Introduction - NH Investor, Military Spouse, House Hacking

Introduction - NH Investor, Military Spouse, House Hacking

Real Estate Agent · Laconia, NH · Member since 2019 · 58 posts · 40 votes

Hey everyone,

My post about looking for investors for a deal in FL got taken down yesterday because apparently I'm supposed to talk about me and not my "company", and it made me realize I've never done a proper introduction.

I've been on BP for almost 3 years now. Like most people I read Rich Dad, Poor Dad in 2019 and that did it for me. I was unemployed at the time with an engineering degree and knew that I didn't want to go back to working for another corporation. I moved from Rhode Island to West Virginia where my now-husband was stationed, then to North Carolina, and finally to New Hampshire where we currently live. We started house hacking a SFH with an in-law apartment in February 2020 because we were unable to find a multi that would meet VA requirements at the time.

Rather than re-entering corporate America, I got my real estate license mainly to help pay for additional investment properties and to be able to help out other investors as an agent. We bought our second house hack (single family with an ADU) in September 2021 where we currently live and rented out our previous home. Once our tenant moves out of the ADU I want to try AirBnBing it because we live in a vacation destination and could make way more money doing that vs LTR.

Although we have 2 properties now I can't help but feel like we're not as far along as we could be. We have some major expenses this year including a new roof and repaving the driveway so we probably won't be able to buy another investment property until next year, unless we hit the lottery before then. I think this will be our last house hack and our next investment will most likely be a multifamily, so we'll need much more for a down payment. I'm not opposed to partnering on a deal if I find the right one, and I can use my agent commission towards the closing costs since we don't really have any capital on-hand at the moment.

I still need to sit down and figure out exactly how many doors we'll need to be reach financial independence, but my personal goal is to have the ability to retire in 10 years with our investments and my husband's military pension.

That's all I have to say about that!

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Mitch HartfordPro Member
Investor · Rochester, NH · Member since 2017 · 31 posts · 14 votes
4y

Welcome! It all starts with a dream. Working backwards from there should tell you how many doors or how much income you need. Personally, I don't have a “doors” goal. My goals are based on income. 

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  • Mitch HartfordPro Member
    Investor · Rochester, NH · Member since 2017 · 31 posts · 14 votes
    4y

    Welcome! It all starts with a dream. Working backwards from there should tell you how many doors or how much income you need. Personally, I don't have a “doors” goal. My goals are based on income. 

  • Rental Property Investor · Gilford, NH · Member since 2019 · 50 posts · 20 votes
    4y

    Hi Joia - I'd say welcome, but it looks like you've been here as long as me.  Great to see another investor in my neighborhood (I'm in Gilford/Laconia area).

    Good idea getting your Real Estate license (though it's a tough business right now) - there is so much synergy that can happen when you are the agent buying (or selling) an investment property. Using your commission as a bargaining chip is just one great example. Also, that should qualify you as a Real Estate Professional which comes along with some special tax benefits for investors.

    My wife is also a Real Estate agent, and it helped us secure 4 deals in 2021 (2 off market). We are always open to creative ideas, creative financing, and partnering. We should connect IRL some time - it's always fun to chat about this stuff with like-minded people.

    As for figuring out FI numbers, that is actually harder than it should be. When we bought our first property in 2013, we naively thought we would need about 10 doors to be able to retire. Well, we've got more than that now, but we aren't FI yet. Sometimes it feels like the goal-posts keep moving on us (inflation!).

    Best of luck on your journey!

  • Rental Property Investor · Upper Valley and beyond, Vermont and New Hampshire · Member since 2017 · 10 posts · 2 votes
    4y
    Hi, Joia---   Just wanted to say it's a pleasure and an inspiration to read your introduction. I appreciate your clarity, humility and determination. I live in Vermont in the VT/NH border, and intend to buy on both sides of the river, but so far have purchased multis in VT only. Wishing you and your husband all the best in fortune,
    Bill
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