NH / VT Hot Spots

[Robert Davis]

Has anyone had good success with multi families in VT or NH? If so, what parts?

[Blair Knowles]

@Robert Davis

It depends a bit on what you want to do in VT. Prices in Burlington are through the roof on Multi Families and those prices are spreading outwards to Winooski. You will pay roughly $125,000 per unit. ($250,000 for a duplex, $499,000 for a quad. Of course prices vary but you can use this as a guide) Prices are high but so are rents. Very high. You can get $600-$700 (Sometimes $800 on the streets where the college kids want to live) per bedroom in Burlington for pretty small rooms and low grade finishes. There is a less than 1% vacancy rate in the Burlington rental market and the tenant class is usually college kids or young professionals. You will never have a hard time finding good tenants in Burlington. (You still have to screen them!) 

@Samantha Hiscock may argue with me (She's one tough cookie! Hi Samantha :) but I have heard several investors express the desire to stay away from Barre because of the tenant class. Your screening process is what I call the "tattoo's to teeth ratio" ( I kid, I kid). 

A lot of investors that I talk to are starting to look in St Albans. If you are thinking Franklin County talk to @Jay Mitiguy. He got, what I think was, the best deal on the MLS in St. Albans last year. 5 units for $209,000.

If you want Waterbury/Stowe/Morrisville @Graham Mink is a great person to chat with.

If you are looking in Addison county @Nathan Hill is a killer deal finder and hustler.

@Reuben Stone is a great property manager in the Barre area if you want to pick his and Samantha's brains. Reuben has said he thinks that the Barre area will make a come back in the next decade. It that turns out to be true then property owners who get in now will do very well. @Samantha Hiscock-- just curious, what can you rent an average 2 bedroom in Barre for? 

 Burlington is not the area to invest for cash on cash return. If you want quality of life, great walking scores, and you want to live in one side of a duplex and have your tenants be of good quality and cheer in the other side then Burlington is great. 

These are just a couple of thoughts off the top of my head. If you have questions about a specific area or deal just give a holler. We aren't a very big state, so if I don't know an area very well chances are I can point you in the right direction of who to talk to. I don't know much about the markets in Southern Vermont. 

As for New Hampshire, @Matt Lefebvre what do you think are the good areas to invest in Multi Families? Any thoughts?