All Forum Posts by: Shane Cloutier

One of the biggest problems the northern end of the state is having is a lack of competition in the property management department. NH's laws make it difficult for us to expand that market so make sure you shop around before you invest or you may find yourself having to manage the property, or clean up the mess left by poor managers. 

@Fahadbin Alam I agree with everyone above about changing the rent that much is going to push out your renter and if you have a reliable paying renter right now you have pure gold. Now since you want to improve the property for a brrrr and would like to increase the rent. First I'd tell the renter you have plans to improve the property and ask if the renter could handle a moderate increase, as was suggested maybe only 200$. Tell them you are ready to help them through the process and make sure to be as helpful as possible. Renting temp storage and hiring people to move their stuff out and back in for instance. Talk over the possibilities with a contactor or designer and use that list for the questions for the renter. Here is an old trick ask people to choose between two options (second bathroom or opening up the kitchen and living area). This keeps people from having to come up with their own idea as well as makes it clear yes the house is going to have work done on it but they feel in control due to choosing what work. Don't forget to throw in just freshening up the color scheme as something you are doing (paint gives you a lot of bang for your buck) as well as replacing the flooring if it isn't new(removing rugs and putting in LVP is a big win). 

@Rubin Thomas hello from another out of state investor! We have been working with many of the BP investors in Ohio, most are in here answering you.  I know the criteria you put up fits well with some of what we have been seeing in Toledo.  I think @Dave Poeppelmeier will also agree that some of Maumee might fit that as it is a suburb of Toledo. We are networking with one of his co-workers @Mike Mocek. I hope we get to work with you soon, take care and good hunting to you!

@Ruben Correa Toledo as others above me have mentioned is a good area for this. We are working with several other BP members in that area as long distance investors. The fact that Ohio and Toledo were mentioned you can bet their alerts are going off, lol.

@Kate Barry sorry to get off of topic. As we have said before if you want to chat any time we are always around to talk. I want to make sure you keep going. Good hunting to you!

@Kate Barry We are hoping to eventually move out of the house we own and move into year long leases. We like the idea of being more mobile/flexible. We plan to use monthly rentals in other states to visit family during the winter. 

I know one of the problems is lack of skilled labor. I'm in northern New Hampshire, it is not easy to find electricians, plumbers or even GCs with free time. One GC I talked with is backed up for two years on projects. My personal plumber stopped working on bathrooms and we have yet to find one who is local to replace him. They do not even take calls from new customers due to their backlog of work as well as working on projects for larger commercial projects. Took me two weeks to get an electrician to fix a bad outlet that killed a kitchen's power. The state is trying to build a new liquor store in Littleton, and with the winter being as mild as it is I would expect them to be much further along then they are. That might not be due to a lack of workers, but I would not be surprised if it is. 

Like @Jessica Stevenson said many of the contractors we have networked with are backed up. One of them has projects in queue for two years. 

Not an attorney but a member of the SBA in NH helped with filling out the paperwork for my old LLC for my video game company. I do agree that you should at least once have a lawyer help you through the process. But once you have that advice I do not see why you can not follow the same advice and fill out the application online yourself.

@Kate Barry in my opinion, one of the biggest flaws that entrepreneurs in all fields have is trying to do too much themselves. If you can create a system for your process you can bring in someone to help you that can follow your system. With them following the path you setup you can easily check in on them and see if they are on the right path as well as being able to help without to much hassle. The process of setting up a system will also increase your efficiency in your own work.