Flipping Houses In New Hampshire

How To Flip Houses In New Hampshire

November 23, 2023

Produced by:
Richard Stevens

Richard Stevens is an active real estate investor with over 8 years of industry experience. He specializes in researching topics that appeal to real estate investors and building calculators that can help property investors understand the expected costs and returns when executing real estate deals.

Although it has a relatively small population of less than 1.5 million people, New Hampshire has a stable real estate market that some house flippers are taking advantage of. 

Overall, home values in New Hampshire are quite high, the education levels are excellent and there are a number of towns with exceptionally high safety ratings. Now let’s take a more detailed look at how to flip houses in New Hampshire.

New Hampshire House Flipping Stats

Median Purchase Price

$201,610

Median Resale Price

$308,510

Average Revenue

$97,900

Price Per Square Foot

$175

New Hampshire Population

1,359,711

Median Household Income

$74,057

High School Graduation

92,9%

Travel Time To Work

27 Mins

Best Cities for Flipping Houses In New Hampshire

  1. Manchester
  2. Nashua
  3. Concord
  4. Derry
  5. Dover

Safest Areas In New Hampshire

  1. Hanover – Safety Score: 93.33
  2. Exeter – Safety Score: 91.93
  3. Durham – Safety Score: 91.85
  4. Windham – Safety Score: 90.80
  5. Merrimack – Safety Score: 89.05

Please note – All the statistics in this article are based on 2020 data. You can view the data sources at the bottom of the article.

The Basics Of Flipping Houses In New Hampshire

  • Find a property in New Hampshire that is undervalued
  • Source funding from a reputable lender
  • Buy the property for a price that makes it possible to generate profit when it is resold
  • Complete renovations that will increase the after repair value
  • Find buyers for the property and sell it for a healthy profit margin

How To Find Houses To Flip In New Hampshire

1. Use FlipScout By New Silver

FlipScout is a free tool that helps you find most profitable real estate investments using data and intelligence. Find a property to flip or rent out anywhere in the country.

2. Leverage The Power of Wholesalers

Finding a good wholesaler can be very rewarding for a property flipper. Wholesalers tend to have access to all the most relevant property databases, and they often have unique personal networks. By using a wholesaler, you effectively gain inside access to their knowledge of properties in New Hampshire.

3. Attend Bank Auctions

Bank auctions often present opportunities to purchase properties below their market value. This is mainly because banks hold these auctions in order to sell the properties as fast as possible. If you attend bank auctions with a clearly defined strategy, you can potentially walk away with a new property that fits in perfectly with your investment portfolio.

4. Use Direct Mail To Find Off-Market Properties

Although it is considered an old school technique, direct mail can still yield positive results for house flippers. Direct mail has been shown to have a higher response rate than email, and numerous studies have shown that people actually enjoy checking their mailboxes. More importantly, you might be surprised by how many people have considered selling their homes. Your letter could be the trigger that they have been waiting for.

5. Sign Up To The Multiple Listing Service (MLS)

Even though MLS listings can be competitive, it is still a good avenue for finding properties to flip. The MLS is literally a database created by real estate agents, and it is filled with property details and statistics that can help aid your research process. There is a fee involved, but one deal is all you need to comfortably cover the costs.

6. Find Foreclosures

When properties fall into foreclosure, the primary goal of the loan originator is to recoup any potential losses. This is good news for house flippers, because properties in foreclosure often sell for less than their market value. If you are able to locate foreclosure opportunities in New Hampshire, there’s a good chance you will be able to purchase a property for less than its market value. This is why foreclosure can serve as a great platform for a potential flip.

New Hampshire Housing Market Analysis

House Flippers Are Choosing Mid Range Properties: There is a small gap between median home value in New Hampshire ($326,588) and the median resale price for house flips in New Hampshire ($308,510). This indicates that house flippers are selecting properties in reasonably good areas, while keeping affordability front of mind. On this point, following the 70% rule is always a good guideline when deciding how much to pay for an investment property that you are hoping to flip. 

The Revenue Per Flip Is High: The median revenue per flip in the US is just over $61,000. In New Hampshire, this figure jumps up to $97,900. While this number is considerably higher than other areas in the US, you still need to pay attention to your renovation budget and project timelines. If you aren’t able to complete the flip on time, it could negatively impact your net profit. Naturally this is something you want to avoid at all costs. 

Home Values Appreciated By 11.4%: According to Zillow, home values in New Hampshire appreciated by 11.2% over the last year. Moreover, house prices in New Hampshire have been steadily increasing since late 2012.

The large spike in house prices over the last 12 months can be be partially attributed to the economic impact of covid-19. In a bid to stabilize the economy, US interests have been lowered to historically low levels. This has increased the demand for houses in New Hampshire, given how affordable mortgages have become. However, supply has failed to match up with demand, meaning more buyers and less sellers. This tends to increase house prices, and it has clearly done so in New Hampshire.

Homes In New Hampshire Are More Expensive Than The National Average: The median home value in New Hampshire is $326,588. This is considerably more than the median home value in the United States, which is approximately $266,222. 

The relatively expensive cost of homes in New Hampshire means that this particular market might be better suited to experienced property investors. The capital requirements are greater than other areas in the US. By the same token, the potential profit is also higher, and this elevated risk vs reward balance may attract house flippers from around the country.

Apply For An Investment Property Loan

If you’re ready to start your house flipping journey, New Silver Lending can provide the capital you need to fund your first flip. We offer ultra fast hard money loans with competitive interest rates and quick closing times. The entire application can be completed in less than 10 minutes.

Next Steps

If you’re committed to flipping houses in New Hampshire, the next step is to invest time and energy into finding the best possible property. We have outlined a number of methods in this post, and all of them can potentially bear fruit. 

Once you have identified a property, using a reputable Hard Money lender like New Silver can help accelerate the house flipping process. Our company is built on speed, efficiency and user-friendly technology. The online application can be completed in less than 10 minutes, and we offer instant proof of funds letters to all of our clients.

Property Flipping Resources

Hard Money Loan Calculator: Analyze the costs of your next flip in detail with our hard money calculator.

ARV Calculator: Workout the After Repair Value of the property that you are hoping to flip.

Resources Used In This Post

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