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Do I qualify for the financial statement and reference? I'm located in Tennessee.

Hello, I am looking to build a few homes for sale along with custom homes if need be in the state of TN. I have built several houses under the owner builder clause. The house I am living in now I have built. I was reading where I need a financial statement prepared by a CPA, is this easy to get? Also, A letter of reference from past client/employer. I have been retired for over 6 years and my previous employer was a water district . I'm not sure about financial statement and reference statement Please respond with clarification

2 replies

Feb 18, 2020

For information about how easy or hard it is to obtain the necessary financial statement - it'd probably be helpful to reach out to a local CPA or to a local licensed contractor. They'll have direct experience there and be able to discuss that process a little more clearly. Though, while a CPA-prepared financial statement might be a little invasive and potentially expensive, I can't imagine it'd be a particularly uphill battle to obtain one. As for the letter of reference - this can come from either past employers, past clients, or from a code official who's inspected your work. So, if you don't have any previous clients or employers who can attest to the quality of your workmanship, it might be easier to reach out to a previous inspector to see if they'll draw up a reference letter for you. Unfortunately, I'm no expert in the ins and outs of contractor licensing in Tennessee. But, here are some helpful resources available online from the Tennessee Board for Licensing Contractors. Additionally, reaching out to the local permitting office, a local contractor, or construction lawyers in your area should help to provide some additional insight.

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Apr 23, 2023

I think that when it comes to financial questions, it will be best to reach out to a local CPA or to a local licensed contractor. They will answer all the questions you have and also can help to avoid some mistakes. Finance is a complicated sphere, and when it comes to construction, it's better to be careful and find out everything before doing something. I have a financial course twice a week, but we have never talked about construction, but I think that there is some info online. And I actually have to look for it, because I need it for my paper. I've already found this page https://paperap.com/free-papers/accounting-and-finance/ which provides different accounting and finance essays, and I need to see if something is connected to the construction field. But if not, such a source will still help me with writing more general parts. And if I find something useful, I'll for sure share here.

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