Hi Zack

If You're in Long Island I'd suggest you look up Matt Porcaro @the203kway, he has greta info and resources for househacking and 203k renovation loans. He also is from Long Island.

I'm a union ironworker the same age out of the boston local by the way. I househack a duplex in NH

Hi Tom, 

I househack here in NH. Yes NH is kind of at the higher end of price points, but I think it is a great place to invest. Less than 1% vacancy throughout the state, great appreciation, rent growth, landlord friendly for the most part. I'd be happy to chat and answer any questions you may have

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.