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Building Department SequenceNow that you know what you want to do to the property, visit the building department again. Find out what permits will be needed, the length of time between submission of a permit request, the availability of the permit, the cost for each permit, and the schedule and procedure to follow for inspections.You do not have to own a property to find out what a permit will cost. Once you do own the property, that is too late to incorporate costs which you do not know about. So find out in advance, even before you buy the property, so you can incorporate these costs into the total amount needed to complete the flip. This is the only way you will know if the flip will be financially successful. And even then you will have to be vigilant not to run over your budgeted amounts.Also begin to practice saying no. Many friends and contractors will suggest things you should consider once you are actually working on the project. Then is just a bit late. Might as well stuff should be addressed as might as well not stuff.
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Prepared 2006-2011 David Ullian Larson
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