All Forum Posts by: Robert Rayford

Good job!

@Charles Coaston I agree with @Jay Hinrichs, The HML should have set the draws up with a structure close to this... The first completed job should be paid after inspection or verification of completion, With that payment a minimal 10% advance should be included for the next round of work and so on. This will keep the contractor moving forward. It is vital to find a rehabber/remodel contractor that covers a wide range of trades. If you are piecing the work out to several different tradesman then each one may require a start up deposit and single payment at completion. If you are doing most of the work yourself I would do the work that requires the lease amount of materials cost first, in proper series of course. You need to go to HML and let him know the situation.

You should have a contractor walk the property with you before making a offer. You can explain what you would like to accomplish, this will help you understand the property better and will allow you to better facilitate your game plan and offer amount. Finding the right G.C that will be willing to walk properties on spec will be a little difficult , unfortunately . I am a flipper and G.C  so I have a advantage over most. But if I was not in this position that is what I would do. If you need my help just P.M me and if I am available I can walk a couple properties with you.

Good to know. Thanks @Oren K.

Very well said! Thank you @Malcolm Boston

wow BP must be giving 2 for 1 post. lol

I own a General Contracting Co. and a Plumbing Co. in the Bay Area Ca. We carry our own contracts and any reputable contractor will have there own contracts. We have a 2 page contract for simple jobs and a 11 page contract for the large 6 figure jobs. I have had customers present their own contract but once they review mine we usually just red-line any changes they wish to include or exclude. As far as insurance, a Construction Contractor especially a foundation company should carry General Liability Insurance. This insurance covers any and all work the Contractor works on. But if you feel you need a to be added to their insurance then you would want to ask for a "certification of coverage" for the type of work and the cost limits of the policy. In most states General Liability Insurance is not a condition of licensing so protect yourself and don't assume there is coverage. What most homeowners miss is the Workers Comp insurance requirement. If a worker of the contractor gets hurt while working on your property then your as liable as the contractor. Be sure to ask for this also. If you really want to protect yourself you can contact REI Guard for a Builders Risk policy and just subtract this amount from the bottom line.

I own a General Contracting Co. and a Plumbing Co. in the Bay Area Ca. We carry our own contracts and any reputable contractor will have there own contracts. We have a 2 page contract for simple jobs and a 11 page contract for the large 6 figure jobs. I have had customers present their own contract but once they review mine we usually just red-line any changes they wish to include or exclude. As far as insurance, a Construction Contractor especially a foundation company should carry General Liability Insurance. This insurance covers any and all work the Contractor works on. But if you feel you need a to be added to their insurance then you would want to ask for a "certification of coverage" for the type of work and the cost limits of the policy. In most states General Liability Insurance is not a condition of licensing so protect yourself and don't assume there is coverage. What most homeowners miss is the Workers Comp insurance requirement. If a worker of the contractor gets hurt while working on your property then your as liable as the contractor. Be sure to ask for this also. If you really want to protect yourself you can contact REI Guard for a Builders Risk policy and just subtract this amount from the bottom line.

Actually GFI outlets will not work without a ground. GFIC's is the complete circuit with the GFI being the receptacle. Is your electrician advising of replacing all wiring for those circuits? Running a separate ground is not to code. Also have you checked to see if the boxes are metal? The boxes in that age home are grounded on the side or rear. So you will not see a separate ground wire in the outlet box. Get a second electrician to take a look. The code is "If you don't upgrade, adapt or add to the electrical circuits then the circuits are withstanding" . Meaning that you should not be forced to upgrade to GFIC'S. If you get a FHA buyer then play dumb and give them a $150 repair credit to change the bathroom and kitchen receptacles to the GFI type.