All Forum Posts by: Tucker McCarthy

Or Franklin Savings Bank is up that way they do commercial lending

Hi Bradley Adams you could try Lake Sunapee bank I'm not sure if they have a branch up that way but I know someone that uses them as a portfolio lender in NH

Hey @Nick Noon

Great story and show of persistence! This was really inspiring to me. I've wondered about the seller carryback and whether banks allowed that these days, I've read things recently about how that was a thing of the past but clearly not!

I've been on a real estate high ever since joining BP back in February too, getting ready to close on my first deal, a house-hack duplex at the end of the month. Can't wait to get rolling full time after I close!

Found it really interesting that you invest in Southern NH and live in Chelmsford, MA, and I live/invest in Southern NH but work in Chelmsford, MA! Would be great if we could meet up for lunch or something sometime. I'd love to hear which areas of Manchester you guys purchased those properties in, Manchester was an area I was honestly going to stay away from.

Hi Denise, I don't know Franklin that well but I do know a few people that live there and have spent a little bit of time up there. It's a pretty depressed area, there isn't much for industry or jobs I don't think. It's also not really close to any large cities or areas where there is industry. I'm not sure what the rentals you're using as comps look like, they could be very run down and gross which is why they aren't renting, perhaps your property would be much nicer. Again, I don't know a ton about that area but that's my first gut reaction!

Definitely be careful with certain areas of ManchGanistan, I would definitely look at some crime history and drive the neighborhoods before you buy. You can have a nice block next to a bad block next to a nice block, so on. To be honest Auburn and Lake are not the greatest areas, neither is Merrimack. Not to say there aren't good deals to be found in those areas, if you do invest be very careful with screening tenants. Personally, I would stay out of the downtown area and look on either the north of southeast side of Manch. Best of luck to you, let us know how it goes!

@Logan Allec thanks Logan! That's a little reassuring, my agent has lots of rentals and is a property manager (she has over 1,000 units) and said she doesn't think she's ever had that issue. Makes me a little nervous having my family and two young boys there! Not planning to stay long but still.

Have to think that people can change and it occurred over 20 years ago... Not sure, have to think on it some more. Hopefully can get more feedback from other people!

Hi everyone, new to BiggerPockets and looking to close my first deal! I'm submitting an offer on a duplex and my real estate agent just told me that it would be wise for me to check the sex offenders list. Long story short, a guy that had a conviction in 1991 just bought a house one house over from the property I'm looking at. I'm not so worried as much for when my family is living in the property, but has anyone had issues with tenants not wanting to rent units based on issues pertaining to this? I'm thinking long term when I move out and own this as an investment property. Thanks!

I'm not sure if she would be an expert specifically in this field, but my agent in Milford is very experienced in working with investors, she's an investor herself, so is her dad. She's also an agent and property manager (she manages 1,000 units). I know she's worked through bank owned and foreclosures for clients before and has some good knowledge. I can pass along her information if you'd like.

I'm in the same situation. My plan is to find some people that have cash and are interested in REI to partner with and continue my knowledge. I've found in just the past few months in just talking to people about wanting to get into real estate that people have cash and the desire but not the expertise. People are willing to partner with me even though I don't have much cash because I have the ability to navigate them through the process better than they ever would be able to. We'll see how this goes but that's my plan. All about finding the right deal first!