Hi new member from New Hampshire

[Keith Dalpe]

hello,

I am new here and interested in rental investments. totally new and reading all kinds of information on the subject I have come up with a plan. I have a property that I own free and clear and I have been debating on renting or selling it. Now I am thinking I should sell it and use the money to leverage more than one rental property. The property I own is in Maine and I would like my properties in NH as well to avoid interstate taxes as. Does this sound like I am on the right track?

thanks

keith

[Matt Lefebvre]

Hi @Keith Dalpe, welcome to BiggerPockets!  First off, you're way ahead of the game if you already own a property free and clear.  You have a great way to be able to leverage that either through a sale, or through using it as collateral.  If you're looking to acquire more rentals, it ultimately boils down to the numbers.  If the numbers work out and you can sell the property for enough money to afford the downpayments on a few rental properties in NH, than it might make sense.  It really depends on the numbers you're looking at and how much you can stretch your dollars.  

Depending on the area, property taxes can be higher in NH (as its the state's primary source of income), so be sure to budget for that if you're thinking about investing in the state.  However, it can be a lot easier to work on properties closer to you, especially if you're self-managing.