Home>Levelset Community>Legal Help>Looking to become licensed contractor to build homes privately with personal and partner investing, to then sell.

Looking to become licensed contractor to build homes privately with personal and partner investing, to then sell.

LouisianaConstruction Accounting

I am interested in getting my contractor license in Louisiana. Growing up, my father always flipped and often built homes with a contractor friend of his and sold those homes as he is a real estate broker. I’m a realtor now too, as well as a full time commercial historical project manager downtown. I hope to supplement my own income by building a few homes a year for profit. That said, I don’t want to drown in GL and WC insurance prices, will those be required even though I will have no employees, I will just be contracting local subs?

1 reply

Apr 11, 2021

I would say the insurance requirements for each project will depend on your contract with your subcontractors. If you have a solid contract you should be able to avoid W/C liability and should be able to indemnify yourself to some degree. A GL policy is probably something you should carrier just in case of some sort of site deficiency that could expose you to liability. Give us a call if you would like to discuss how the contracts should be structured. 504-323-5885.

0 likes

Add your answer or comment

Not the answer you were looking for? Check out other Construction Accounting topics or ask your own question