All Forum Posts by: Cody Barna

While it might feel "safer" to purchase a property with cash, consider your financial situation before making that decision. (Especially if you're looking to scale quickly.) Just because you purchase a property with cash, doesn't mean there won't be costly maintenance involved. Personally I'd feel more comfortable purchasing less properties, while maintaining a sufficient amount of cash reserves. Although you might be in a strong financial position, with a consistent amount of high income. If I had the option between the two, I'd leverage my money and keep more cash on hand for future opportunities. (Plus, you can generally pay off the mortgage sooner than 30 years.)

@Eric Rosiello Another nice area is Lincoln, New Hampshire. In addition to Loon Mountain, there's a lot of rivers, hikes and scenic drives. (Making it a great area to visit during all seasons.)

I spent a lot of time there growing up, most of which was during the summer. During the winter there's a lot of demand for STRs, especially near the entrance to Loon.

As an example, check out 21 Franklin St in Lincoln. It's right down the road from Loon and supposedly performed really well on Airbnb last year. Has quite a bit of parking, bedroom space, although one bathroom could be a drawback.

Hi Jeremy, some of those markets in Northern NH can be tricky for STRs, due to local restrictions. The seasonality of the NH market can make it tough to find the "perfect" area. Seeing as properties in the Lakes Region aren't super close to the White Mountains and vise versa. (Skiing in the winter, hiking in summer vs lake properties during the summer.)

Salem, NH is experiencing a lot of development and growth. Most of which is attributed to Tuscan Village, which is located in the heart of town. Real estate is very expensive in that area, so it might not make sense from a numbers standpoint. Many people living in Salem are doing so because they work in Massachusetts. Both Nashua and Manchester have a similar feel, although Manchester is generally more appealing. It's the most populated city in the state and offers a lot of jobs in various industries. It has more to offer for long term tenants, including multi-families, condos, townhouses and single families. (Although SFRs are usually the most difficult to find. 

As for Concord, it's much more laid back and doesn't have as much opportunity as Manchester or Nashua. (For the younger working professional.) However it's centrally located, which makes it attractive for those into outdoor activities. (All of the state offices are located in Concord.) Any of these areas would be a good spot for long term rentals. With the exception of Salem, since it will likely be tough to find cash flowing properties. 

@Tyler Halstead that’s a great point! Haha man time flies, I hope you’re doing well.

@Tyler Halstead Well done man, you must have been up against some stiff competition! The side by side duplexes are selling extremely fast, especially in the Goffstown/Manchester area.

@Colby Hanley thank you for sharing this article!

@James S. thank you for the insight, I never got notified by BP that members commented on my post.

Hey BP,

Would a fully disabled veteran be eligible to receive a 100% Property tax credit when purchasing a primary residence in New Hampshire?

I've been trying to find information regarding this topic, if anyone has experience or knows more details please share them below.

Thanks,

Cody

@Jeremy C. glad to hear you're enjoying real estate, it's definitely a plus that you already own a primary residents. That gives you more options when it comes to financing your next deal, considering you've built some equity so far. Based on the the current market, another idea to think about is converting part of your primary into a rental. Once the vaccine has reach all age groups throughout the US, I suspect people are going to start traveling like crazy! Congrats on all of your success so far!

@Nick Yego it's a good location for short term rentals, close to ski mountains like Waterville Valley and Loon. Then in the summer months it's about 30mins to Newfound Lake and 60mins to Lake Winnipesaukee. What kind of plans does your family have?