All Forum Posts by: Account Closed

Hello everyone!

I am interested to hear how everyone insures their remodel and build projects. Do you have an umbrella policy, builder's risk, vacant home, something else? If there is already a thread on this, would you please post here?

Hello!

We are flipping a home and realized we did not get any insurance on it. We are half way through (addition is framed, drywall is up) and cannot get any type of builder's risk or even general liability. Does anyone have guidance or advice they can offer? Obviously we should have had it in the first place, but I'd like to figure out a solution if possible...

Chris

Hello,

I was told to get my 'seller's permit' for CA to purchase materials at 'wholesale' cost for my flips. I'm trying to figure out how this works but am having trouble finding here on BP and google. Does anyone on here use a license or purchase through someone with a license to acquire materials at a discounted price?

Would love to learn more about this and how to get competitive pricing from some bigger name companies...

Best,

Chris

Yes but there was no clause or even discussion about this. Kind of a unique situation - a lot more time consuming than a severed pipe or downed tree for example. 

Hello,

I am finishing up a flip in the Sacramento area that has been from hell. We finally finished everything inside and began the landscaping. 

My landscape contractor was to do the front and back yard entirely - there was no irrigation or electrical outside at all. 

During our first walk through I told them I wanted sod just off the back patio and stressed that there was a septic system where the sod would be. He said no problem, they’ve done it before. 

When trenching for irrigation, they damaged the septic system significantly. He tried to patch it but I had 4 companies out to determine the amount of damage and was told it would need replaced. This process would take 4-6 weeks at best. 

My question is - can I charge him the holding costs from when he broke the tank to the completion of his work?

This happened on dec 6 and I’m being told the install would be January 25-30 depending on weather. That’s two months worth of hold times where I could have been on the market by the 10th of dec, which we planned for initially. 

Please let me know your thoughts or if I can provide any more information. 

C

Thank you for the input Jonathan. I'd really like to understand the process in planning these developments and the pros and cons that others have found regarding PUD's. This may not be the right forum to do so but I appreciate your feedback.

Does anyone else have any insight or experience they could share on the topic?

Hello!

We flip and rent homes in the Orange County area - mainly Newport Beach, Costa Mesa, and Irvine areas.

I'm seeing more and more PUD's going in and I'm wondering if anyone on here has any experience with these developments (planning, developing, selling, etc.). While they seem like a lot of work from planning, development and working with the city, they look like a great investment opportunity assuming you have the cash on hand to do so.

If you've worked on a PUD or know about them, please comment and share your experiences and/or knowledge!

Thanks,

Chris

Hi everyone,

I'm getting ready to rent my first investment property here in Newport Beach, CA. I'm the landlord and am using a property manager while I learn the ropes and finish school. We've gotten a ton of interest in the place and it looks like we'll be ready to go here shortly. The home is in a highly sought after neighborhood with a fairly high asking price for rent.

I had a couple of questions and hoped someone on here would have an answer or give some insight.

First, do you believe the landlord (me) should interview or meet tenants prior to everything being signed? What are the pros/cons to this? What are some things to ask or look out for?

Second, besides conducting background/credit checks and checking references, are there any other things you'd do to ensure you get a good tenant? Anything special that you ask your prospective tenants? 

Lastly, I have a pretty extensive 'rules' list - not only to make it easy to terminate a lease with a pesky tenant but to preserve the property. Is this a good thing or can this bite me in the *** in the long run?

I appreciate any advice or insight!

CE