All Forum Posts by: Josh Birrell

Hi Jessica, thanks for the response.   Any thoughts on who I should talk to first in town to get a feel for their approach to historic homes?

Hi Everyone,

I'm looking at a five unit apartment building nearby.  All of the numbers look good and the building is in good shape for being more than 100 years old but it's in a historic district which worries me as I've heard some historic areas can be very difficult when it comes to making renovations or improvements.  Is anyone investing in this space and have any wisdom they'd be willing to share?

Thanks 

Josh

Thanks for sharing the thought process and research methods... really interesting.   Good luck out there.

Hey Sean, 

Congrats!  Sounds like you're really crushing it!  I've heard a lot of chatter about Cincinatti lately on BP, Can I ask how you found your deals and why you chose the areas you did?

Josh

Renee R. Hi Renee, I own a couple of units in NH and have read RSA 540 several times as I'm sure you have too. I think you are confusing a termination of tenancy or Notice to vacate/quit with a nonrenewal of the lease agreement. The former constitutes an eviction under NH law and the exceptions you noted would be accurate. However, if you are simply not renewing the lease, 30 days notice is sufficient and no reason is necessary. If you are still unsure, do yourself a favor and spend a couple hundred dollars to sit down with a competent real estate attorney, explain your situation and see if they agree. They will probably also send the letter for you.

we charge a cleaning fee in NH equal to what our cost is but if you live near your rental the clean yourself idea may be the way to go.   When we rent on Cape Cod we clean ourselves and the owners just go in between guests and get anything that's missed.

Hi Jake,

The thing you might want to get a better look at are your expenses. Things you will need to consider in addition to your PITI are utilities, cleaning costs, maintenance, supplies such as toiletries/paper goods etc, and any applicable taxes that apply to short term rentals in your area.

Maintenance costs can be somewhat higher with a vacation rental because of the constant turn over and a good cleaning person, while worth their weight in gold, can add to your costs unless you pass the entire expense on to your guests.  Short term rental taxes may apply to your vacation rental as well.  In Nh they are 9% and RI is considering 13%.  Also, we keep our vac rental stocked with paper goods, soaps, detergents, coffee filters, and a few other small things that guests appreciate but it can add another $50-$100 per month in the summer season.  All in all we'll worth it.

@ john Hyatt, I thought it was a great idea as well.  We didn't get to talk much about the price structure other than it was a nightly or weekly rate.   I guess there are probably a few ways you could do it, the simpler the better I think.   I know I would camp more often if I knew I could just show up to the camp ground and everything would already be set up for me and someone would take it down when I left.  I think there is a convenience there that people would pay for.   It may be a little more work than your typical vacation rental but just depends on the system you out in place.

So I'm in New Hampshire on vacation this weekend ( at our vacation rental) and got chatting with a very nice waitress who it turns out also invests in real estate. One of her newest ventures is pop-up camper rentals where the camper is delivered to your camp site and set up for you with items such as pots/pans, plates, glasses, etc included for use. I've been monitoring the bigger pockets forums, blogs, podcasts,etc and haven't seen much on this topic. I found the concept very intriguing and would like to know if anyone is doing this and what their thoughts are.... Thanks Josh

Hi Kate,

The condos at Settlers green can be a good vacation rental and as long as your unit is updated and well decorated $100/night is reasonable,but if you are not going to vacation there, which is why most people do vacation rentals, I think you might be better served doing a long term lease which in that area should bring between $750-$825/month.  The more lucrative vacation rentals tend to be slopeside or have superior mountain views.  Doing a long term rental will give you consistent and predictable income and expenses as you try to make a go of the duplex.  If the duplex works out you can always revert back to vacation rentals at the condo.