All Forum Posts by: Oliver Salmon

Hello BiggerPockets, I am new to joining the forums but have been listening to the podcasts for a few months (over halfway through them so far). My real estate story thus far is short: I bought a fix and live-in single family home, my wife and I fixed it up during my [physician] residency training, we sold it for a profit, and now we are closing on a new home where I will be working post-training. I will admit that most of the profit in selling our first home​ came from our neighborhood in Rochester, New York going up in value, but I do think we added some value to the home as well. Our new home is in New Hampshire and has an "accessory dwelling unit" / in law suite, which we plan on renting, especially since NH law is making it easier to rent accessory dwelling units (RSA 674:71 through RSA 674:73). I view this as a light version of house hacking. I am moving to the Plymouth, NH market. For those less familiar with NH: Plymouth is a small college town near the geographic center of NH, but it is well north of the so-called "central New Hampshire" region where most of the larger population centers are in the state. Instead, Plymouth is in the rural "lakes region" or "mountains region," depending on your cut offs. From what I can tell, downtown Plymouth is currently saturated with college rental investment companies. But I am hopeful that the rest of Plymouth and/or surrounding rural towns will have property opportunities that I can buy and hold for renting to people who live longer term in the area (people who work at the University, hospital, etc). I plan on building a profitable portfolio that will eventually serve as my retirement income. I always get inspired hearing about the BRRRR method and subject to as means of getting into more properties without constantly needing to raise another 20-25 % down from personal funds, but obviously I do not have experience in either of these yet. If​ anyone happens to be familiar with my relatively small market region or if anyone has good ideas on how to be successful with real estate investing in rural New England / rural USA I would love to hear from you. I hope everyone has a nice and productive day.

Thanks @Megan Frank. I was not thinking about how towns could still require me to live in the property in order to use it as a functional duplex via their housing codes. I am curious to see what new housing codes towns will develop in response to this law (or if they will make new rules to help clarify at all).

Hello All,

I was wondering if anyone has thoughts/opinions on the new accessory dwelling unit law in New Hampshire (RSA 674:71 through RSA 674:73) and its implications on renting in NH? Specifically, the law includes provisions saying a town/city can not stop any accessory dwelling/in law suite already in a home (that was legally put into that home) from being rented as a separate unit, as of June of this year when the law takes effect.  Unless I am reading this wrong, it seems that any single family home with an in law suite automatically becomes a duplex from a landlord perspective (and I suppose fix and flippers may find it easier to create a duplex from a single family home).

I was wondering if anyone thought this is a "big deal" that changes how they would approach real estate investing in NH (making some single family homes a more logical financial investment?) or if they feel this would not come up very much.  I myself will be closing on my new home in NH soon, which has an "accessory dwelling" that I plan on renting, but have not decided if this is the type of thing to really look out for in future properties or more of a mild convenience.

See this link for the NH government site on the new law: https://www.nh.gov/oep/planning/resources/accessor....  Just to clarify, I am no lawyer so I very well may be interpreting this law wrong in some way, shape, or form.