All Forum Posts by: Brian Ristola

or..if that doesn't work easily - Pop the trim, and pry (or sawzall) the door out - reinstall a new one.

Hi Brendan,

I haven't made it down to any NHREIA meetings as of yet. My Wednesdays typically have another get together (alright.....local poker game)...though I would like to go. I haven't made it a priority after seeing some of the names of guests that have been brought in - guru types selling bigger courses, etc..I should give it a chance regardless as I could benefit.

Have you?

I am up in the Mtns...Waterville Valley area - Thornton.

Brian

Hi Propmaster...welcome...didn't see your original post earlier in the month.

Rochester - Dover - Portsmouth: They are doing OK aren't they? This is the impression that I have gotten from friends who rent in the area, other friends who own rentals - and mostly (regarding portsmouth) the RE market that doesn't have a multi for under $400K on the MLS.

Sure...I am 15 min from Waterville (the mecca of condoland) and 15 min from Loon, and have considered it. I took a look at an REO in Waterville Estates a few weeks ago. It was a 1 bedroom going for 70K... Realtor had two other parties looking at it that afternoon right after me. With taxes around $4K, that wasn't the place to buy (it was in an area that has double taxation).

Speaking with a Realtor up here who works for an agency that handles rentals for owners, I was told that you almost have to be looking at 3+ bedrooms. That is where the demand is.

Honestly, I am more inclined to build a vacation home and market it myself...Have started some research on that, but have a lot of work to do.

Aren't many of the MHP investors former REI that don't look back?

Andrew...I have seen a website that lists rental inv props in the buffalo/rochester area and am intriqued as well. Finding the deals with the criteria that Mike uses is a bit difficult in my area (near impossible-blow outs on junk (tear downs) don't come out at the 2% rule)and those in that part of NY seem to break into Mike's criteria.

Owning a property from a distance can work, and people here do it. But buying site unseen, I wouldn't do it with a car, much less a house. Maybe get on a plane and check out some of the properties, management companies. I am guessing that anyone who buys without being in an area or buying site unseen has someone who they believe is both knowledgeable, trustworthy, and looking out for their interests in the area to do the same type of stuff that you would do yourself.

Do a google search, you will come up with some opinions.

I just finished the book last week. I enjoyed it, smooth read. He makes a strong case for SFH as the best rentals (at least in his market). Also, just some good tenant screening ideas.

Quite a few anectdotes, but not tedious....and comparitively to many REI books, not a big pep talk.

Nice... Rochester/Buffalo seems like an area of the US that has quite a bit of affordable selling prices, but still retaining a rent that is fairly high. The ratio's seem to work well there.

Have a minivan that works as perfect vehicle for hauling building materials (8' bed)... an old '96 saturn, and dodge 1/2 ton for plowing.

IME vehicle payments eat up so much of folks dough that they could otherwise be investing. May consider buying a new vehicle when pulling down over $150K/year, but until then....