All Forum Posts by: Daniil Grinchak

Hi all, 

Was not able to locate a topic on this. I get different opinions from insurance agents on what kind of insurance one would require for someone who is a general contractor that builds homes for sale. I build for sale, so I don't build for a specific customer. No remodeling is involved. 

Some agents said and quoted every trade for me which makes my premium unreasonable. Some say that you only need general liability. 

Wanted to get an opinion from someone here. I acquire a lot and build the house then I put it up for sale, this is what I do. I do require all of my subcontractors to have liability insurance. Any help will be appreciated.

Thank you.

Thank you all for your input and I am reaching out to local CPA to get more details.

Thank you all for you input. I do appreciate it. 

@Jay Hinrichs I have been told that there are legal ways to reinvest all of the profits back in to the next project/house without being taxed on it, is that true in anyway? Not looking for way to avoid tax but since I just started building homes, I am reinvesting all funds to next house. Thank you

Hi All,

I am looking for an experienced tax CPA in Charlotte, NC area. I have questions around taxes for new construction that I will be selling soon. I have searched through BP but still not confident on what I need to do so looking for local advice from CPA. 

I started to build new homes and planning to sell them and not hold them for long term. Looking for a proper way to reinvest funds into the next project. I have been told that there are way to reinvest into next project with out being taxed on the profit but looking for advice. 

If you know anyone and can recommend please let me know. 

Thank you in advance. 

Thank you for your reply.

Hi all, 

I have purchased a lot in Union County, NC to build a new house. 

I still have not received a title and it has been over a month. Who is keeping it and will I get it? Lot was purchased in cash. 

Thank you