All Forum Posts by: Jaylan Archer

A lot of good opinions on here already but I figured I would share mine.

I don't personally have any short term rentals in NH or Florida but do have one just over the border in Southern Maine. I will speak more so on the Northeast market as I really don't know the Florida STR market.

Parts of Nh are going to have a great year round draw to them. The lakes region which benefits from summer and winter travel is a small, well-kept, secret market. The STR's here are primarily second homes that out of staters have converted over after realizing the returns they could get. Because of this - I don't believe there are many huge players that are truly running their properties as businesses.

The lakes region benefits from some of the nicest bodies of water in New England as well as close proximity to some excellent skiing, snowmobiling, snowshoeing and other winter activities. With several large cities within driving distance 6+ hours - the demand for recreational activities I believe is a safe play without the requirement for airfare. 

Gregg posted a great article with information into one of the more popular markets (Conway) just announcing a win for property owners. This is huge for a lot of local owners as well as the STR market in NH and potentially the surrounding states. Although others have said it won't necessarily impact what other cities do - I personally think the courts decision is better for STR than if the opposing opinion had won. Conway is one of the largest markets in NH and personally where I would like to purchase next.

Hey Courtney!

Personally speaking I would like try to get a better idea of what I was looking for. If I was interested in just a STR that I also could enjoy for a few days out of the year - I wouldn't consider a town that already has restrictions or regulation against short stays.

However - if I was primarily looking for a second home that I could also try to rent to gain some income offsetting it's overall cost I wouldn't have an issue with these two towns. From experience, the most lucrative short-medium term rental property will be one without the restrictions on how you rent the property. 

I have a STR in Southern Maine and would be happy to connect with you on how it does.

I would say most of the seacoast is seasonal with the summer being busy season for obvious reasons. 

NH has a better market for a year round draw.

Hey Timothy! 

Sorry about that - looks like you are right. I thought that they did most of New Hampshire but it looks like they haven't made it out that far west yet.

Hey Kris!

My office has a company out of it with one of the larger property management portfolios. Universal Property Management would be happy to meet with you to go over the market and how they work.

I am sure they also can provide a list of current and past property owners that have their units with them.

Hope that helps!

Hey Benjamin!

You sure have been busy. :) I'm a father of two, real estate agent and investor myself and am thankful for all of it. One benefit you will eventually have is six kids will hopefully turn into six helpers at some point. 

Congrats on the desire to start investing. I would see if there are any investor meet ups in your area and try to figure out what your why is. Are you looking for cash flowing properties or thinking of investing into flips?

Hey James!

Happy to connect and some great questions here.

As far as local real estate market - some of the biggest things to look for are how much are units trading for, what are rents for one, two, three, and four bedroom units. I would also try to get a better idea of specific towns, the draws to them in regards to employers and recreational activities and then get more granular on the details.

For FHA loans if you are going to be owner occupying you can purchase up to a four unit with as little down as 3.5%. Most of the owner occupant buyers employ an FHA loan for exactly that reason. If done right, you should definitely be able to find a property where you "live for free" after factoring in your tenant's payments.

That's how long term goals start! Just having an idea of where you are hoping to be can be very helpful. I always encourage a buyer to focus more so on cash flow on their first purchase. That will set you up for future purchases no matter if you decide to only ever have one rental.

Hey Ronald!

I would also consider some of the surrounding towns too.

Invetervale, Bartlett, Jackson, Albany, Madison and Eaton.

A few of these towns including Conway have had differing restrictions on STR's so I would also connect with an agent or do a little bit more research at the town level to try and understand what options you have.

The area is great though for a true year round appeal. It's incredible the downtown of Conway and what has popped up there over the years.

Hey James!

Congrats on starting to make the steps to start your investing journey. Where in NH or Mass are you considering?

House hacking a four-unit property can be a smart financial move that can help you reduce your living expenses and generate rental income. Here are some best practices to consider when house hacking a four-unit property:

1. Know your local real estate market: Research the local real estate market to understand the rental rates and property values in the area. This will help you determine the potential rental income and potential return on investment.
2. Determine your financing options: Talk to a mortgage lender or financial advisor to explore your financing options for purchasing the four-unit property. You may be able to qualify for a conventional mortgage, an FHA loan, or other financing options. I would recommend staying with four or less units like a few others have mentioned.
3.  You may want to consider hiring a property manager to help with these tasks. I'm happy to make some recommendations for this.
4. Plan for the long-term: House hacking a four-unit property can be a long-term investment, so plan accordingly. Consider your long-term goals and how the property fits into your overall financial plan.

Happy to connect if you'd like.

Hey Eric!

I can't speak to a short term rental in these areas but I do have a few specific areas worth mentioning.

New England is a popular destination for skiing. Some of the best ski areas in New England include:

1. Sunday River in Maine: Sunday River is a large ski area with 870 acres of skiable terrain and 135 trails. It has a reputation for great snow conditions and a wide variety of runs for all abilities.
2. Sugarloaf in Maine: Sugarloaf is the largest ski area in the East, with 1,240 acres of skiable terrain and 162 trails. It's known for its challenging terrain and steep runs.
3. Stowe Mountain Resort in Vermont: Stowe is a classic New England ski area with a charming village at its base. It offers a mix of beginner, intermediate, and advanced terrain and has a reputation for excellent snow conditions.
4. Loon Mountain Resort in New Hampshire: Loon is a family-friendly ski area with 61 trails and 11 lifts. It's known for its well-groomed runs and beginner-friendly terrain.
5. Bretton Woods in New Hampshire: Bretton Woods is a scenic ski area with great views of Mount Washington. It has 102 trails and 10 lifts and offers skiing and snowboarding for all levels.
6. Jay Peak Resort in Vermont: Jay Peak is a popular ski area for advanced skiers and snowboarders, with a reputation for deep powder and challenging terrain.

These are just a few of the many great ski areas in New England. Each ski area has its own unique charm and character, so it's worth exploring different options to find the one that suits what you are looking for.

A few of these are also better than others in regards to a year round draw. Hopefully it at least gives you an idea of a few places to start exploring.