All Forum Posts by: Tucker McCarthy

You no longer can do USDA loans for multi-families, I just bought an owner occupied duplex in June (in a Town that allows USDA) and I had to go with an FHA loan

Hi Steve, happy to give you some recommendations for a surveyor/engineer. Send me a direct message and I can get you some names.

@Steve S. I definitely know a lot of good local ones that I can suggest, I'd be happy to give you some recommendations if you'd like. Don't hesitate to ask.

If the lot has already been created, it is considered "existing non-conforming". To my understanding, you would be allowed to build on this lot as long as you met the required building setbacks in the zone. Because the lot has already been created, you shouldn't have any problem with the minimum 2 acre requirement. 

You want to speak with someone in the planning department at the City to get better information, but from what I know, you should be all set. You may still have to go to the Planning Board to get an approved site plan for the house though and would need to hire a surveyor and engineer to survey the lot and prepare a boundary plan and proposed site plan for the property. Not talking a lot of money though, probably in the $10K or less range depending on the complexity.

Google search "New Hampshire Purchase and Sales Agreement" and you should be able to find a copy of it. 

Yeah good luck getting clear answers from the City of Manchester lol they can be a difficult group to deal with. The person you really need to talk to is Mike Landry who is a wicked nice guy but hard to get a hold of. The biggest difficulty I always had with the Planning and Zoning staff was just getting them on the phone.

Hi @Axel Ragnarsson,

Assuming you're looking in the Manchester area, John Cronin with Cronin, Bisson and Zalinsky is the best attorney in that area. I bet he probably isn't cheap, but if you look at any Zoning Board of Appeals meeting minutes in the City of Manchester, he represents 75% of the cases (exaggeration, but it's a lot). I've done a lot of projects with him professionally and he's really good at what he does.

If you have any generic questions about zoning in Manchester, I'd be happy to help out if I can. I don't know a lot of building code questions but I know regulations and zoning in Manchester/NH very well.

Tucker

I would agree these are some of the best town/cities in NH! They certainly rank high on this list.

http://www.nh1.com/news/these-communities-are-among-the-100-best-places-to-live-in-nh/

Hi @Rick M. I don't know a lot about new construction since I haven't done any myself (I am a civil site engineer so I do new construction developments for multifamily housing all the time) but a lot of the new construction going on in NH is higher end SFH and large apartment complexes. I think it's because the cost of construction is high so in order to get a rate of return, you have to build expensive houses or buildings with a lot of units.

I would have to respectfully disagree with @Mike Duran about those being trailer park towns that you mentioned. Rye would be very difficult to build in because it is very wealthy and I don't think zoning allows for much multifamily. If you could build a 4-unit there it would have a huge demand. Portsmouth is similar to Rye but zoning would probably be a lot more feasible. Durham is where UNH is located and I know they have been trying to crack down on multifamily construction because there has been a ton lately, you would probably have an impossible time finding affordable land. Dover used to be known at the "Dirty D" when I was at UNH, but it has been making a turnaround lately. Newmarket might not be a bad market, it's more rural but a lot of UNH students live there because it is much cheaper rent than in Durham. 

I'm certainly not an expert in these areas and I am admittedly new to investing, but I lived in Durham/Rye for 5 years and that's my two cents about that area, hope it was helpful!

Hi @Hannah Woodward!

I'm a new investor in Milford, NH, not that far from you! I know we aren't actually that close, and I'm not sure if she works out your way a lot, but Andrea Kokko with Kokko Realty in Milford, NH is fantastic. She's an investor herself and also has a large property management company. If she can't help you out she might be able to point you in the direction of someone who can!

Tucker