All Forum Posts by: Will Stewart

Hi Joe, I have two dogs of my own and had similar concerns when we moved into our most recent house with a detached rental unit in back from our old home, which was set on an acre of land with no one around. The dogs will adapt. 

As for student loans. You have to live somewhere. Living in a unit of a 3 or 4 family is the best way to minimize your housing expense to help you pay those down fast. Get your first deal under your belt then re-asses whether it makes sense to pay them off aggressively or continue investing. 

@Account Closed. I would re-read that a few times. I have a few friends invested in Laconia and from my experience everything he says is spot on. At the end of the day it’s worth a visit to see if it feels like something worth dropping $100k +/- on. That doesn’t even take into account that the boiler may be 100 years old, knob and tube could be present, etc. 

@Evan Hutchins I own a couple parks in Maine and New Hampshire and would be happy to talk and help you through the due diligence. Cant say yet whether it’s a good deal or not from your information, it’s all about location and condition. Feel free to DM me I’d be happy to help out however I can. 

can help you with oil— join central Maine apartment owners association and sign up with Fabian. I’ve been told by several retail oil companies that they don’t even buy at the price that I do. Sorry can’t help with the others, my properties are a bit north of you. 

That looks like a prepayment penalty to me, not points. Seem like pretty standard terms all around. 

@Boyd Evans yes USDA is an owner occupied loan, you have to intend to stay in the property for a year.

@Boyd Evans I second the USDA loan. If it's in Durham i believe it will qualify. Happy to help with comps. 

@Nick Gray sent you a DM

Hi Nicholas,

I'm a fellow engineer (ME) and have owned a multi in Exeter for several years now. Great town, great schools, and you can get a premium rent if you put work into a nice property. Your best option, rather than moving, may well be to stay in the multi long term -- cash piles up quickly when the majority of your housing expenses are covered by tenants. I've had some luck with direct marketing because, as you say, most properties will not cash-flow if you're buying them of the MLS.

Keep posting on your progress, feel free to run any deals you see by me.

Best,

Will

Hi Jon Doesn't sound like there's any reason to sell the North Shore multi, assuming it's in a good location and will continue to be a cash cow. I'd look into a HELOC for your primary as an option, or outright sale. All depends on your families desires for the future. My wife and I have debated the same thing over and over. Shoot me a message, we can set up a time to talk or grab a coffee if you'd like. I'm an investor and agent in the Salem area, but work in Nashua. Talk soon, Will