All Forum Posts by: Heidi Wallingford

Hey Heidi!

I am a real estate agent in Southern Maine and NH and own a STR as well. I definitely recommend the lakes region of NH like you said. The year round activities lend itself to a draw year round and therefore STR are very popular and booked. I do concur with others as far as price point - it might be hard to find something in the lakes region that works right off at $350,000. You will likely be purchasing something that needs some work.

A few other markets to consider would be Hampton, NH for a beach community. A very nice draw here in the summer months with great beaches, the strip, restaurants and a few concert venues. York, Wells, and Ogunquit Maine are also great retreats but also fall under more of a summer draw. 

Would be happy to connect and help you on your search if I can. 

ski towns could be nice. most of the mountains have year round activities. near the coast in portsmouth is a nice area. great restaurants and bars. im also in mass but went south for our STR. eventually id like to get something in NH or maine. i have a friend with a rental in NH he says theres not regulations that hes aware of which could be a problem down the line. 350 might be tough to find. your close enough to take on a fixer doing some of the work yourself.

Currently doing a 1031 to exchange an LTR for a STR in NC. Fortunately, I got the replacement under contract before the sale of the relinquished closed...I know I would be stressing too if my 45-day clock was ticking without something identified.

Can't help with the direct question, but a couple of things to consider:

1.  Consider the actual amount of capital gains taxes you're looking to save (well: defer).  If the gain on the relinquished property was modest, like say 100K, the most tax you're looking at deferring would be $20K.  Trying to identify something too fast and buying the wrong property could quickly wipe out a savings like that.

2.  Perhaps the gain was larger and you're looking to acquire the new property with little or no leverage.  If this is the case, you may consider getting a more expensive property and using a bit of debt.  Of course, this comes down to your risk tolerance, but I believe the right property with reasonable leverage can be less risky than the wrong property with no leverage (from a wealth perspective).

I am not sure you can hit that 350k max price point near the lake. Have you started looking? Prices are all over the map, but for something decent I think $450+ is more realistic. That is me assuming you want to be close to the lake. 

Anywhere in the Winnepesaukee area would do well. You've obviously got the lake in the summer, and ice fishing, skiing, and snowmobiling in the winter. Not to mention proximity to the Whites.

Another area that I've got my eye on is the Franklin/Tilton area. They are building the first whitewater park in NE where the 3 rivers meet. Looks to be a huge project that will bring a ton of people to the area. Happy to connect and share ideas.