All Forum Posts by: Stephen Polizzi

@Joes Juan Hey man, this girl saved my bacon on a flip this year. Found a policy for our buyer that was THOUSANDS less than the .gov quotes (now that subsidies are gone). Would have lost the deal without her. Give her a call.

Jessica St. Amand

Cross Insurance, Manchester

Increase income, decrease expenses, or invest less cash.

@Jim Froehlich Agreed on NHDeeds.  I'm in Merrimack county, the only county in NH I believe not on that abysmal site. It's neither user-friendly nor affordable.

Wow and I thought auctions were dicey BEFORE finding this out.  How common is this?  Are there certain kinds of liens to be especially careful of? Is there any recourse/protection at all? Is there any room to negotiate or does the lien-holder have the auction winner completely over a barrel?

Following

I went down to the courthouse in Merrimack county to inquire about this and had no luck. They had no idea what I was talking about, didn't seem to be possible. They suggested I contact Landlord Connection which I guess is a service for Landlords to check tenant history, not at all what I was looking for.  This furthered my sense that they had no idea what I wanted and therefore wouldn't be helpful in providing it.  If you get anywhere, please let me know!

 Manchester/Concord 

Looking for a reasonable and reliable flooring contractor in NH.  Hardwood refinishing and installs and also carpeting.  Doesn't have to be the same person. Thanks!

Builder's Risk is what you're looking for, is easy to obtain, and is sold in 6 or 12 month increments. Premiums are based on initial value, repairs needed, and ARV... I generally pay 700ish for a 6 month policy. It's a big hit, but like any other insurance policy, it sucks to pay for something you're "not using", but if you ever need it, it will be catastrophic to not have it. I figure it's the cost of doing business since if my 50k-150k house burns down with no coverage on it, I could effectively be out of business. I price it into my rehab budget from the outset.

My company also carries a liability policy which gets each property added to it when when we purchase and removed when we sell (no change in premium).  Your liability picture will be specific to your company and operations, so you'll need to discuss that with an agent.

PM me if you need an agent in NH, I have one I'd recommend.  Not local to you, but in NH and everything can be done by phone/email anyway.  

Sucks, but I agree that since the actual losses will likely be minimal it isn't worth investing energy into...consider it part of the lifelong education and experience and also possible that you dodged a bullet by hanging onto a dissatisfied tenant against their wishes.