All Forum Posts by: TD Wolf

Thanks @Jonathan Bombaci. Actually just got off the phone with the building commissioner and he said it's a state law that anything over two units (owner occupied or not) requires a licensed contractor. He said there are no exceptions. Either way, it's an investment property and not owner-occupied so I'll likely need to go the route of finding a contractor.

My insurance company is requiring a repair and I'd like to do the work myself; however, according to the city of Gardner, anything over two-units requires a licensed contractor to do the work. Does anyone know if it's possible to get an exemption from this rule? Seems kind of rigid. Have you successfully pulled a permit for a 3+ unit in MA before without a contractor? If not, do you know any reputable, licensed contractors in the Gardner/greater Worcester area?

Thanks!

Welcome! I'd echo what @matthew stanizzi said--start attending some of the meet ups and you'll gain some invaluable insights and make great connections. I'm also an investor in Southern NH and would be happy to talk more if you're interested.

I ended up using Bay State Savings bank. We closed last week. I was also considering GFA and had a good experience working with both lenders. We ended up putting 25% down (so 75% LTV).

Corey, not yet, still looking around. I'll provide an update when I find someone...

I'm looking for a CPA that specializes in real estate in NH. Do you have any recommendations?

We ended up working with two local banks and have been pleased so far with the experience. Will update you after the closing is complete.

You mean in the event that you would need to sell one of your rentals suddenly you want to make sure it can withstand a downturn? With the cash flows we are seeing it would be hard to envision a scenario where, even if the market tanks, we couldn't meet the financing and expenses obligation and still eek out a profit. 

@Antoine Martel can you say more? I am planning 25% down...This is a buy and hold property that cash flows nicely, with value add potential. Rents are pretty much in line with the market right now.

Thanks @Account Closed--that's what I've heard, too, just trying to actually nail one down. Waiting to hear back from one that was offering 75% LTV.