All Forum Posts by: David Bennett

Hi Kenneth, I suggest reaching out to Ken Cossingham Just google his name and his law office website should be your first search result. Good luck Dave

Beware of analysis-paralysis!

@Toan Le

regarding "is it worth to take that offer?"

that depends on many things. First you need to do due diligence and include all expenses in your calculation: some assumptions may be necessary if you can't get all expenses from the owner. Include *at least* these for now and use the Biggerpockets buy and hold calculator for help (or other online property analysis tool): this list is not exhaustive - just a place to start. Also, it wouldn't hurt to ask for a later balloon if you haven't already: start at 10 years and go down per seller's response.

1. Vacancy rate: I assume 25%
2. Maintenance reserve: assume 10% of monthly rent
3. Insurance
4. Property taxes
5. Utilities that you'll pay (heat for some or all units? electricity for hallway lights? water for some or all units? etc...)
6. Miscellaneous
   1. Snow removal cost (if applicable)
   2. Trash removal cost (if applicable)
   3. Lawn care cost (if applicable

Good luck!

Hi Axel, congratulations on your first property! I also attended UNH - late 80's - early 90's. The campus has changed a lot since then - what a great campus and school. 

Also, what is your plan for your first property? Hold or Flip or Wholesale?

Best regards

-Dave

@Giovanni Stein

"Other idea would be to invest further away with way lower prices, better cap rates, and landlord friendly laws such as Vegas, Texas, Arkansas, thoughts?"

Hi, yes, if you're just starting out I would suggest staying local. I base this opinion only on what I've heard in all the BP podcasts and various RE books; it also seems intuitive to me as I prefer to see my investment properties in person (at least from time to time and without heavy travel).

Good luck

-Dave

Darwin Cruz Yes for sure. Consider also that BP is a good tool for introverts. You can ask for help virtually without having face to face discussions if you're not keen on those. Also, related to introvert personalities, check out the book "Quiet". Best of luck!

Kevin Milton Hindrance could be the annual fee needed to maintain your license Good luck!

Ronald Russell Welcome! First get started on listening to the BP podcasts. Then choose a niche and stick with it! Best of luck

Hi Sean, 

ok great, thank you!

-Dave

Hi,

I am looking for a referral to a commercial RE broker who has brokered deals in southern New Hampshire (Nashua, NH and/or Manchester, NH area).

thank you for any feedback!

-Dave