All Forum Posts by: Rao V.

I agree. 

I think I don't need W9 or 1099 because I signed a contract.

His insurance comp gave me letter when we started. Do I need to get it again?

For worker comp, he asked me to check the LNI website. If I ask him again he will refer me LNI. What specifically do I need

Also where can I find contractor lien waiver form

Hi,

I am looking for a GC Contractor in Seattle for flip project. Please recommend GC who work with investors/Flippers.

Hi,

I completed my first flip and made some money. I am happy it all worked out well. Now I want to know what paper work do I need from contractor before I pay him the remaining amount. So far I have paid him in checks or some material from home depot.

Is it enough to write down all payments/material provided to the contractor and have him sign and acknowledge that all this is received? I just want to make sure he does not come back and claim that he never received those material. should I ask him sign individual home depot receipts?

He is a licensed GC and contract was with his business. Do I need an invoice from him or 1099?

Thanks

Hi,

I completed my first flip and made some money. I am happy it all worked out well. Now I want to know what paper work do I need from contractor before I pay him the remaining amount. So far I have paid him in checks or some material from home depot.

Is it enough to write down all payments/material provided to the contractor and have him sign and acknowledge that all this is received? I just want to make sure he does not come back and claim that he never received those material. should I ask him sign individual home depot receipts?

He is a licensed GC and contract was with his business. Do I need an invoice from him or 1099?

Thanks

Hi,

Last year I bought a house without appraisal. It was listed as a 3/2 SFH and 1120 sqft. Now when it tried to refinance the house their appraisal came at 760 sqft only. At the time I made a mistake to not check the tax records which shows the same. basically there is some addition in the back which is probably not permitted.

What are my options. Can I flip it as a 1120 sqft house? Do I need to demo the addition? Can I go after the seller. In my contract there is no mention of sqft. please help.

I have hired a general contractor who has brought 3 person to help him with my remodel project. What should I do to make sure I am not liable for any injury to him or his worker.

I already check and he has the worker comp on the LNI(labor and industry) website. what I don't know does each of the 3 workers need to be listed on LNI?

Is it always 50/50 or you adjust based on amount of labor? Lets say you have 2 projects. One needs 400 hrs of labor and another one needs 700 hrs. would your contractor do both for 50/50?

Hi,

So I have a contractor who is willing to take the last 20% payment after the house is sold. 80% or so will paid weekly on milestone basis. The project will take appx 6-7 weeks max. 

The situation is that I have a house under contract and I can only arrange 80% of the bid and that's why I asked him can he wait till the house is sold. He agreed as we both know it is a hot area and house will sell in a month.

And even if house does not sell by that time I will have additional 20% as well. My question is what should be putting in contract incase things go sideways. What should I be concerned about. liens? etc.

Thanks in advance