All Forum Posts by: Rick M.

There’s no way I would be able to cash flow with a duplex. There was one in Portsmouth a while back that I wanted but it needed a ton of work. That’s the only area I would buy a duplex.

I’m also interested in Manchester there’s more nightlife there and a lot more properties (4 units and whatnot). I’m trying to keep my options open. I’m thinking long term I would be able to buy multiple Manchester 4 units rather than wait for that unicorn Dover property.

If someone is buying a 4 unit for $600 that’s doing no one any favors except maybe the seller and the agent, the market is high enough that would kill any chance of a decent priced property. The last 4 unit I saw sold in Dover was 33 Park St it was listed for $290 and sold eventually for $271. Whoever bought that STOLE that property. I was going to give him full list price cash but by the time I finally got a hold of the seller it was already under contract. 

I know after I occupy one unit, if I settled for a 3, I might not even break even, prices right now are through the roof. I’ve been running the numbers and the only hope I have of breaking even is a 4. I have seen some decent 3-plexes but I’m not in any rush to buy but I do want to get into the market while interest rates are reasonable low….the interest rate is the only thing pressuring me. I know my luck once I settled for a 3 the next week a cheap turnkey 4 unit would be available haha.

I’ve been wanting to invest into a multi-family property (4 or 3 plex) for some time now. This will be my first property I do plan on living in it to get firsthand experience being a landlord. I have been scouring the internet looking of a listing in Dover, NH. Yes I do have a agent (I haven’t signed any paperwork with them but they have been more than helpful with helping me look at listings that do become available) I have only seen one 4 unit in the past 10 months of looking and it was scooped up within being 5 days on the market. Right now there are a few 3 units in Newmarket and near Dover but not any 4s. I’m trying my best to hold out for a 4 unit but at this rate it doesn’t look promising to get a 4 unit near Dover. My question is should I hold out for a 4 unit or would a tri-plex be just as profitable?

I don’t plan on cash flowing too much because I will be occupying a unit, my realistic goal is to break even while I occupy one unit so I know when I plan on moving out of this building I will be cash flowing from the extra rent. Is this a naïve goal I’m shooting for? Any constructive advice I would love to hear it. Thanks BP