All Forum Posts by: Richard A.

@Marielle Walter, there is no specific tax break for real estate investors, but NH is one of the only 2 states that don’t have both income tax and sales tax. So it’s very friendly to work from home environment. And since you plan on living here it will certainly add up overtime.
As an additional note, NH is very landlord friendly state, as opposed to neighboring Massachusetts, for example.

On the business side/commercial side they do have programs for depressed areas. I do not know anything for residential

0 Votes

I have commercial in Manchester. Manchester is very cheap. But I would not want to own residential in Manchester. Where I own commercial it is very rough. Not just rough NH standards. It reminds me of Lawrence MA where I own. Drugs are a huge issue and I do not see the area turning around. Rochester has similar pricing. It is priced that way because of the location. Manchester is 30 mins out of MA. Rochester is 1 hour. Berlin is the extreme of cheap NH real estate. You are not going to get murdered or bothered but where are you or your tenants going to work? Rochester people can work. Manchester they can work but would you want to live in that area?

3 Votes

I see 7-12% fees for property management around here. $1500 month property. $150 at 10% x 12 = $1800 a year

$1800 x 10 properties = $18,000. Someone can manage 10 properties alone but still you are only pulling in $18,000 a year

$18 x 100 properties = $180,000. Now you are at 180k but with 100 properties you now have inflated costs. office cost, employees, etc. How many employees would it take for 100 properties? Three full time?

What about 100 properties at $1000. Now you have only have $120,000 gross. With a lower quality renter/ worse property(more work)

Just curious how these companies are profitable?

0 Votes

Originally posted by @Blake Garcia:

@Richard A.

What price range and type of property are you looking at?

100-125k

0 Votes

Originally posted by @Imran Ahmed:

@Brian Plowman did you end up getting any . The town still seems on slow decline but home prices come up a little may be form the overall market boom anyway but sill some deals seems very tempting. Any investor from the area with better insights?

If you are in the area take a drive up and check the area out. I am about two hours south.

They have a prison in the area with decent income but outside of that not much. Clean updated home for 30k. Most homes I see for sale are on small lots though.

It’s a pretty depressing area. In my research in the past I saw that most people commute 1 hour plus for work. I looked at a couple places and decided against in

0 Votes

I am looking to get a rental unit. I have a home with 50% equity. 600k. Owe 288k. My income is 90k that I can prove from my full time job. I have a side business that is profitable at estimated 50k for the year. Banks are not counting this income yet.

I have zero debt outside the house. With my property tax and mortgage I get denied for mortgages for the second property.

0 Votes

All Forum Posts by: Richard A.

Richard A. has started 2 posts and replied 6 times.

Post: Projections on Markets in Manchester and Rochester NH or Others

Post: Projections on Markets in Manchester and Rochester NH or Others

Post: How do property manage companies, manage to scale /profit?

Post: Debt to income issue

Post: Possibly investing in Berlin NH

Post: Debt to income issue