All Forum Posts by: Justin Traver

I will take a look at the contract, but the issue is the contractor needs 30k to finish.  I have paid the full price we agreed on.  This is beyond frustrating and I feel like switching contractor would cost a lot more money.  

I was wondering who is responsible if a contractor goes almost 30k over their bid.  They are saying that I am responsible for the extra 30k.  Just a side note this rehab has taken over 10 months and it's not even close to finished.  It has turned into a nightmare.  

I am about to purchase my second duplex and am wondering if I need an LLC for every house I am going to buy. Talked to an Attorney and he said I need a holding company which will oversee the other sub LLC's. He also recommended having one holding company that owns all the houses and have a large umbrella insurance policy instead of sub LLC'S. The con of multiple LLC's is the yearly fee for each of them. Should I be thinking about this as which costs more annually (I hope to have 10 rentals some day) or which one do you recommend? Final question, I am paying $280/hr for this Attorney, is this reasonable?