Buying Real Estate With Solo 401-K
OK, say that Mr. Smith has a solo 401-k thingy. It is self directed to buy real estate and make a profit. Say further that Mr. smith has 1 property he has his eye on and would to keep ! (1) The IRA can buy property but you can not enjoy it. Questions are, (a) What entity or person must you deal with, lease to etc... to enjoy it now. (b) There has to be a creative end around on this. (c) Who after all is going to come to the property and look to see if I am using it? Who or what keeps those records and who is to know? Can you lease it to a Trust? After all a trust only has a Trustee ! Please reply with best possible advice.
Nope, lien rights do not go both ways.
But if a improper or fraudulent lien is placed on your property you can challenge the validity of the lien. If the contractor does not then jump thru the legal hoops the lien may be removed from your property.
Plus, there are so many other methods of revenge a disgruntled customer can wreak upon a contractor!
[addsig]
Bargain76, what other resources do we have? I have been ripped up by more than one contractor, and always have to hire an attorney, which ends up being settled, but costs me more in the end.
Any other suggestions???
You can do a retainer on the contracts. That is you withold a portion and do not pay that portion until all work is completed to your satisfaction.
In the state of Florida a contractor (licensed) is required to give you an affadavit that all outstanding bills have been paid.
Also, for the deposit generally only pay enough to cover the first materials needed and make the contract task completion related. Which means no payment until a specific task is done.
Make sure the contract lists everything to be done down to the last nail. And make sure there are completion dates for those tasks.