All Forum Posts by: Joia B.

Hi Kasey- welcome to BiggerPockets! As far as I know, you can only utilize first time home buyer opportunities if you plan on residing in that property. So if your plan is to stay in NH, that property would have to be in NH. If that’s your plan, I would definitely recommend househacking,where you live in one unit and rent out the others. That’s how I bought my first 2 rental properties here in NH. I’d be happy to talk to you about my experiences in greater length and help in any way I can! 

Hi Zackery,

Welcome to BP! I househacked with my first two homes and I think that’s a great way to get started, especially while you’re young, since your down payment will be much lower than buying a true investment property that you don’t plan to live. Then you can scale up into different markets long distance when you have more capital to deploy. Happy to chat about different strategies with you any time!

Hi all!

I sold my investment property last week and am hoping to do a 1031 exchange. I've been looking for a while and haven't been able to find anything that makes sense within my budget, and the amount I'm preapproved for (500k) is less than the amount I sold my property for. I would ideally like to get into self storage or mobile home parks. I found a mobile home park that looks like a great opportunity here in New Hampshire with a decent amount of cash flow and value add potential for a little over 1M. I'm hoping to find someone that would be interested in investing with me on this (I'll share more info privately of course). I don't have any experience with parks but I'm ready to learn, get my hands dirty, and be the boots on the ground if you're not local.

Thanks!

Hi Neil,

As far as I know Bartlett is good at the moment but a few towns in that area are trying to restrict STRs at the moment. Im working with a few investors in that area that have run into this issue. A decision likely won’t be made until after the election in November. 
Long term rentals are hard to come by around here due to demand, but definitely more so in the Lakes Region than the Mountains.

Hi Rushda! I’m a local agent in New Hampshire and the Lakes Region is a great area for STRs with close proximity to lakes and mountains for all seasons! Feel free to reach out if you’re interested in discussing further. 

Hey Bradley, Welcome to BiggerPockets and thank you for your service! My husband is in the military as well :-)

Making the decision to become a real estate agent is definitely not something that should be taken lightly. As others have said I agree that joining a team right off the bat is a great way to get started because it can be extremely overwhelming at first. Burnout in this field is real so it's good to have a support system. I made the mistake of going solo in the beginning and wish I had joined a team sooner. A lot of companies have great training as well, some not so much, so I would definitely interview different brokerages before committing to one. As far as money goes, start up costs aren't too much- a couple thousand at most. NH has a required 40-hour pre-licensing course (now offered via Zoom since COVID), so if you become an agent in CA first and want to jump right into it when you move to NH I would definitely try to knock that out beforehand! Licenses have to be renewed every 2 years so if you leave CA after 2 years you could just go inactive if you do get licensed there first. I think becoming an agent is a great idea if you're planning on investing especially. Getting the commissions from your investment properties is a huge plus.

Feel free to reach out if you have any more questions!

Hey Garret, welcome to BiggerPockets! I'd be happy to chat with you sometime about this. I've personally be investing for a couple years and I have an excellent accountant. Feel free to give me a call/text, my number is listed below

Hey Justin! If you're considering NH I'd be happy to help. Definitely a lot of opportunities up here and probably less expensive than MA. Either way, happy investing! :-)

Hi Stan! First off, welcome to BiggerPockets! It sounds like you’re in a great place to be starting your investing journey. I started a few years ago here in NH and it’s been a good experience thus far. I’m partial to house hacking but I know that can be difficult with a family. There’s so many other great ways to get started though. I’d be happy to chat with you sometime if you’re interested, if nothing more than to just talk with a fellow investor!

Hi Brandon, 

First off, congrats! Especially at 23 years old, buying your first property is a huge deal. I would definitely agree with everything Dave said. Buying one house hack per year is a great strategy. If you're rehabbing it while living there I would refinance once the rehab is complete so you can pull that cash back out to use on the next property. Save all the cash flow as well and don't fall a victim to lifestyle creep. Big expenses can come up and you want to make sure you're prepared financially. You might not want to house hack for 10 years but even just doing it a handful of times will give you the experience and confidence to pursue bigger deals. Surround yourself with more experienced investors in your area to keep the momentum going. Check out local meet ups and see if you can find a mentor. I know from experience that you'll always feel like you should be doing more than you are currently, but remember you're much further along than most people your age! From the sounds of it you'll be able to retire very young if you continue on this trajectory.

Best of luck!