All Forum Posts by: Parker Fairfield

@Parker Fairfield, since you have property in NH, and are looking to be a property manager, you should be aware that NH laws do not allow you to collect more than 1 months rent and 1 month security deposit up front. No pet deposits are allowed, without exception. No more than 1 month rent and 1 month security. That is why so many NH landlords collect additional rent each month instead of additional security deposit.

Are there landlords doing it improperly? Yes, even some of the large complexes. Will it backfire if they end up in court? Yep. So now that you know, you can look it up in the RSAs online at NH.gov, and fix it. Especially if you are going to manage property for others, and you have posted this publicly. Good luck, it's an easy fix.

Ann,
Thanks so much! I just started studying for the real estate license - I'm sure that's in there. I'll review the RSAs and then review my existing leases and modify them.

Thanks!

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I'm a strategist - a professional consultant who's been paid to strategize, and see future trends. Years out. Additionally I love to network. I love to help others. People say I'm perpetually living outside the box; I don't have a box to live outside of.

I'm helpful, and I need help. Like all people. And I want to network with those of us living inside of this box.... So I thought I'd create the "302 & 16 Club" and see if we can fill it with interesting people living/working from Bartlett to Bridgton to Brownfield to Tamworth & back.

Hopefully this will work.

Let's get together for a lunch, of after lunch. Brief introductions, and areas of interests ... and then devolve into individual discussions.

And then plan the next time ... maybe once a month?

https://www.biggerpockets.com/forums/571/topics/67...

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Tom,

Loved to read about you - I think I just posted into the same group introducing myself! (It was https://www.biggerpockets.com/forums/55/topics/673524-experienced-investors-in-conway-nh-and-fryeburg-me-area-lets-chat )

I've done a few deals - and also am just finishing my 40 hrs required in order to take the RE license sales person test.

I'm super excited about learning more about foreclosures (I'm currently JUST starting to look at them)

Also I'm trying to start a group for us to discuss all aspects related to properties!

https://www.biggerpockets.com/forums/571/topics/67...

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Originally posted by @Matt Herbert:

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).

Matt - I'd love to get together and learn from you. ESPEC the part about the loans allowing you to purchase the mulitple properties!

Any chance we can figure a way to get together?

Maybe we make an event of it? https://www.biggerpockets.com/forums/571/topics/673660-302-and-16-club-from-bartlett-bridgton-brownfield-tamworth-and-back

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https://www.biggerpockets.com/forums/571/topics/673660-302-and-16-club-from-bartlett-bridgton-brownfield-tamworth-and-back

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Hopefully this will work.

Let's get together for a lunch, of after lunch. Brief introductions, and areas of interests ... and then devolve into individual discussions.

And then plan the next time ... maybe once a month?

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Thanks @Sean Walton

I found the local place to buy good furniture! And now I'm moving back to the USA; I was out on the left coast for a few years, now to the right.

Keep in touch!

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I'm probably going - and if I go I'll be driving from Conway NH ...

anyone want to go together?

Add me if you want to talk about going together - or getting together - and I'll PM you my cell

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Too bad it's a little too far away

Love that game! I hosted game nights in Guangzhou China with it!

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Originally posted by @Mary D.:

Hey Parker!

Replied at the other post. Yes yes yes I definitely suggest purchasing the BiggerPockets PRO membership. Its worth every penny! You can listen to all recorded podcasts, money podcast and have access to these amazing calculators for flipping, buy & hold, BRRRR, multis... You can even put your logo & take the estimate and bring it to the bank. Looks very professional & is really awesome to see all the info that comes out of the calculation.

Send me a message. As I said in the other post Im looking for property in Jackson NH and come from a family of builders contractors mason & always interested in green, solar, geothermal, off the grid...

When I read your post with Judy (my wife) I was really happy to learn so much about the subscription from your point of view.

I'm sure I'll get one for the 30 day trial - and then hope to keep it!

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All Forum Posts by: Parker Fairfield

Parker Fairfield has started 21 posts and replied 99 times.

Post: Newbie from Manchester, NH

Post: 302 & 16 Club:From Bartlett -Bridgton -Brownfield -Tamworth &back

Post: Campton, NH Introduction

Post: NH BRRR Refi; looking for Banks

Post: Newbie from Manchester, NH

Post: 302 & 16 Club:From Bartlett -Bridgton -Brownfield -Tamworth &back

Post: Tourist Area (Conway, NH) AirBnB and buying furniture/contents

Post: Southern Maine Monthly Investors Meetup (February)

Post: Cash Flow Game and Beers

Post: Buyin more invest prop/ Subscribe to BP, or not? Moving back 2 US