All Forum Posts by: Jaylan Archer

Hey Michael! 

Definitely a popular listing as the location is hard to come by. The Nubble has been a popular vacation spot for decades now and raw land not directly on the ocean is selling for $500,000+. This particular location like others have shared is close to the Nubble lighthouse, walkable to ice cream and a restaurant as well as inbetween Short Sands beach and Long Sands Beach. The draw in the summer months March to October is going to be fantastic with high occupancy and $400+ a night rates depending on size and amenities. 

The challenge is finding something or creating something that appeals to the STR market for a reasonable price. You will also find that the dates of October to March are very slow in the winter and often times people turn them into medium term winter rentals in order to keep them occupied.

I own a STR about 15 minutes from here and would be happy to share my calendar and numbers with you.

Hey Alan! 

Congrats on getting a wholesale deal under contract.

I know of several wholesalers in the area and will PM you a list. Izaiah is one of the good ones so definitely connect with him too!

Hey Kasey!

I concur with what Joia said here, definitely smart going with the 2-4 small multi-family route and house hacking your first investment. The challenge of it is going to be finding a property that makes financial sense. Typically for the 2 unit you aren't going to be able to pay all of your rent with just that one tenant, with a 3 or 4 unit that can drastically change your cashflow and turn a property into a winner. Have you looked at the area and could do you have the saved capital to afford a 3.5% FHA loan with some of the prices of NH?

There are some areas outside of those few towns you mentioned, Portsmouth, Durham and Salem, where you will need quite a bit less for a down payment to get started, but they might not be areas that are super desirable for you to live. 

Would be happy to connect with you.

Hey Matt! 

I concur with what Jason said here, definitely smart going with the 2-4 small multi-family route and house hacking your first investment. The challenge of it is going to be finding a property that makes financial sense. Typically for the 2 unit you aren't going to be able to pay all of your rent with just that one tenant, with a 3 or 4 unit that can drastically change your cashflow and turn a property into a winner.

Dover is a great market but competitive so you might want to consider the surrounding more affordable markets like Somersworth, Rochester, Farmington and Milton.

Would be happy to connect with you.

Hey Danny! 

Congrats on getting the first four unit. It's hard to find those in the Portsmouth market and especially hard to get them as an owner occupant when there are plenty of investors searching for those same buildings. Sounds like the perfect first purchase. 

I agree it would be better to look at these hard numbers as dollars and not percentages. If you don't put that extra 5% down what is your monthly payment going to be compared to putting that extra 5% down? 

Without seeing the numbers, I personally would take that 5% and use it for my next investment. Perhaps finding something that needs a little bit of work that you can use your cash on to improve the unit. If rates hold steady (who knows if they will), you might be able to pull off a brrrr with your second purchase and get into whatever you are looking to do for your third. 

Hey Thomas! 

Congrats on jumping in and setting some goals for this year. 

I would definitely recommend focusing on the markets you are familiar with which are usually the ones you live in. 

 Knowing the demand, rental trends, and neighborhood nuances can significantly impact the success of your investment. Our region presents distinct opportunities and challenges, and by tapping into this local knowledge, low vacancy, high demand, high rent, etc, you can strategically position yourself for maximum returns.

Even with your lease not expiring until October, owner-occupant financing is a game-changer for those considering house hacking. This type of financing, designed for individuals who will live in the property, often comes with lower down payment requirements and more favorable interest rates compared to traditional investment loans. Taking advantage of these lending benefits not only eases the financial entry point but also sets the stage for a more secure and profitable investment.

Saving as much cash as possible as early on in the process is huge so the low down payment option of owner financing I can't recommend enough. 

Hey Nandish! 

Congrats on looking to get into STR's.

Can I ask if you were leaning towards a tiny home on wheels or an actual small home that is on a slab or foundation? I can really only speak to the home not on wheels but would be happy to connect about building a tiny home for STR purposes.

Hey Camden! Congrats on making the move.

Typically a lot of the auction properties or REO's can require cash and unfortunately are kind of hard to find right now.

I've got a good list of auction companies and wholesalers in the area that I am happy to share. Feel free to reach out. 

Hey Alecia! 

It is difficult to finance a mobile home, especially one that is not going to owner occupant. 

Have you considered a DSCR loan or does the deal work with a private/hard money loan?

Very nice! congrats on the potential deal.

Would be happy to connect with you sometime via coffee of lunch.