All Forum Posts by: Nick Sadler

Hi Nick,

I currently househack a duplex in Dover. During the closing process I had thoughts of whether or not I picked the right property, if it was a good investment etc. Purchased in December 2022 so with the interest rate, PMI, high property taxes in the area the PITI is a pretty big number, but great part about seacoast are of New Hampshire is rents are fairly high too and there's a lot of people looking to rent. Tenant covers 2/3rds of the mortgage so I get to live in an area I like for much less than what it'd cost to rent, and when I move onto the next property it will definitely cashflow pretty well! Also have been doing quite a bit of value add to the property slowly. My opinion I think NH is great market to invest in.

Hey Nick - house hacking is typically the best way to go when you're living in a HCOL area if you plan on staying there for a long period of time. Reason being, you're going to be collecting 'market rent' that you would otherwise be paying to help offset your living costs. 

With that being said, I am not at all familiar with your market.

Do you have any friends/family/family friends in the area that own rental properties that might be willing to throw you a bone and sell one to you at a discount where it makes sense for you to get in? I have a few buddies that got their start this way and it's made a large, positive impact on their finances!

Brandon Turner used to always say there is a good investment market within a 1-3 hour drive of an expensive market.

If your market is too expensive, you may just need to drive out a bit.
Furthermore, the goal with a house-hack is that your living expenses(the rent you would normally pay is decreased).

We also are in a weird real estate market where prices and interest rates are high. 
You may need to put down more of a down payment to properly cash-flow.

 Feel free to give me a call, happy to chat

Hey Nick! 

Congrats on taking the first step and posting about what you are looking to do. Getting around others that have accomplished what you are looking to do is always important.

I'm actually a real estate agent out of Portsmouth and an investor myself, so you can take everything I have to say with a grain of salt. :) 

The seacoast really is expensive - but with every negative - there is always a positive, it also has huge rental demand with steep prices for rents. If you are starting out I most definitely would recommend going the FHA owner occupant route and purchase a two to four unit. This is the best way to get started in real estate with little money down, and start the process of investing without a ton of risk.

I would focus on the areas you would like to be in and see what the market is there. Some of the seacoast has historical high appreciation and steady rental rates while other areas are known for a bit more cashflow and less appreciation over time. If you haven't already connected with a great local lender, I'm Happy to send over a couple of options for you to consider.

Hey Nick- nice to have you here. That is a lovely area- Portsmouth has so much charm. As far as the REI opportunities, I agree that investing can be intimidating in an market that is so expensive. House hacking can be a good method to deploy but that is not your only option.

Networking in order to get your feet wet and potentially finding off-market deals is certainly feasible, as well as buying a fixer-upper and even utilizing the BRRRR method, a tried and true way of scaling your portfolio (if that is a goal of yours).

There is also always the option of investing OOS. If there is a market that you are familiar with/you have some sort of connection to- it is always possible to kick off your REI career in an area outside of your hometown. This is particularly advantageous if said market is less expensive!

Starting out there are several strategies to make money in real estate using very little or no money, plus we have various ways to find off-market deals such as delinquent tax payers, driving for dollars, foreclosures, redemption deals, non-town-tax-paying entities, wholesalers, tax deed auctions, estate homes, the list goes on - there are always opportunities regardless of what area you live in!