All Forum Posts by: Bryan R.

http://www.lni.wa.gov/TradesLicensing/Contractors/HowReg/Register.asp

Contractor insurance and bonding is a pretty widely available product, just shop around a bit. Make sure you have adequate coverage. 

Once you have insurance in place just need to fill out some paperwork and submit to LNI.

A thread that may interest you: 

https://www.biggerpockets.com/forums/67/topics/359...

Like J said - inspectors are generally not too happy when they catch you doing unpermitted work. Best you can do at this point is mea culpa it and jump through all the hoops. Probably for the best, you don't really want to be on the hook for a house with illegal electrical work and basement conversion.

Lots of good info at tacomapermits.org, particularly check out the tip sheet on basement conversions.

http://tacomapermits.org/wp-content/uploads/2015/07/B-205-Basement-Conversion.pdf

and

http://tacomapermits.org/getting-started/faqs

Many jurisdictions will want you to get a business license. For example if you flip a house in Tacoma you need to get a Tacoma business license.

Due to excise tax costs double closing is not common in Washington. Most wholesalers just assign contract.

Make sure to familiarize yourself with RCW 61.34

Thread on the topic:

https://www.biggerpockets.com/forums/67/topics/355976-mistakes-i-made-in-construction-this-year

@Natalie Kolodij

Best part of that listing:

"Freddie Mac first look (no investment purchase first 20 days)"

@Tim West

Provided your numbers are correct they are okish deals. Deal 1 is pretty skinny with a 55k spread. Deal 2 is a little better. 

Agree that rehab numbers sound pretty light for a full rehab. You'd be better off line iteming out the rehab expenses to generate an estimate vs any sort of sqft based estimate. 

@Ashley Abramson

I'm not sure us making suggestions is going satisfy the buyer for your 35R response. "The internet suggested we do the following..."

My feeling in these situations that it is generally best just to pay the structural engineer. He will issue a stamped report. That makes everyone feel good and gives an easy 35R path.

Alternatively you could offer to have a foundation company (Robbins and Co., etc..) evaluate and repair. That may work too.

@Ashley Abramson

Maybe if you have a easy buyer you could bypass the engineer and just have your GC go in and make repairs. But you're asking us to tell you what to do which suggests maybe this isn't your GCs area of expertise? And again from a future liability standpoint I don't like that plan. Best to just pay the engineer.

@Ashley Abramson

Agree with the others. Unlikely at this point that the buyer would accept you just doing something without documentation. Also probably not good for you from a liability stand point. Best to hire a structural engineer. They will come out and evaluate. Based on that recommendation you can negotiate with Buyer and then hire a licensed GC to execute based on the plan of action.