All Forum Posts by: Ryan Saldanha

@Jason Bott

I have a builders risk policy on each of the properties that we flip. However, I am looking for liability insurance/umbrella for the whole flipping business.

I use an independent contractor agreement with a project manager who manages the flip project and handles the subs. If a sub does not have insurance and gets hurt on my property - I am liable. How do I protect myself against that situation?

Thanks

@Jason Bott

I am in Florida and we use one single LLC to buy and flip our homes. What would you recommend for liability insurance in this case?

Just purchased a house that says 1350 square footage on the county appraiser website. House is Actually 1750 ft.² under the roof. It appears there has two rooms added as unpermitted additions. How can I get the county to fix their records without incurring any expense?

@Matt McKinney Can you private message me a referral to your online bookkeeper?

Thanks

I need recommendations of a solid online bookkeeper / CPA to organize my quickbooks.  Someone that is familiar with flips!

Thanks,

@Destiny Holmes

Always welcome and good luck! Remember to only get labor quotes. You supply the materials!

@Destiny Holmes

DO NOT LET the contractor buy the materials! Ask for a labor quote only.

PROS

1) you buy the materials you retain control of the material if the GC walks off the job

2) less money is transacted between you and the GC. you said you’re brand new, right?

- GC asks for 15k for the kitchen upfront and then walks off the job you’re out of 15k

- On the other hand, let’s says it’s 5k in labor for the kitchen, you have decreased the monetary loss if he/ she walks off the job

3) you don’t get any of the benefits of buying in bulk and the GC maybe marking up materials

- set up a Home Depot Pro Xtra account and the GC shops on your behalf and the PRO desk calls you for a credit card over the phone. You know what materials cost and the electronic receipts are automatically sent to your email for tax purposes, etc.

@Sarah Smith

Hey Sarah! I’m looking for a good GC referral

@Jonathan Taylor Smith

Copy do the GC driver’s license is a first! But I like the idea. Thanks!

@Julia Rockwell

Assuming you pre-sell it at the price you want with all the documents protecting you.

Instead of a flipper, you will turn into a custom homebuilder ....because your end buyer will likely stop by the job site 1 to 2 times a week and like any consumer they will change their mind, or perhaps get unhappy or even become upset if finishes, layouts, etc. are not coming to fruition the way they envisioned it.