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All Forum Posts by: Account Closed

Account Closed has started 5 posts and replied 643 times.

Post: How Illegal Additions Can Affect Buyer's Ability to Purchase

Account ClosedPosted
  • Contractor
  • Raleigh, NC
  • Posts 651
  • Votes 510

What exactly makes it an "illegal addition"?  Is it that it was built with a permit?  Are there boundary issues?   Did you have a survey done?  Matt's advice is good. 

Post: How Illegal Additions Can Affect Buyer's Ability to Purchase

Account ClosedPosted
  • Contractor
  • Raleigh, NC
  • Posts 651
  • Votes 510

This may sound harsh but: You should have taken this into account when you purchased the property.  Now it's your problem. You either fix the addition correctly or tear it down. Your "profit" is irrelevant; you have to do what's right. If you can't afford to do that, then you shouldn't be in the business of flipping house. 

Post: Managing a Contractor/Partner in a Fix and Flip

Account ClosedPosted
  • Contractor
  • Raleigh, NC
  • Posts 651
  • Votes 510

In reading this thread, I think you have larger problems than just if your partner is overcharging you $200

You wrote that the house was built in the 1800's and needed major, "never ending" work, so it's surprising to see that you've only had to spend $8,000.00 so far and are already over budget. What is the extent of the work and what was your budget?

Also, if he is "acting as the GC", hiring people and overseeing their work, then that is "work". If he's paying these guys cash, you still need receipts, etc. Are you not going to file 1099's for them or deduct these expenses from your taxes?  Do they have insurance, etc. Did you procure the proper building permits? What if someone gets injured on your jobsite?  Do you have that covered?

I'm sorry but it doesn't seem that you are properly set-up to be doing a project like this and you are exposing yourself to a lot of risk.  As a practical matter, to control what he spends, why don't you pay the guys directly? 

Post: North Carolina newbie!

Account ClosedPosted
  • Contractor
  • Raleigh, NC
  • Posts 651
  • Votes 510

@Corey Edmonds 

Welcome to BP!

Post: Managing a Contractor/Partner in a Fix and Flip

Account ClosedPosted
  • Contractor
  • Raleigh, NC
  • Posts 651
  • Votes 510

@Ember Meadows 

It doesn't help that you chose such a difficult project as your first.  The bottom line though is: either you trust this guy as your partner, or you don't.  If the latter, then you need to try to sever that relationship and find someone you do trust.  Where is your original partner?

Post: Is there a way to be anonymous, totally, when becoming a landlord?

Account ClosedPosted
  • Contractor
  • Raleigh, NC
  • Posts 651
  • Votes 510

@Andrea Jones 

Can we assume that "Andrea Jones" is not your real name?!  :)

Post: Cutting granite to size?

Account ClosedPosted
  • Contractor
  • Raleigh, NC
  • Posts 651
  • Votes 510

@Dawn Anastasi 

I guess I misunderstood.  What are "bench tops" then?  I've never heard that term. 

Post: Is There a Way to Not Attend Closings with End-Buyers?

Account ClosedPosted
  • Contractor
  • Raleigh, NC
  • Posts 651
  • Votes 510

Personally, I enjoy going to the closing to meet the buyers. It gives me a chance to answer any questions and wish them well. 

Post: Is it safe for a young female to be a wholesaler?

Account ClosedPosted
  • Contractor
  • Raleigh, NC
  • Posts 651
  • Votes 510

@Account Closed 

I understand your concerns and you're wise to have them.  Though the chances of being attacked are low, they are real...it happens all the time. Why not have a friend accompany you...even if they just wait in the car?  You might also consider carrying a weapon (legally, of course). The best protection though is being alert and mentally prepared. Always have a mental plan of defense (counter-attack!) or flight. 

You were quick to assert yourself when you felt 'attacked' here. Though I don't think the other posters meant any harm, it does show that you are willing to 'go to war' when provoked. Having that 'warrior mentality' in the field will help you. 

Post: Cutting granite to size?

Account ClosedPosted
  • Contractor
  • Raleigh, NC
  • Posts 651
  • Votes 510

@Nat C. 

 I can well understand why your contractor is reticent about doing it. Cutting and installing granite countertops is a specialty trade requiring specialized tools and equipment. I'd hire it out as Jon and others have suggested.