Starting out in Southern New Hampshire. Any advice?

[Matt Parrino]

I am a 23 project engineer who is relatively new to the area(Dover, NH). I am currently saving up to buy my first property and have been listing to the BP Rookie podcast for some time now. I am looking to learn more about how to find good affordable deals and the overall process. Any advice would be great. I am looking to house hack to start out so small multi family is what I would be looking for. Overall, I am good with project planning and budgeting.  I would love to connect with anyone who is in the area or anyone who I could talk to about real estate in general. 

[Jason Wray]

Matt,

I had some properties up around Dracut/Nashua that we sold a few years back. I also had a few up in North Conway which is a great short term rental location. Dover is a great place to start and I would suggest a 2-4 unit buy it as a primary so you can save on the DP. After a year refinance and jump into another REI and keep the ball rolling.

Mortgage rates are starting to come down so it will trigger a seller's market with multiple Bids/Offers so be prepared. if you can get a head of the game with preferably a "Loan Commitment" letter from a Bank/Lender versus a Pre-approval it can increase your chances on the offer being accepted. Know your rents in advance "market rents" so you can gauge your 75% allowance on the deals.

If you can find a 2-4 unit by the University or by one of the higher rates school it will help you in the future with renting unit.  Dover is rated very high on education and the schools so location can come in handy with Moms & Dads with kids...

I am always open to talk REI if you have any specific questions or need more information. I plan to head up that way next month and drive over to Kittery to look at a place.