All Forum Posts by: Manolo D.

 If no material up front, he doesn’t have any cost incurred to date, major red flag there to ask 40%. I would suggest a sign up fee no more than $1000 or no more than 10%, whichever is lower. You can decide to pay him weekly on progressed work, but that’s just a headache, maybe milestone is best protection, or at least bldg inspection sign offs if you have that.

 He might love the headache. I’ll allow this, ill receive the materials at ground level, tell them what to buy and charge them for delays if they buy the wrong product or materials don’t arrive on time. more like time nd material contract, any issues, their fault and pay up. 😇 i might be too nice with people penny pinching. pretty sure they can’t beat my 35-65% off shelf price though, but they can spend however much money they want, not my money not my problem.

Hello, long time member here but company got too busy so i didn't contribute for a while. I'm here because I found bp to be a great resource. I'm here because I am at a point where I need to find a line of credit product where a company owns (or will own in my case) a piece of asset (real estate or another) and back it as collateral for the LOC. I do prefer that this loan be solely be qualified via the company, as i have plans on the personal side in the near future.

Any advice is gladly appreciated.

 It’s not your business, you can’t tell other people how to run theirs. How about if other people tell you how to spend your money? How would you feel about that? lol. what a joke.

@Christine Lai I’ve had great luck with calling supply houses to connect with a tradesman. Don’t think about LEED, it’s like asking for bids to do a metal gate at your house and you want their shop to be ISO certified.

@Frank Maratta You dont seem to know the horrors of the contracting world. All the horrors of claims on 1099 vs employee has occurred, more than a dozen fold. We as contractors see it all the time, it’s not a pigment of an imagination, they are stories that occur day in and day out. It is not a question of IF it will happen to you, it is a question of WHEN it will happen.

@Matt Romme You’re overthinking it. Contractors mostly want to get a job done and move to the next. Tbh, investors are the lowest paying clients, contractors might be busy catering them, but that’s only applicable to 2 guys and a truck kinda. Other forms are just investor with a contractors license and crew. Haven’t seen a group chug on one remodel company. Not saying it’s not possible.

@Steven Wilging Your situation is very easy, you can blue tape all the poor work, give the contractor a chance to finish it (in CA, this is a requirement - to extend and exhaust all possibilities before arbitration). Ask for UNCONDITIONAL lien waivers from all his subs together with a letter certifying that all his subs are being paid, a CONDITIONAL waiver from him. Now with regards to him not finishing the job and/or correction of unfinished work, get someone to give you a price to finish/correct the remaining work, and deduct it to his contract. If the original contract is 20k and your new contractor to finish the work gives you a 5k bid, the older contractor will only get 15k. Check your bond law and call his bond company. You have an empty threat. When you file a claim, stick to the facts, not heresay, you mentioned he tried to file a claim on the insurance company from his subcon, if you don’t have proof of this, don’t even mention, ultimately, it’s his fault.

@Natalie Schanne I like it, i do hate the fact that it will show up on credit report as hard inq. My credit score is spotless with 0 late payments and 1-2 hard inquiries, if I apply for a rental and they’re all hard inq, i will not be happy. Some

say they’re doing a soft inquiry, not true in some cases, makes you question why.