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Message
Looking at trying my hand at a few flips...
Posted on 10/15/17 at 5:18 pm
Posted on 10/15/17 at 5:18 pm
I have a questions:
Do I have to have a remodelers license to perform repair work in the house? 1 house I am looking at is approx 30-40k in repairs. I would sub everything out on my own.
Do I have to have a remodelers license to perform repair work in the house? 1 house I am looking at is approx 30-40k in repairs. I would sub everything out on my own.
4
Posted on 10/15/17 at 6:26 pm to mandevilletiger34
I have flipped and never had a license. I'm in Louisiana.
Posted on 10/15/17 at 9:35 pm to ItzMe1972
did you have to obtain any permits to do any work?
I am in St. Tammany and do not think I can do any rehab without them needing their share?
I am in St. Tammany and do not think I can do any rehab without them needing their share?
Posted on 10/15/17 at 9:59 pm to mandevilletiger34
Know what your getting into...its not as easy as it looks on tv...
Posted on 10/16/17 at 9:32 am to tigers1956
"did you have to obtain any permits to do any work?"
That depends. I never did.
Sometimes subcontractors will say they have to get one.
Maybe other investors will chime in.
That depends. I never did.
Sometimes subcontractors will say they have to get one.
Maybe other investors will chime in.
Posted on 10/16/17 at 9:58 am to mandevilletiger34
Not trying to be a jerk, but if you looked at it Friday and there are not multiple offers today then its likely still priced way too high to make money. I'm not a flipper, but I have some rental properties. Any great deal, rarely lasts a week.
To answer your question on being licensed, it depends on what you are trying to do? If it is simply replacing/ updating items then generally no. If you need to move things like bathrooms or structural items, then yes you may.
You can just hire professionals like plumbers, electricians, roofers, HVAC to replace and rework.
To answer your question on being licensed, it depends on what you are trying to do? If it is simply replacing/ updating items then generally no. If you need to move things like bathrooms or structural items, then yes you may.
You can just hire professionals like plumbers, electricians, roofers, HVAC to replace and rework.
Posted on 10/16/17 at 11:23 am to mandevilletiger34
Check out the Louisiana Contractor Licensing Board website. The state just added a new remedoler license but I believe that is for people who do that as their primary business.
Either way, the site will have all the state requirements for when you have to hire a contractor or get permits. I'm generally against over regulation in general and think permitting rules can go overboard, but skipping over some of those rules can affect your ability to sell the house, so tread lightly, especially if you're new.
The last thing you need is an overzealous government employee who thinks you don't appreciate the rules he is tasked to enforce, no matter how trivial they may seem to your larger project.
Specifically, pay attention to rules on total $ value of improvements to a specific property and permit rules can apply regardless of $ value depending on the work performed.
As an owner of several rental properties and I built my own custom house recently, "a few flips" is not something you should do on a whim with TD as your best reference. Learn to walk before you run.
Either way, the site will have all the state requirements for when you have to hire a contractor or get permits. I'm generally against over regulation in general and think permitting rules can go overboard, but skipping over some of those rules can affect your ability to sell the house, so tread lightly, especially if you're new.
The last thing you need is an overzealous government employee who thinks you don't appreciate the rules he is tasked to enforce, no matter how trivial they may seem to your larger project.
Specifically, pay attention to rules on total $ value of improvements to a specific property and permit rules can apply regardless of $ value depending on the work performed.
As an owner of several rental properties and I built my own custom house recently, "a few flips" is not something you should do on a whim with TD as your best reference. Learn to walk before you run.
Posted on 10/16/17 at 8:27 pm to mandevilletiger34
In my professional opinion, there is money to be made flipping houses, but for real estate agents. I do contracting and even doing the contracting, my profits have all the risk, but the real estate guys gets his off the sale.
If you want to be a flipper get a real estate license and do some of that on the side to help your profits. If not, you going in behind the 8 ball.
If you want to be a flipper get a real estate license and do some of that on the side to help your profits. If not, you going in behind the 8 ball.
Posted on 10/17/17 at 8:58 am to tigers1956
quote:
Know what your getting into...its not as easy as it looks on tv...
This. I'm an attorney and about 95% of my practice is dedicated to construction issues. I just finished handling a matter for three sisters who (in their words) got in over their heads because they watched too much HGTV.
Be careful. The Louisiana State Licensing Board for Contractors will be a good resource for you. Also, I know I'm biased, but I think it would be a good idea for you to sit down with an attorney for an hour or two before you get started so you can go over some basics of what you're getting yourself into.
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