All Forum Posts by: Wayne V.

I'm also a long time QB user. So long in fact that I was one of the original Beta Testers when it was first being developed by Intuit. I used the Contractor version until I updated to Accountant 2014. I think the biggest differences in the versions, as mentioned, are in the chart of accounts, the reports, and how inventory is handled. The core accounting engine is the same, it's just a matter of what is best for your business profile, and how granular you want your project tracking to be. I'd also suggest taking a short, sanctioned course or two. They're usually around $400 and are helpful in starting out on the right track as you're setting things up. 

Hi Nat,

Rustoleum makes primers for light rust and for heavy rust. I would go over the fence with a very stiff bristled brush, and apply the appropriate primer followed with a Rustoleum top coat. 

Good Luck !!

Just a couple of thoughts on this. If it were only a question of safety and meeting code, than an inspection process, whether a licensed professional or homeowner is doing the work, including mechanical work,should cover it. If it doesn't pass code than impose fines or force a redo with no CO issued until it's right. The onerous part of licensing is the general liability, worker's comp, and other forced overhead we, as general contractors are required to carry, All of which makes us "expensive". I started building in Maine forty-five years ago when having a hammer and a truck qualified you as a builder. For obvious reasons (public safety in high density construction) in NYC where I now build, everything needs to be licensed, permitted, and inspected. It's a pain but I get it. To the point, my opinion is (only my opinion), if it's yours, you should be able to work on it, but it should be required to pass muster with local codes and safety standards for the benefit of the community and an eventual buyer.

Thanks Karyn & Tammy,

Your common suggestion to hire an Architect seems to be the way to go. After working with the NYC Building Department, I thought Portland, would be reasonably straightforward. Silly me. I'll be taking your advice.

Thanks again,

Wayne

Hello,

Does anyone have prior experience with the permitting process in Portland, Maine for a rehab project? If so, how did you approach it, and do you have suggestions that will make it easier and faster?

Thanks,

Wayne

Hi Heath,

The prior posts are worth very serious consideration and investigation. Should it be viable however, this is the process for lowering a basement floor, assuming you are far enough away from your neighbors foundations to meet local codes. The process is called "underpinning" and typically requires a building engineer to draw up a plan and a procedure schedule. Underpinning extends the foundation sidewalls below the existing basement floor and provides a new footer for the extended foundation. The foundation perimeter is divided into segments, usually three or four feet long that will be labeled something like A, B, C, D, E. and then repeated. You dig down under these section in sequence, first doing all of the A's, then the B's, C's, D's, and finally the E's, pouring a new footer and then foundation wall extension for each section allowing it to harden thoroughly before proceeding on to the next set of sections. You stop the new pour a few inches below the bottom of the exiting foundation and allow the concrete to set and cure. The final part of the process is to pack non-shrinking grout into that remaining gap between the new foundation pour and the old foundation wall. The reason for the non-shrinking grout is that if you were to pour your new wall all the way up to the old foundation, the contraction of the newly poured concrete wall as it dried would result in settling of the old foundation and therefore settling of the building, and all the bad stuff that causes. Typically doors and windows will bind, floors get wavy, plaster and drywall crack, and so on. After the underpinning is finished, that basement can be excavated and a new concrete floor poured. I would include in floor radiant heat for comfort if you've made it this far. I think it's obvious that this is an expensive process that definitely should be done by professionals. It will require building permits and in order to get them, Architects, engineers, and Inspectors. 

My guess is that besides the complexity and unrecoverable cost of underpinning, that as Brian mentioned, egress, may be the deal breaker. This might be a good one to pass on unless the numbers support a basic fix and flip.

It might help to think of a highly skilled GC, as you do a hard money lender. They're expensive but if they're good, your project flow will increase as will your profitably. A good GC will be knowledgeable in all of the trades, will be able to choreograph the project increasing efficiency and shortening project time, all of which should ultimately cover his cost. Think of running multiple small projects as running a big job with many work segments. You just can't do it effectively without a GC or at least a good Project Manager.

Hi All,

Where did we leave off? Ah yes, "The Family"  !!

In most cases, there is a seller and there is a buyer, making it a two party deal. Add spouses and it could be four. Initially it appeared in this case that there would be one seller, a widower, and two buyers, me and Sweetie. We had a handshake between the seller, Wally, and the buyer, me, cemented by a purchase offer signed by the three of us. Cool !! Lots of paperwork later we have a closing date which will require a trip to Portland ( Yay, more lobstahs and chowdah) a few signatures, and budda bing, we will own a house in Portland, Maine.

The closing is to be on Monday, so we drive up on the prior Saturday, with bank check in hand. On the way we receive an email message from our realtor, Robert, that he's standing in front of the house, and that there are about ten family members hanging out, but that the house is still full of furniture and no one seems to be loading it in to the non-existent truck.  More of a problem is the fact that one of Wally's daughters, there are nine siblings altogether, hasn't signed off on the sale yet, and that until she does, we can't close. We postpone for a day and Robert let's them know that we're on our way, and that they really need to pull things together on their side. Robert sounds concerned on the phone. 

Fast forward through the week, a Wednesday closing doesn't happen, Thursday doesn't happen, but there is hope that we will close on Friday morning. On the plus side, the contents of the house are diminishing. We are in constant email and phone contact with the various folks on our closing team, and by now we're even getting messages from some of the family members who are  doing their best to assist in moving things along. With ample time to Google, we're learning more about Wally and his family, all of whom it turns out, we are buying the house from, and all of whom have to sign off on the deal. All but one, Sarah, have done so, but in her case, she just can't bring herself to sign the documents because she is overwhelmed with grief at having lost her mother a few years before, and fond memories of all the family gatherings that have taken place in the house over the years. This has been the family homestead for almost sixty years, and it's beginning to dawn on me that there are unexpected emotional complications. We're told that if we can get Sarah's signature by 11:00 AM on Friday morning, we can close in the afternoon, just short of the holiday weekend, which means no business on Monday. Keep in mind that we were supposed to have been home the prior Wednesday, and back to work keeping the balls in the air for my contracting business. With gentle nudging by Richard & Co., Sarah agreed to meet the notary on Friday morning at 10:00 AM, the same time that we are to do a final pre-closing walkthrough at the house. We arrive in the neighborhood at around 9:00 AM and decide to do a slow drive-by to see what is going on at the house. We're pretty incognito at this point as we think they won't remember the car, and we'll pull our baseball caps down :-) What we see, unobserved, is a dark haired woman clinging to and crying at the gate. We figure this must be Sarah, with lots of family members and friends still milling about, and Wally sitting in his customary chair in the front yard, looking as happy as a clam, surrounded by family. You would have thought it was Thanksgiving.

We take a table at our by now favorite neighborhood café, order coffee, and call Robert with our report. He seems only slightly ruffled and tells us that Sarah was supposed to have gone to the their office to sign the documents, but that she decided to go to the house instead. Fear not, they have sent someone to snatch her up as she doesn't drive. The clock continues ticking !! At 10:00 AM sharp I walk the half block to the house, thinking that low key is the way to approach the situation. Sweetie will hang back until I call with the coast is clear. I'm met by Raymond, remember "Rainman" from the first diary entry, who guides me through the now empty house. On this end we are clear for a closing. It is now 11:15, Sweetie has arrived, and we are optimistic. My phone rings, Robert's smiling face appears on the screen, and I pick up expecting good news from his end, and that the signature is had. This is however, not the case. Apparently Sarah melted down again, and still hasn't signed. The closing was again postponed.

Oops time to get to work. I'll have to continue later. This may seem long to you but I can guarantee, it seemed like forever to us !!  All I can tell you is that it only gets more interesting.

Are you buying it as a New York based entity? That might complicate things a bit. Otherwise if you're comfortable writing your own contract or modifying an existing one than you may be okay. It's important to realize that if the brown stuff hits the fan, that it will be all that your lawyer, a mediator, or arbitrator will have to work with. After you've drawn one up you could probably get an attorney to look it over for a couple of hundred dollars. Might be worth while the first couple of times out.

Hi Eric, 

How did you come up with your rehab estimates?