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Old 07-22-2009, 08:10 PM   #46
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In desperate need of professional help


Quote:
Originally Posted by johnnyboy View Post
sorry about the trouble you've had but for anyone else reading... NEVER PAY A DIME UP FRONT AND GET IT IN WRITING! I've always told anyone who wanted cash upfront to take a hike. If they don't have a line of credit somewhere they're worthless to begin with. A contract is good as gold for them and you. Once they get your money... that's it.
In most cases if a client does not want to make a reasonable deposit that is a red flag to the contractor. That said 50% is not reasonable and you should run from anyone requiring more than 30% down at contract signing.

Johnnyboy, running on credit is bad business practice, it is always preferable to operate on a cash basis as you pay no interest. It is also preferable to finance as little of a job as possible. The more of my money I have to put up to do a job for someone the higher my risk factor. The higher the risk factor, the more I am going to charge. These are basic business principles. In addition you will probably find contracts written in those situations to be front loaded with progress payments.

Photo,
I'm glad everything worked out for you.

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Old 07-22-2009, 11:58 PM   #47
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In desperate need of professional help


Quote:
Originally Posted by johnnyboy View Post
sorry about the trouble you've had but for anyone else reading... NEVER PAY A DIME UP FRONT AND GET IT IN WRITING! I've always told anyone who wanted cash upfront to take a hike. If they don't have a line of credit somewhere they're worthless to begin with. A contract is good as gold for them and you. Once they get your money... that's it.
If someone wants me to leave an opening in my schedule, I want a financial guarantee that they will not pull out at the last minute.

My employees would not like finding out the day before we were to start some job, that all of a sudden, they have to stay home for 1-3 days until I speak with the next home owner on the schedule to tell him we will be arriving.

1/3rd up front is valid if the contractor has been in business under the same business name and has a good reputation, along with a fist full of satisfied previous customer reference testimonials.

10% is too much for someone using a cell phone as the only business line and a PO Box as their business address.

Ed

Ed
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Old 07-23-2009, 06:44 PM   #48
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In desperate need of professional help


Once again just would like to really really thank all of you guys for the help, it was a great tool for my husband and I in taking steps to get this resolved! We thought we had a good company, and not sure if people just don't watch them or if they really are that good but it seems there were no complaints on file with them. One thing I do know they were about to pull a fast one on us. On yesterday, because I am a very hotheaded person, I let my husband handle talking things over with the owner without me being present and we are very thankful that he was so willing to be fair with us, I think partly that was on account of all their wrongs. We did sign a contract with the company that my husband said we had called references on and thankfully will be having our work done and hopefully completed all in one day on tomorrow!! yeeeeaaaaa because we have lots of rain coming this way in the beginning of next week! Once they are done I will post a photo to show you guys our results which I am stolked to see! Can't wait. But just really wanted to say a big THANKS to all you guys who helped!
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Old 07-26-2009, 03:39 PM   #49
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Sorry I didn't get these up sooner! But here you go, this is our roof now completed, ready for this? In one day they arrived here at about 6 am and at 4:30 they were cleaning up the mess that they had. Amazing!!! I wish I had found these people first! Thanks again to everyone who has helped with this problem!!
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Old 07-26-2009, 05:29 PM   #50
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and just in time for all of us to come by for jambalaya .. congrats, glad your misery had a good ending
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Old 07-26-2009, 06:57 PM   #51
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I'm glad you got your situation worked out........

Don't take this the wrong way. I just take observations on the average person and their logic when it comes to our trades........

Notice how the presence of possible illegal aliens (also possibly under paid and not treated fairly)and giving them our money seems to escape people's minds when the work is "done in one day".

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