All Forum Posts by: Sean Ebert

Hi jeremy,

I have to say I think you can get a little more that $1,000 for a 3 bedroom unless you’re in a very bad area. 

I’m currently working on getting a 2 bedroom filled in a B class neighborhood asking $1,000 a month and have had a ton of interest  

I also agree with doing group showings now. That’s all I do. Set up a couple days and times and tell people that it will be a group showing. So much time and effort is waisted trying to work with people and to have them just not show up. Especially is your traveling to the apartment to show it. I’m showing an owner occupied one and still hate the time wasted on no shows! 

Sean 

@Josh Mitchell (not sure exactly how to use the @ sign). Thank you for the response! I'm not looking to get cash out just strictly to use the FHA 3.5% down again. Can't go wrong with the low down payment for the loans! I will try and do this method for as many as I can, which i believe is 4. Looks like i need to do some calling to get some rates and work some numbers. Thanks again!

Hello All,

I have a question about refinancing out of my FHA loan. I bought my first owner occupied duplex over the summer of 2015 in Manchester, NH. I did minor upgrades in one of the units (flooring) and plan to do some more basic updating. I doubt the minor updates have raised the value enough to give me 80% equity. My question is, is there anyway to refinance out of my FHA loan with not having enough equity into it. I want to get out of the FHA loan to use it to buy another owner occupied property with it after I've been here for one year. I would appreciate any recommendations or advice.

Thanks!

Hello Axel! 

I'm currently looking for my first multi family deal in southern NH as well. I personally would recommend reaching out to some agents/brokers for assistance. I've found that some of the online sites can be a little out dated with the not most accurate information. An agent could be a great took to your investing. I would also recommend going to some REI groups/meetups. I bet someone at those would have something to sell. Word of mouth is still a strong way to network.

Where are you looking to purchase?

Hi Anthony,

I'm doing the same thing right now. I'm looking for my first multi family deal in NH. I'm obtaining it with a FHA loan because of the low down payment. With that, as you said, you must occupy it (I believe for only a year in NH).

I would definitely recommend going to a REI group meet up. I went to my first one in Nashua a couple weeks ago and it was great!

Do you have a real estate agent? If not, maybe ask around on the forums for an investor friendly agent in the area.

Best of luck to you!

Ann. Thank you for replying. I don't have any kids at the moment so i am pretty flexible. Nashua i am very familiar with that's why i was considering it. As you said, most of the multi families in Nashua are in the not so good areas. I'm not too familiar with Manchester. I would love to buy in Hudson and have looked at Derry. I think i will definitely consider it more! I see you're a hard money. Do you only fund rehads/flips? Or do you fund multi family rehabs, lease up, and refi out? Just asking for future references. Thanks again!

Brett. Thank you as well! I think i will definitely look in Derry. It seems that schooling is a big deal in NH and can make a difference as far as value. I will try and keep you updates along the way! 

@James Wise

Thanks! I actually just went and made the alert.

Hello all,

I have been on BP for a couple years now soaking up information. I'm finally ready to pull the trigger and start my investing venture. I will be purchasing a multi family owner occupied property for a buy and hold. I've already been approved for an FHA loan and have started my search.

My question is what market in southern NH do you like to invest in or recommend to invest in?

I currently live in Nashua, NH and work in Merrimack. I would like to stay in the general are but am open to different locations/markets. I know pricing a rents vary from town to town. I plan on calling some property management companies in the area to get an idea for the market rents.

I appreciate any and all input!

Thanks for the support guys! I figure the pros definitely out weight the cons.

Thank you all for the responses. I have desided to go ahead and get my lisence.
Wish me luck!