New to BP-Living in Manchester, NH

New to BP-Living in Manchester, NH

Member since 2019 · 12 posts · 6 votes

Hello Bigger Pockets community, I hope everyone is doing well and preparing for an excellent holiday! I am a salesperson living in Manchester, NH and I have the opportunity to help some of the fastest-growing companies in the Greater Boston area optimize their talent acquisition strategy. Today, I do not have any investment properties and I plan on changing that. My real estate investing "why" is to obtain valuable and quality Time. My motivation is to be present and spend more quality time with my fiance, loved ones/family (our three dogs included), and friends. After a year of listening to podcasts, reading books, and building relationships with my direct network, I have finally decided to post on the BP forums for the opportunity to network with some rockstar individuals with similar goals and motivations. 

My plan is to purchase a 2-4 unit property in either Manchester, NH or Nashua, NH and follow the BRRRR strategy guidelines using either hard money or private money to help fund the down payment (or the full purchase price depending on the state of decay). While Massachusetts is an expensive market, the border cities in New Hampshire seem to offer comparable rents but with lower purchase prices (based on the deals I have analyzed thus far). Admittedly, I am currently living in an SFR and paying the full mortgage every month. This was not the best decision and now it is our largest liability. I am willing to learn from my mistakes, willing to get creative, excited to network, and provide value to others throughout my real estate investing journey. Thank you, and I look forward to connecting!

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Rental Property Investor · Greater Boston Area · Member since 2018 · 258 posts · 105 votes
6y

Great to meet you, Joe. I lived in Nashua for 22 years and now I've been in Derry for a few years. I invest in Nashua, Manchester, Concord, and other parts of NH and the United States. Actually, looking at a property to BRRRR in Manchester right now. Happy to connect and talk real estate!

Robert Leonard

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  • Rental Property Investor · Greater Boston Area · Member since 2018 · 258 posts · 105 votes
    6y

    Great to meet you, Joe. I lived in Nashua for 22 years and now I've been in Derry for a few years. I invest in Nashua, Manchester, Concord, and other parts of NH and the United States. Actually, looking at a property to BRRRR in Manchester right now. Happy to connect and talk real estate!

    Robert Leonard

  • Member since 2019 · 12 posts · 6 votes
    6y

    @Robert Leonard

    Hey Robert, great to meet you as well. I just listened to your Millennial Investing podcast episode with Scott Trench. Great episode with a ton of excellent information. I read Set For Life less than a month ago and it was incredibly impactful. Derry is a great place and Pinkerton Academy remains one of the best schools in the area.

    I'm happy to hear that you have experience with Nashua, Manchester, and Concord. I hope you find a great BRRRR property in Manchester! The north end multi families and even some SFRs on Union Street can provide great opportunities. I'd love to connect and talk real estate!

  • Lender · Charlotte, NC · Member since 2019 · 59 posts · 60 votes
    6y

    Welcome to BP Joe.

  • Rental Property Investor · Greater Boston Area · Member since 2018 · 258 posts · 105 votes
    6y
    Originally posted by @Joe Cote:

    @Robert Leonard

    Hey Robert, great to meet you as well. I just listened to your Millennial Investing podcast episode with Scott Trench. Great episode with a ton of excellent information. I read Set For Life less than a month ago and it was incredibly impactful. Derry is a great place and Pinkerton Academy remains one of the best schools in the area.

    I'm happy to hear that you have experience with Nashua, Manchester, and Concord. I hope you find a great BRRRR property in Manchester! The north end multi families and even some SFRs on Union Street can provide great opportunities. I'd love to connect and talk real estate!

    Thank you, Joe. I really appreciate that! Shoot me a direct message and we can chat more.

    Robert Leonard

  • Member since 2019 · 12 posts · 6 votes
    6y

    @Jonathan Killam Thank you Jonathan!

  • Developer · Windham, NH · Member since 2011 · 205 posts · 64 votes
    6y

    HI @Joe Cote

    welcome to the site, BP has a tremendous amount of information to help you

    I'm a local investor in the New Hampshire and i would be more then happy to help you out with any questions you have

    we have 2 network meeting at Nashua on the 3rd Wed of the month and at Derry the last monday of the month it great place to meet with others real estate investor and we have numbers of deals done after people meet in our group, you can find more at Real Estate Events and Happenings Look forward to seeing you around! PM me if I can help

    Wish you all the best!

    Gal

  • Real Estate Broker · Manchester, NH · Member since 2014 · 630 posts · 420 votes
    6y

    Hi @Joe Cote, thanks for posting here on BiggerPockets! Great to see you taking steps on your real estate investing journey. Admittedly, its a tough market right now to be getting a solid property to BRRRR. While NH is cheaper than most places in Massachusetts, the prices are still high and finding the right deal can be tough. Make sure that when you're running your numbers, you're being conservative on the ARV of the properties you're acquiring. Rehab is always going to take longer and be more expensive than you first think, so budget an extra 10% to whatever you think its going to cost and tack on a few extra weeks for each step of the process (relocating current tenants if they're uncooperative, completing renovations, completing the refinance process).

    Best of luck with your first investment and always happy to give my two cents on a property you're looking at if you have questions or need a second set of eyes!

  • Member since 2019 · 12 posts · 6 votes
    6y

    @Gal Peretz Thank you for the warm welcome! I really appreciate you offering to help out with real estate related questions. 

    Thank you for providing information on the networking meetings in Nashua and Derry! I would love to attend one of the meetings to learn more and network with other real estate investors. I look forward to seeing you around as well!


  • Jonathan BombaciBusiness Member
    Real Estate Agent · Lowell, MA · Member since 2019 · 1k+ posts · 1k+ votes
    6y

    Hey Joe welcome to BP the fact that you're here posting in the forums puts you way ahead of 90% of the population. Trust me we all wish we found this community sooner, you may see the SFH as a burden now but your on the right path to offset the expense through investment properties.

    My team and I specialize in helping newbie investors and host a meetup in Lowell the 2nd Thursday of each month. I know there are some great meetups in the Manchester area but we are having a hard money lender come and present at the February meetup. Based on your plans it may be a good one for you to attend. It’s a free event and We expect 30-40 attendees all looking to get their first or 2nd investment property in the area.

    anyways welcome to the site and be sure to enjoy the ride! 

    best,

    Jon

  • Member since 2019 · 12 posts · 6 votes
    6y

    Hi @Matt Lefebvre,

    Thank you for the welcome message! Also, congratulations on your purchase of two rental properties this past summer. That is an incredible accomplishment. I love the plumbing issue video you posted on Instagram, the exciting realities and challenges of real estate investing with a behind the scenes look. 

    Thank you for all of the information. I agree, finding the right property can be tough in this market and running conservative numbers on the ARV of the properties is very important. Budgeting an extra 10% for rehab is another great strategy to help mitigate risk as well and I will add that into my calculations.

    I really appreciate all of the details here and I'm very excited to purchase my first property. That sounds excellent, I will reach out to you directly with any questions as I continue to evaluate properties in the Southern New Hamshire area. 

    Sincerely, 

    Joe Cote 

  • Rental Property Investor · Hollis, NH · Member since 2018 · 108 posts · 36 votes
    6y

    Welcome to BP Joe! Fellow NH resident and investor here! Lots of great info on BP as well as the meetups. I've been to the meetup Gal suggested in Nashua a few times and made some great connections including our agent/property manager. Definitely worth the time to attend some of the meetups and get to know some local folks. It's definitely about relationships! Though I'm still a newbie myself (bought our first to properties this year) I'm happy to help however possible. Good luck in your search and have fun! 

    Happy Holidays,

    Rick

  • Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes
    6y
    Originally posted by @Joe Cote:

    Hello Bigger Pockets community, I hope everyone is doing well and preparing for an excellent holiday! I am a salesperson living in Manchester, NH and I have the opportunity to help some of the fastest-growing companies in the Greater Boston area optimize their talent acquisition strategy. Today, I do not have any investment properties and I plan on changing that. My real estate investing "why" is to obtain valuable and quality Time. My motivation is to be present and spend more quality time with my fiance, loved ones/family (our three dogs included), and friends. After a year of listening to podcasts, reading books, and building relationships with my direct network, I have finally decided to post on the BP forums for the opportunity to network with some rockstar individuals with similar goals and motivations. 

    My plan is to purchase a 2-4 unit property in either Manchester, NH or Nashua, NH and follow the BRRRR strategy guidelines using either hard money or private money to help fund the down payment (or the full purchase price depending on the state of decay). While Massachusetts is an expensive market, the border cities in New Hampshire seem to offer comparable rents but with lower purchase prices (based on the deals I have analyzed thus far). Admittedly, I am currently living in an SFR and paying the full mortgage every month. This was not the best decision and now it is our largest liability. I am willing to learn from my mistakes, willing to get creative, excited to network, and provide value to others throughout my real estate investing journey. Thank you, and I look forward to connecting!



    Hello and welcome! Best of luck to you!

  • Member since 2019 · 12 posts · 6 votes
    6y

    @Jonathan Bombaci Thank you for the welcome message! The meetup your team hosts in Lowell sounds like something I am definitely interested in attending. Hard money is an option that I have been considering and I'm eager to learn more. 

    I really appreciate all of the details here Jonathan. BiggerPockets is an incredible community and I will look further into the event. 30-40 attendees is a great networking opportunity with other investors who might be in a similar newbie position. I will be sure to enjoy the ride and have a great upcoming new year! 

    Sincerely, 

    Joe Cote 

  • Rental Property Investor · Morgantown, WV · Member since 2016 · 235 posts · 135 votes
    6y

    Welcome Joe! You have made a great decision to get involved. I started out investing in Real Estate with 2k dollars to my name and 120k in student debt. No Money Down real estate investing is very powerful and was the way I got out of my rut. Seems like you are on that path too. I would try to get away from bigger cities as it is harder to get no money down investing deals done. Not impossible but you need to have solid connections because in bigger cities/sub-urban areas people know the next guy is going to put in an offer in a couple days and it will be all cash or at least more money down. These are just stronger offers and sellers are more comfortable with them. If you go to areas that do not have saturated markets getting a no money down deal done becomes a lot easier. Check out small towns with colleges around them or places that do not have a lot of residential owners. 

  • Member since 2019 · 12 posts · 6 votes
    6y

    @Richard Lovering Thank you for the welcome message, it is great to hear from a local NH resident and investor! I definitely plan on attending the meetup in Nashua that Gal suggested. Building relationships is definitely key and it will be excellent to get to know some local folks. 

    Congratulations on your first two properties! I noticed you updated your LinkedIn profile with the two properties as well. I really appreciate the support and please feel free to reach out if there is anything I can help you with throughout your journey as well. 

    Have a great upcoming new year! 

    Sincerely,

  • Member since 2019 · 12 posts · 6 votes
    6y

    @Tom Ott Thank you for the welcome message! 

  • Bob BevisPro Member
    Rental Property Investor · NH · Member since 2019 · 11 posts · 3 votes
    6y

    Hi @Joe Cote,

    I'm also fairly new to the BP Community. I just closed on my 2nd SFH earlier in Dec. as a rental property up in Concord and am knee deep in learning experiences. I own another in Merrimack that I've had for about 5.5 years but looking to accelerate. So much to learn. Happy to connect. I also just attended my first of @Gal Peretz meetups in Nashua in November and hope to attend more as my schedule allows.

    -Bob

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