Oregon business for sale
Oregon business for sale
Flipping, the real property investment vehicle in which you buy a property below value and soon sell it for gaining lucre is a really effective method to render advantageous cash stream. Cash stream is crucial if you need to pay the bills and make earnings. Flipping has become a considerable line of work. I support my protégées to purchase and sell for lucre without taking part in the rehab businesses if their aim is to be an investor.
In Oregons’ you have to be cautious how you go on with a flip. If you purchase a house and sell it without performing modifications on it you will not butt heads with the state construction contractors board (CCB). But pay attention. If you believe you can purchase a house, reconstruct it, and then sell it, you can – if you have an overall contractors license or a developers license. Put differently, it’s controlled by the state. The Oregon business for sale intention is to provide some kind of security to the consumer.
The intended task of the CCB is:
“The Construction Contractors Board safeguards the Oregon business for sale public’s interest associating with meliorations to real estate. The Board controls construction contractors and upgrades an effective business climate through education, contractor licensing, conflict resolution, and law implementation.”
A common contracting license will permit you to handle the work yourself on a house you are intending to purchase, mend, and sell. A developer’s license will permit you to purchase, apply contractors to manage the sale rehab, and sell.
Who has to be licensed?
Due the CCB:
Oregon law demands anyone who works for recompense in any construction activity engaging meliorations to real estate to be licensed with the Oregon Construction Contractors Board (CCB). This Oregon business for sale comprises roofing, siding, painting, carpentry, concrete, on-site appliance mending, heating and air conditioning, plate detections, tree service, plumbing, electrical, floor covering, manufactured dwelling setting up, land development and most other business construction and mending services.
A CCB license is likewise demanded for:
*those who buy houses with the Oregon business for sale purpose to mend and resell them, even if they do not do the work themselves.
*material providers that get recompense for setting up or formatting the setting up of the materials.
It’s not hard to fulfill the demands for a contractor or developer license. You just assume a short course that costs about $200 and you get instructed about OSHA, lien laws, and such – there’s very little in it concerning how to be carpenter, etc. You then assume an exam which adds a supplemental $50 to $100. The exam is formulated, similar to most state exams, to be passed so the state can accumulate Oregon business for sale bungs. You can get through it. Once I was initially licensed all I demanded was a bond and liability insurance, which cost approximately $125 if I remember correctly, and $50 for the state license, and I was a contractor – no course to assume and no exam.
The difficult part of the procedure now is guaranteeing liability insurance you can handle. My insurance broker, Bob Gorham at Century Insurance in Bend (541-382-4211), has been working well for me before. The insurance part of the Oregon business for sale equation is hard but you have to incur it so as to keep up with the state rules.