All Forum Posts by: Patrick McCann

Hi Jen, I don’t have experience in self management from a far but I do self manage here in NH where I live. My opinion if it were me is if I had a network of people/vendors(family members or friends to keep an eye on it, contractors/handyman if any repairs were needed, a re agent for showings if needed and so on) and a online software for collecting rent etc then I’d be comfortable managing from a far. Otherwise if not you’d probably be better off with a property manager.

Yes NH can be competitive, especially in highly desirable towns like the ones you’ve listed. It’s likely those high price points are going to remain that way and continue to appreciate better than other markets along with NH having one of the lowest vacancies rates in the entire country if not the lowest. Perhaps you could look in some of the surrounding towns of the ones you listed and could find a property at a lower price but path of progress could be moving there. I currently own a duplex in Dover and live in one of the units. 

Seacoast real estate investment group on Facebook. It’s actually the second Monday of each month. I’ll check to see if it’s posted on meetup.com as well and report back 

Hi Matt,

I househack a duplex in Dover, NH. I've had it for a little over a year now. I watch this local market pretty closely and have networked with quite a few local people. I'll send you a message so we can plat to meet sometime. Also there is a meetup that meets monthly on the first Monday of the month at Chapel and Main.

Hi Justin,

I'm also in NH. Not sure I can bring any value to you though as so far I own one duplex. I do know Axel as were in the same high school different graduating classes and frequently listen to the Multifamilywealth podcast, I did connect him with my agent that has now made the swithc to commercial.

Hi Melanie, I’m just on the other side of the Piscataqua river in NH. I think Maine has potential for good opportunity right now, a lot growth in Portland and southern Maine. Surrounding areaS could be good to look into.

 Hi Eric, Thats a interesting coincidence that you used to rent in this house. From what I've seen it looks like Dover has increased in price alot since say 4-5 years ago, even since 2020. I still think there is potential in Dover but not without some work. It's definitely a good equity appreciation play market and rent prices are pretty high as well. That being said if you dig to find a good deal on a property that needs some work, has inherited leases well below market, or both you could create a cashflowing deal. It's also hard to judge what the small multis are worth with the small amount of inventory that has been on the market the past year and sold. For example though, This property doesn't cashflow with me living in it but if I were to move out it would rent for about $900/mo over the mortgage. I haven't really looked in other markets because I'm not really actively looking to buy anything right now. Some of the surrounding towns headed away from the coast could be areas to find cashflow. 

I’ve been able to do a lot of the work myself. Aside from a new furnace install and a roof leak repair. I’m considering hiring out the exterior painting when the time comes. My background is in Construction, although not exactly anything residential related. My job is more with cranes erecting large buildings in Boston placing the columns and beams, welding and such. So it’s not exactly similar to home renovations but I have a lot of experience with tools and have always been very handy. I’m considering learning more carpentry and transitioning over to owning a home construction business.