All Forum Posts by: Nick Hamel

Thanks @Megan Frank and @Matt Lefebvre. That's about what I expected. Meghan, I would have never thought rents in Somersworth would be higher than Rochester. I figured they'd be around the same, if not Rochester a bit higher. 

This is GREAT, thanks Brandon!

-Nick

@Richard Dale-Mesaros, thanks Richard! 

@Matt Lefebvre Thank you for the warm welcome and insight into the NH market. 

Logistically even though we live in Maine, we're MUCH more connected to the Seacoast NH area, being  only 4 miles from Downtown Dover and Somersworth and 15 minutes from Rochester. I can't see us investing in the Portsmouth/Hampton area anytime soon, the real estate prices there are just too high right now. 

Rochester is one of our areas of interest, as my wife is from there and we frequent the area. It does seem like the wave from the seacoast is finally reaching the Rochester area. You are right though, there are plenty of overpriced properties in Rochester where the Math just doesn't seem to work. Even though the city seems to be on the upswing, it still has a way to go to command Dover-like rents and property values. 

Should I be concerned about the property taxes in NH as opposed to investing in Maine? Somersworth is easily the closest market to us with good stock of affordable rental housing, but the sky-high property taxes are a major concern. Also it seems like Rochester's housing market is actually faring better than Somersworth's, presumably the tax issues and city problems factor in to that. 

-Nick

Howdy! 

My name is Nick. I've been lurking on Bigger Pockets for a while now, reading the books, listening to the podcasts and of course perusing the forums for almost 2 years. After all of the reading, listening, talking and planning, it's time to act! 

I live in Southern Maine with my wife and 2 young sons. My wife and I are committed to purchasing at least one buy and hold investment property in 2019. After a little while on the forums and listening to the BP podcasts, it was a bit surprising  that little-ol'-Maine gets so much attention from investors from all over. I guess we're in the right place anyways!

Initially our focus is small multi-family properties within an hour or so of our home, so Southern Maine/Seacoast New Hampshire area. Single families aren't out of the question either if the price is right to cash flow. In addition to becoming active here on BP, we are interested in local real estate meetups and networking with like-minded people around us. 

My "real job" is a direct sales rep for a communications and software manufacturer, so I am pretty much always "driving for dollars"...  I love what I do, so although financial freedom is the ultimate goal, I'm not looking to quit my day job quite yet.  

I look forward to becoming an active member of BP and hopefully meeting some of you out there!

-Nick