All Forum Posts by: Jaylan Archer

Hey Tricia! 

I believe you can do a statewide background check through most rental softwares. If the potential tenant has ever lived outside of that county it might be best to do the background check by state. 

Hey Kris,

Great post and question. It surprisingly has become fairly common to see in the real estate market from the last few months. It gives the seller the ability to release the debt from the property and gain the equity they had in cash to use for their next home. 

A few questions I typically ask in preparation of writing an offer with a seller leaseback would be:

Does the seller have another property they have targeted or are they starting their search.

How long are they expecting to rent the property for.

What are they expecting to pay in regards to rent and utilities as well as prorations for fuel.

Definitely consult with your real estate agent further to go over recommendations to make your offer strong but also cover your bases. Like others have said a good deposit and lease would be important to have.

Hey Bridget!

A lot of great answers and insight already here.

Another thing that I do as an agent that is look at past sold rental properties and there rental rates. 

I can quickly learn what a two bedroom is renting for, or at least get a good idea of the lower end of the rental market by looking at rental rates for two bedroom units that have sold in the last year. 

An agent can pull this information and share it with you for any towns that you are interested in. 

Hey Dan! 

I agree with what Eliott posted above. You aren't going to be able to find much market specific information or data for a smaller market like New Hampshire on the forums. Your best bet is to reach out to an agent that knows your local market. New Hampshire all though a small state has very different local markets from the mountains to the seacoast to Manchester and Portsmouth. Looking at state data will be helpful but it will be even better getting more hyper focused information than that. Happy to help you get connected with an agent in Manchester if that is your goal market.

Here is a resource as well as far as information about the NH market. NH has one of the largest housing shortages across the US right now. 

https://www.nh.gov/osi/data-ce...

Hey Dan! 

Congrats on taking the step of getting yourself out there and in front of other investors. The podcast and forums here are a tremendous resource to be able to lean on when you are first starting. Hopefully you have a good foundation from your time spent listening and here and are ready to take some action. 

I would recommend getting out face to face with some local real estate investor meet ups as well as start reaching out to some investor friendly lenders and agents. The other thing that is helpful is to keep watching your market and familiarize yourself with buy and holds and potential flips that have come up for sale. The more you know about your own market the better!

Hey Cleiton and Vijay! 

Happy to connect with you both. 

Hey Rheis! 

Congrats on the desire to get things going with a new venture in 2023. 

It's difficult to get a loan for a business if it doesn't have a proven track record of success. It sounds like this is a business start up so you might be fighting an uphill battle. 

Banks typically prefer to see a couple years worth of revenue and profit before giving out a business loan. Often times they want to see a business plan as well as a loan proposal as to what the money will be used for, its payback and the benefit it has on the business. They often want collateral or a personal guarantee as well. 

Most small businesses that I have been able to look at are self or friends and family funded until there is that proven track record. 

Hope that helps!

Hey Jordan!

For markets that I am familiar with - I would recommend the following:

Manchester, Nashua, Concord, Dover, Somersworth, Rochester 

These towns are all larger multi-family communities with a decent amount of multifamily inventory and a good draw. NH rental supply is one of the lowest in the US. These areas benefit from good overall cashflow and moderate to slower appreciation. 

For similar towns in Southern Maine:

Sanford, Biddeford, Saco

If you wanted to consider more of an appreciation market or class A type of rentals:

Portsmouth, Rye, Hampton, Seabrook, Newmarket, Durham, York, Kittery, Portland. 

I frequently work with a lot of investors that are doing exactly what you are. Within just about an hour or two of Massachussets there are a lot of great rental markets with low supply, extremely high demand and appealing cashflow. Nh from my experience is also a bit more landlord friendly than Maine and Massachussets. Happy to help if I can. 

Good morning Vijay! 

Southern Maine and NH are great markets for cashflowing multi-family properties. Depending on which town you are focusing on some have had better past history of appreciation and ease while towns like Sanford, Somersworth, Rochester are more known for cash flow. 

I am an agent in both Maine and NH and own multi-units in both states. Would be happy to connect. I also have a list of wholesalers that are operating in this area. I've found that most of them deal with single family properties. 

Hey Patrick! 

Congratulations on the purchase of your first duplex. Dover is a fantastic market right now benefiting from the proximity to Portsmouth, new high school and local employers. I have been working with several investors over the last few years that have focused in on Dover for the appreciation as well as the cash flow. 

I always receive a security deposit for my rental properties and recommend it to the investors I work with as well. There is a good chance that during the length of you owning this property someone will damage something or leave it in an unsatisfactory condition. 

Nathan is spot on in regards to laws limiting the amount of a security deposit - Nh allows for it to be the amount of one month's rent. 

Here is another website about NH security deposits.

https://nhlegalaid.org/self-he...

Would be happy to connect with you or recommend a property management company if you decide to go that route.