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Updated over 1 year ago on . Most recent reply

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Lor Fara
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My first flip, who should buy materials?

Lor Fara
Posted

Hi, just went in escrow for my first flip. 

 I’ll work with small teams by area as opposed to one GC.   Should I ask the contractor quotes for floors, paint, landscape to include materials?   Some are saying I should get it.  I don’t have a truck so for some stuff not an option. 
Also if the receipts are in their name will I be able to deduct them as an expense?   thank you. 

  • Lor Fara
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    Quote from @Lor Fara:

    Hi, just went in escrow for my first flip. 

     I’ll work with small teams by area as opposed to one GC.   Should I ask the contractor quotes for floors, paint, landscape to include materials?   Some are saying I should get it.  I don’t have a truck so for some stuff not an option. 
    Also if the receipts are in their name will I be able to deduct them as an expense?   thank you. 


     there is nothing right or wrong here, it depends on business model.
    For me my contractor is like a family so I trust him completely, I just reimbursed what he bought for material immediately after he purchased at HD,etc.

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