All Forum Posts by: Nicholas Lohr

The way I've been told and the way I do it is I give a 1099 if they are an unlicensed contractor and the work exceeds $700.  

If they are licensed then you don't have to. 

how are you getting that with zero down payment?

Down Payment: $0.00 

Loan Amount: $108,000.00 

Loan Points: $0.00 

Loan Fees: 

Amortized Over: 30 years 

Loan Interest Rate: 5.000%

Thanks for the response Greg.  Yeah I'm finding that all the grading companies don't want to touch this until the site drys out.  

 Getting the building permit the same week as the beginning of the rainy season was unfortunate. 

I am doing a ground up build of 2 townhouses. We dug the foundation, the pad was all set to go, the exact correct elevation, etc... and then it rained like crazy for the better part of a month and now the whole site has turned into a rutty claylike mess with a ton of water in it. You sink in about 2 inches when standing in it. I pumped out as much water as I could but it's very hard to maneuver out there and impossible to get all the water out.

My foundation guy says he can't do the forms for the footings until the site drys out and it gets back to normal but now there's more rain in the forecast!

I've heard and read that the following is possible solution.... I excavate the whole site down further with a backhoe, (clay, water and all) export all that out of there, bring the whole pad down another six inches,  have the foundation guy do his form work, and then backfill the whole foundation area with six inches of self compacting 3/4 inch stone.

My thinking is, if I dig all the clay / water out, bring in fresh dirt, and then it rains again I'll be right back where I started. 

Has anyone encountered this?  Think this is the right move?  If so do I have the order of operations correct?

thank you 

Ok thanks anyway J, I appreciate the honesty, I saw this thread and just thought I'd throw it out there to you.  I'm the "GC" actually.  I'll get it sorted.  Thanks for the book btw! I read it a couple years back. 

Perhaps BP need a New Construction forum category? 

Ask you anything eh? Ok awesome! And thank you in advance. I seem to remember you saying that you did some new builds so here's is the situation.... 

I am doing a ground up build of 2 townhouses.   We dug the foundation, the pad was all set to go, the exact correct elevation etc... and then it rained like crazy for the better part of a month and now the whole site has turned into a rutty claylike mess with a ton of water in it.  You sink in about 2 inches when standing in it. I pumped out as much water as I could but it's very hard to maneuver out there and impossible to get it all out.  

My foundation guy says he can't do the forms for the footings until the site drys out and it gets back to normal but now there's more rain in the forecast!  

I've heard and read that the following is possible solution....  I dig the whole site out with a backhoe, (clay, water and all)  export all that out of there, bring the whole thing down another six inches, then have the foundation guy do his form work and then fill the whole foundation hole with six inches of self compacting 3/4 inch stone.  

Have you ever encountered this?

Do you think this is the right move?

thank you again

The loan process is part of it.  I know it sucks and seems ridiculous but you have to do it. I literally had to get a note from my mother for one of my refi loans. I'm 37 years old!

Yes, as long as your existing mortgage isn't FHA.

@John Morgan Do you have a link to the documentation of this law change?  I just searched for a bit and couldn't find anything.  

There isn't, it's best to just search for it in the BP search bar (top right) and then ready through all the posts.

Here's a good one for you: 

https://www.biggerpockets.com/forums/67/topics/427...