All Forum Posts by: Eli Jean-Gilles

@Eli Jean-Gilles NH rental market has been very strong for a while now, with almost 0% vacancy. Check out the state survey on rentals. Hard to see it changing with essentially full employment, no vacancy and an influx of people from MA post-pandemic

@Jonathan R McLaughlin I appreciate the perspective! I’ve noticed that there are a lot of new developments for apartment complexes - wondering how that will effect the hot NH market in the future. Any thoughts?

0 Votes

Boston, Massachusetts

Quote from @Sean Kelly-Rand:

@Eli Jean-Gilles - where do you want to live? Both because technically you should be living there to qualify and second others may have the same preference as well.

The other bit is the taxes, NH likely has higher property taxes but no income tax (and theoretically easier to evict etc..). And closer to snowboarding...

Worcester is changing - I lived there years ago and didn't love it but have seen a lot of investment activity move there and it has solid backing from the universities and hospitals in the area. And the nightlife / options are improving.

Or wait 12 months and see if you can get a Dorchester triple for $850K - I see prices sliding already and expect they will be at point where the math works in 12 months plus FHA is likely loosening requirements (PMI).

@Sean Kelly-Rand I’m from Boston and recognize that I have some bias. I’d want to live in the Greater Boston Area and dont really have the option to live elsewhere. Although I could put down 20% so that I didn’t have to live there.

I appreciate your perspective on the 3 areas! As you mentioned, I think I might wait it out a couple more months and come to a conclusion then.

1 Vote

Boston, Massachusetts

Also has anyone been able to purchase a 3-4 unit in this area and pass self sufficiency, within the last year or so? I’d love to not waste my one shot at 3.5% lol

1 Vote

Boston, Massachusetts

My goal is to purchase a cash flowing property 3-6 unit property within the next 6 months in either Southern NH or the Greater Boston area(north & south of Boston itself)…and maybe Worcester

I was planning on using an FHA in the fall of 2022 but I couldn't find anything for sale that would pass the self sufficiency test(in the Greater Boston Area). Fast forward a couple of months after I've sold some assets, I'm hoping to put 20% down on a property with a purchase price of up to $850k. I've also expanded my radius of where I'd potentially want to purchase.

Here’s my challenge: The Greater Boston area has always had a strong rental market(lots of jobs and new properties aren’t being built) but also expensive properties. Nashua and surrounding areas are a lot more affordable but I have a fear that the rental market isn’t as strong and with all of the new developments(& more space to build), the supply will eventually increase much faster than demand, therefore causing rents to drop. I’ve also thought about Worcester but crime is pretty bad over there in comparison to the other 2 options.

They say people are moving from the Greater Boston area to Nashua and that’s hard to believe with the two areas being very different. Alternatively, I could see someone moving from Worcester or Lowell to Nashua.

Either way, what should I consider when weighing my multifamily options between NH & MA? Any advice here?

0 Votes

Boston, Massachusetts

All Forum Posts by: Eli Jean-Gilles

Eli Jean-Gilles has started 1 posts and replied 4 times.

Post: What should I consider when weighing my multifamily options between NH & MA?

Post: What should I consider when weighing my multifamily options between NH & MA?

Post: What should I consider when weighing my multifamily options between NH & MA?

Post: What should I consider when weighing my multifamily options between NH & MA?