All Forum Posts by: John McConnell

That is a nice nest egg to start off with.  I would have to agree to take your time and get smart before you do anything with it.  The temptation would be to do something now.  I would read (Real estate and business books), listen to the BP podcast and the AskBP podcasts all the way through and get engaged on BP to figure out your strategy.  Take a 30,000 foot view of the general direction (real estate) and start to whittle it down to 20,000 and 10,000 foot until you finally get to a laser focused niche view of how you want to proceed.  I would probably figure out the best tax advantages.  Maybe look around to find a CPA (one smart with tax and real estate investment) and an attorney (Tax and real estate) in order to start building that relationship.  Do the leg work and figure out the numbers and how to find a good deal.  You could probably for the moment dump the money into a couple Money Market accounts so that it is still liquid but also earning a little interest (more than savings account).  Figure out goals and figure out very next actionable steps to get there.  Dream big!

 Great reply @Brett C..  I am trying to calculate like the owner occupy unit doesn't exist in the equation.  So when I run my numbers for say a 4 unit I just run the numbers for the 3 units that are paying.  Are you saying that I should instead calculate with market on that owner unit and then also maybe just put that money out of pocket directly into my unit as well..  so say the owner occupy would normally cost me 650..  I should take the money that I would already be spending on an apartment and pay it in to myself (whether physically or logically)?  So just run the numbers as if it were a normal investment property and then adjust based off of my portion of the rent due?  Thanks for the insight!

I usually catch Ann at the door before the meeting starts. That's the best time to catch her ;-) Welcome to the NE REI gang @Matt Crow! I have not interfaced with any wholesalers here directly either yet but I can recommend looking at some other options of REO, Foreclosure, pre-forclosures, craigslist, facebook (groups for REI people). Don't know the criteria your looking for but those are some of the places I look. I also have a great Agent in Nashua if you need one. Usually as soon as something that fits my criteria pops up on the MLS I get a message and link. But I would agree the deals will get snatched up fast.

Wow.. I think I just got a tour of the entire state right there.  Love threads like this.  I think that is what is making my number crunching so hard as well..  I grew up in the Midwest and recently moved here this year.  The numbers here are crazy!  Add in the fact that majority of the homes are .5 - 1 century old.  It amazes me to say the least.  There are deals out there to be had as far as I can see it is just scattered and handfuls.  Good luck if you decide to move forward with this one.  I don't think there was an answer if it will be owner occupy or not?  That will make a huge difference.  That is what is making things hard for me is I want to owner occupy.  Any advice whether 2 - 3 - or 4 is better for owner occupy in NH?

@Kristin Sundberg welcome! Another NE REI. Don't forget to check out the podcasts, blogs, and definitely check out the REIA meeting (I am pretty sure its in your neighborhood or near by). You can find the local meetings on meetup (app). Very new investor in training here as well since may.

@Shaun Reilly Thanks for the info. I have been to the REI in Manchester (I think that is where I met Justin), the two in MA and the Black Diamonds event (@Ann Bellamy). So far all have been beneficial. Although I tend to prefer the masterminds over the REIA. I try to get something out of every meeting I go to. I will for sure shoot for the 22nd.. are they on meetup as well?

@Justin Silverio for sure! Guess I will need my snow tires for the next one... :-\

Totally feel you! Im in the same kind of boat out here in Nashau... Financing is a bit of a problem but it is allowing me to figure out how to do this. Maybe check the REIA out there as well (there was an investor meeting in southshore area tonight.. I think every other wed or maybe once a month @Justin Silverio runs it).  Great place to meet the locals and find out about investing opportunities in the area.

@Tom MoleVery glad I could help and your math has opened my eyes and things are starting to get clearer..  so thank you!

Convicted felons and smokers both fall into the same category of not being a protected class correct?  Thanks for the great post and replies!

@Justin Silverio still have not been able to make it to my first event but hoping to catch the next one.  Too many late night conference calls.  I hate it when work gets in the way of real estate. ;-) If you wouldn't mind adding me to the mailing list please.  I will try to PM you as well just in case.  Thanks!