Building permits, PEX plumbing, Workmen’s comp and Self employed Taxes

Good Morning [First Name], fellow Real Estate Investors and Contractors,

It was our Pleasure to meet you guys last Tuesday in Woburn (details below). (back to Peabody, March 26)

Here’s what we’ve got coming up, March 26, 2013 at the SpringHill Suites Hotel 43 Newbury Street (Route 1 North just before Sonic carhop) Peabody, MA 01960

6:30 PM Buy, Sell Networking and refreshments.

1. Workmen’s Comp (details below)

2. Loss Mitigators will show us what’s currently happening in the Short Sale, Foreclosure and REO field. and Where the best deals are!

3. Tax Return tips for Self Employed, Corps and LLCs (details below)

4. REO Broker David O. will let us in, on what’s finally coming on the market from the Banks.

1. Workman’s Comp Insurance Agent:
Can you get by without a policy, what’s your downside when you try?
What’s covered? What’s not?
What do most of the Claims and Settlements consist of?
The easiest way to avoid problems?

3. Self Employed Tax Returns from HR Blocks TOP Preparer:
Company vs LLC vs S Corp What are your Tax Consequences?
IRS Red Flags?
When to file?
Who’s working for you? IRS test for Employee vs Independent Contractor (or sub).

Last Tuesday
There was some very important information given out at the meeting:
e.g. Know any Plumbers still using copper? Between the high cost and tough soldering that high temperature no-lead solder requires, none of the Plumbers are using it. Instead they’re all using PEX and depending on their Supply House there are three major brands to choose from. Cheaper and easier, what more could you ask for?

Just about all the questions from our Quiz (still on the Home Page Blog) were answered.
Thank you Bruce, Mike, Damian, Woody, Junior, Dave, Rick and everyone else that had input.

Also one question we did not expect: Bed Bugs on the second floor of a 3 family?
I’ve researched this, just in case and learned from Pest specialists at the annual Seminar for Condos, show in Boston.
* You probably have to do the Whole building at once.
* Heat 105-110F is the only guaranteed way, never mind the chemicals and bug toxins.
* The surprise was that Bruce, Biggest GC in Providence, told us “Once the source (Tenant) is determined, they’ll have to pay for the Pest removal! Sometimes up to $3,000. per unit.

Next Bob, from Home Depot, went (literally) “through the Roof” with Eagle’s Estimating system and Construction Cost software, showing us all the shortcuts and support that Depot provides. Also the Webinars for using this time saving service. Is it hard to use? If you’re over 30 years old, maybe. But so wasn’t learning to use your Iphone. What have you done latley that was Easy. My suggestion, Spend the time and get it down. If you’re having trouble ask one of your kids, maybe even an Engineering student you can consult by the hour? Couple of guys there had used these services successfully saving time and money.

Bruce also mentioned he no longer works for folks that “don’t want to waste time and money pulling a permit for this job” He’s found that this “collusion” usually backfires on him. If an owner is willing to take a chance at Cheating the City/Town they’ll probably do it to him also. Besides what recourse do you have should any problems arise in this litigious, sue happy, society?

Next month March 26, we meet back at the SpringHill Suites and Don’t forget our Movers and Shakers March 15 at Denny’s in Danvers 7-8:30 PM.

April 30
, Dave Lindahl – Apartment House Riches and CEU’s – I’m barraged by Educators that are giving me bonuses as I get ready to renew my own Unrestricted Construction Supervisors license. Mr. X will speak to us about their services and the best program for you to take renewing YOUR license and doing your CEUs.

See you soon! Mike Hurney, Director, PO Box 307, Marblehead, MA 01945 781-639-8616 office

PS We always appreciate your feedback, requests and referrals for Real Estate and Financing. [email protected] 781-405-1845 cell

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