All Forum Posts by: Matt Herbert

Hey Tom,

Welcome to BP. Honestly, having only been here less than a week myself, it feels a bit odd to welcome anybody.  Anyway, it's always good to find more locals here. If you ever find yourself in the Lakes Region, ping me, I'm looking to build out my network.

Good luck in your endeavors.

-Matt

Hi @Aash Patel. Being new to BP myself, I found this thread very confusing at first. If you read the original post, from @Gal Peretz, you will see he had a link near the bottom of his post: "find more ". If you follow the link (in the word Here), it brings you to a different site outside of BP called meetup.

Meetup is where the get together's are coordinated. You'll have to login to meetup in order to officially mark yourself as "attending" the event. It appears that the events happen every month on the third Wednesday at 7:00 PM in Nashua, at Fody's Great American Tavern. This month (February 2019) there are 13 people marked as attending.

I'm hoping to go myself this month, maybe I'll see you there!

Hi @Renae Bouchard, any updates on your Brrrr in Concord? I'm wondering if you've found a good bank for this?

I've done 2 cash-out refi's previously. One was done through Meredith Village, and the other was done with Granite State Credit Union. I liked working with GSCU better. Unfortunately neither was really a Brrrr ... mostly because I didn't really understand that strategy when I was doing them, and I left too much capital invested that I should have cashed out (live and learn).

One thing I especially appreciate about GSCU is they allow me to purchase up to 10 properties with mortgages on the secondary market before I have to go to commercial lending. It might be a little more work for me to close my loans, but it nets me significantly lower interest rates. All the other banks I tried wanted to send me to their commercial department once they found out I already had 3 mortgages. I talked to a couple of the commercial lenders, and they were telling me interest rates in the 5% range, while secondary market was around 3% (this was in 2015).

You may want to also consider that Brady Sullivan is opening a brand new Laconia complex in May (2019) - Apple Ridge. They have 1-3 bed garden style apartments available from $1085 - $1340.  Not sure exactly how many units they have, but I'd guess over 100.

I agree with @Liz Murphy that Laconia has had some modest appreciation the last couple of years. I estimate that my SFR there has seen a roughly 10-15% increase in value in the last 4 years -- not stellar, but it's not the best Market to begin with.

Prices are still fairly depressed in Laconia compared to surrounding towns. That means there are some cheap properties to be had. The question is if the city will ever really be able to turn itself around.

Hey @Stephen Polizzi, I recently upgraded to Pro which includes the forms pack. I've read through the lease agreement, and I'm definitely switching my rentals to it. My old document which I cobbled together from multiple sources I found on the internet is no where near as good or comprehensive.

I am not a lawyer, but I think the BP lease agreement is solid. I also appreciate that the pack comes with addendum, amendments, and several other forms.

@Lance Alonardo, I'm also in the Lakes Region. I was hoping to find people to meet up with in this market. Does anybody know of anything?