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03-10-2008, 03:20 AM
| | Junior Member | | Join Date: Mar 2003
Posts: 14
| | | Fire at Rental Property
What is the name of your state? MI
I recently had a house fire at my rental property in Detroit, MI. I have an actual cash value insurance policy with a 100,000.00 worth of coverage. My estimates from General Contractors are coming in at 105,000.00. Basically after they depreciate i will not have enough to make the repairs using a GC. My question is "Will the insurance co. or mortgage co. make me hire a "General Contractor" or can I be the const. manager and get my own sub's?" Also if I ran the project myself will they pay out in phases or will I have to get reimbursed once I’m finished? Just an FYI - I am a residential designer/const. manager in Atlanta, GA. So I am capable of doing the job myself, just not a license general contractor in MI.
Last edited by detroitLL; 03-11-2008 at 03:10 PM.
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03-11-2008, 08:13 PM
| | Senior Member | | Join Date: Nov 2005 Location: South Cackalacky
Posts: 15,239
| | Quote:
Originally Posted by detroitLL  What is the name of your state? MI
I recently had a house fire at my rental property in Detroit, MI. I have an actual cash value insurance policy with a 100,000.00 worth of coverage. My estimates from General Contractors are coming in at 105,000.00. Basically after they depreciate i will not have enough to make the repairs using a GC. My question is "Will the insurance co. or mortgage co. make me hire a "General Contractor" or can I be the const. manager and get my own sub's?" Also if I ran the project myself will they pay out in phases or will I have to get reimbursed once I’m finished? Just an FYI - I am a residential designer/const. manager in Atlanta, GA. So I am capable of doing the job myself, just not a license general contractor in MI. | The better question is whether or not your city will allow you be be a GC without a license. They will pay in "draws" likely, but, you really need to direct your questions to THEM, since they have the final say.
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03-12-2008, 01:41 AM
| | Junior Member | | Join Date: Mar 2003
Posts: 14
| | | yes I can pull a homeowners permit. except for mechanical and electrical and I have people to pull those permits. |
03-12-2008, 05:35 AM
| | Senior Member | | Join Date: Nov 2005 Location: South Cackalacky
Posts: 15,239
| | Quote:
Originally Posted by detroitLL yes I can pull a homeowners permit. except for mechanical and electrical and I have people to pull those permits. | Then ask the insurance company. Usually, when you pull the HO permit, you're telling the city that you're doing the work yourself, right?
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Originally Posted by arazi Quote: |
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