All Forum Posts by: Laura Cardenas

Hello Darian!

I house hack in Rochester and own rentals in Somersworth ☺️ 
Id be happy to chat any time if you had questions. 
If you’re looking for a knowledgeable realtor in the world of multifamiles, use Jess. She got me in my house hack☺️
The best in the state!!

@Matt Lefebvre could probably answer that!

Hi @Brian Leland, Welcome to BP :) Thank you for your service. I'm new to real estate investing myself.. I currently house hack a 3 unit multi in NH, also have 2 other doors as well. I learned a lot of what I know right here on BP. I listened to BP podcasts and nothing else for like 9 months straight.
Goodluck on your journey!

Hi Robert, 

There is a lot of great advice on this thread. I wanted to add a note as I did not notice anyone else mention this. 

You can use the FHA loan more than once but you can only have one FHA loan at a time. In order to get a second property on FHA you will have to refinance out of the FHA from your first property.
Work towards it every day and soon enough you will be a house hacking landlord..
Good luck!

Hi Taylor, 
Did you end up figuring this out? Are you house hacking? If so how is it going for you?

@Gerald Barron
The only time I'm holding a property for someone is if the tenant has paid their "deposit to hold" which turns into their security deposit upon move in. If they haven't signed anything and haven't paid anything, I'd definitely be going with tenant #2 in this scenario. I love when prospective tenants take the initiative to get their application and credit/ background checks in as soon as they leave. 

My vote is for tenant #2!  Good luck 

@April Littleton

Hi April! Congratulations on having your first house hack under contract. That's so exciting! I am not sure of the laws in Ohio but in New Hampshire you do not need to own your own property management company to manage your own properties. In fact, in order to start your own property management company in NH, you have to have a brokers license, which takes 2+ years to accomplish!
I think starting off with a duplex is a great idea. I’m confident that you can handle managing it yourself! Make sure you read some property management books. I’ve read Brandon & Heather Turner’s Book “The book on managing rental properties” about 6 or 7 times(I’m sure there are other great books out there too, do some research :).) I’m still new myself, so I wanted to make sure I really knew the material. I have been self managing for about 6 months now and currently have 4 doors.

I use Cozy.co, a free property management software. I run my credit and background checks through there. My tenants are able to pay rent on the software, they can submit maintenance requests on there. I upload all important documents to their portal so they always have access to them in case they misplace their physical copy. I have not a single bad thing to say about this software!

Best of luck in whatever route you choose! I’m Happy to help where I can if you have any questions feel free to shoot me a message!

I will be there !

Hello Alexander, I'm a self managing landlord in the Somersworth/ Rochester area. I will say that I am happy my rentals are in the mid-lower price point. I feel if LTR were at risk during a time like this is, it would be the high end rentals.. all this being said, I am still new to this whole world of real estate :) goodluck 

Hey cole,

I’m also in NH.. after a quick google search I found 7 apartment buildings in Londonderry.. there are definitely people renting there you just haven’t noticed it. 

NH vacancy rate is much lower than the national average. Southern NH is a great place for rentals imo because you’re going to have people from mass that may be interested in getting away from the city but still being close to their jobs. 

Once this stay at home order is done, you should go to a NH REIA meeting. (I go every month) They're full of great information and wonderful for networking. Im sure you could find a REI who has rentals in your area that you could chat with more specifically. My rentals are In Rochester and somersworth

Goodluck!