All Forum Posts by: Edward Moore

I think I get it. lets say that if the property burned down, I would obviously loose my rehab money up to that point in the project, and still be responsible for re-paying the HML. So I am thinking that I would need an insurance policy covering as much of the HML that I can get. Sound right?

Thanks @JoeSplitrock. That's what I was thinking. 

Steve, I apologize but I am not sure I understand what you mean by "do you have insurable interest in the property". Myself and my partner will be paying out of pocket for the rehab. But everything else will be funded through a HML.

I am partnering with an agent to start investing in flips. The plan is for me to be the GC on these projects. 

My question is, because the GC (me) and the subs will all have insurance. Does our investment company the LLC need to carry additional insurance on each property?

Thanks

I have been doing some reading on this and it seems like in NC at least you do not have to hire a GC for a project that stays under the 30k threshold. I would like to manage and even do some of the work on most of my projects, and I think this is the way to do it.

 Does anyone have any input on this? 

Would you then just have the electricians, plumber, etc.. pull their own permits?

I am assuming because I would be operating under an LLC, and not living there for 12 months that I would not be able to pull my own permits as the home owner?

What happens if mid project the unexpected happens and it then goes over that 30k mark? Who would be checking for this? 

Thanks