All Forum Posts by: Matthew Dennehy

Hi Nicholas, welcome!  You’ve come to the right place for financial independence, BiggerPockets is such a great resource. 

It looks like you’re from Londonderry, I would recommend starting to look for a nice 2-4 unit, house hack. Derry is right next to you, and it has a lot to offer for rental properties.  Let me know if you want or need anymore specific advice, I’m always happy to help!

From your explanation, it sounds like your Property Manager didn’t adequately represent your case in court.  It certainly seems like your tenant used a defense under the law that she wasn’t entitled to use, due to the situation, and your property manager just didn’t know how to effectively respond. 
It is definitely time to get an attorney involved to look at your options going forward. 

Hi Andre, welcome!  I had my first job at a marina on lake Sunapee. Let me know if you need anything while you begin your investing journey. 

Congrats Paul, that's great!  Yes, it's reasonable to raise the rent and require them to perform snow removal for their benefit.  Sometimes it isn't easy for everyone to do the manual labor involved with snow removal, so make sure to have a backup plan, such as charging a snow removal fee, if they don't want to take it over.  Other tenants prefer taking care of snow removal to avoid extra fees, so it all depends.

Also, I wouldn't advise writing your own lease.  There are plenty of hazards in doing so, even if you just amend an already written lease.  Make sure to get help where you need it, and a lease is not something to skimp on.

Hi Gus, welcome back to NH!  While NH property taxes can be high, you should treat it like any other expense.  Rents should be high enough to cover all your expenses, including taxes, and still net you a profit.  Also be aware that not all towns have the same tax rate, so towns are a lot more expensive than others.  So if you're considering any specific areas, talk to your Realtor about the different tax rates.  Lastly, single family rentals aren't very common in NH (though there are some out there).  More commonly multifamily rentals make more sense from the financial perspective, so keep that in mind for your house hack.  There are lots of great options out there, let me know if you have any other questions!

Depending on condition, you can probably, safely get the gross rents to 65k (separate utilities).  Hopefully that helps too!

Average CAP rates for listed properties in Concord probably fall around the 7-8% depending on timing. 8-10% is possible with some good negotiations and a solid plan in place for raising under market rents. There is often additional room for value-add in many properties that get listed. Hopefully that answers your questions!

 I am constantly finding good deals in New Hampshire.   Most of the time they don’t present well initially, but have so much potential that a good value add plan could be utilized to re-position the multi family and make it a great cash flowing long-term investment.   You will never trip and fall over a great investment in this market, but there is still a lot of opportunity to be had for those who know what they’re looking for. 

Hey Thomas, congratulations on getting into real estate! Feel free to reach out to me directly if you need help. There’s no excuse for bad service in this industry. 

Nick at Premier Home Inspections.  He is among the most highly qualified master inspectors in the state, gives a ton of great value in a very thorough inspection, and has a great objective/non-alarmist approach.  We recommend him to our buyer clients and they love the inspections they receive.  I’m happy to make the introduction if you like.

https://premierhouseinspection...