I’m a small residential GC. I ALWAYS front load my deposit and early invoices / SOV. I rarely will execute work on credit. If a client wants slower payment terms prices goes up ~5-10%. I explain that it greatly increases my risk - unless it’s a repeat client that I can trust will pay fast. I require payments usually within 3 days of invoice date. Most of clients are paying cash or have a HELOC. I do invoice as a SOV even on small residential projects unlike most small guys. As a residential GC showing a SOV for work completed is huge advantage when most other small residential GCs have haphazard invoicing methods. The SOV makes my invoices super transparent the homeowner feel like they know exactly what’s being paid for and when.
Hey I heard you’re a drywall contractor and I also do drywall but struggling to grow my business and constantly losing jobs to other people do you do like drywall specific mentorship?
if you have a new business (meaning you incorporated today, have no bank statements) you will need to use your own personal credit as collateral for lines of credit (credit cards, loans). If you have 3 months of bank statements then you can get a loan based on your company's income. If those options aren't available then when you do land a job get them to give you a deposit, progress payments so that you use their money for the job or/and have them pay you weekly to cover your payroll. He pretty much covered all this.
I’m a small residential GC. I ALWAYS front load my deposit and early invoices / SOV. I rarely will execute work on credit. If a client wants slower payment terms prices goes up ~5-10%. I explain that it greatly increases my risk - unless it’s a repeat client that I can trust will pay fast.
I require payments usually within 3 days of invoice date. Most of clients are paying cash or have a HELOC.
I do invoice as a SOV even on small residential projects unlike most small guys. As a residential GC showing a SOV for work completed is huge advantage when most other small residential GCs have haphazard invoicing methods. The SOV makes my invoices super transparent the homeowner feel like they know exactly what’s being paid for and when.
amazing content.
I was number 70. Thanks for all the videos.
We try to finance jobs with cash unless. For Special order products we take deposits.
Hi, I just registered for the training. However I can not log in. It just shows me the zoom invitation for the estimating.
Go here and request access and I’ll let you in.
skool.com/8-figure-contractor
@@iambuilders Ok Thanks, done I have found it in the email.
Hey I heard you’re a drywall contractor and I also do drywall but struggling to grow my business and constantly losing jobs to other people do you do like drywall specific mentorship?
@1malwaysup Yes actually. In my 8-Figure Contractor program. Here’s a link if you’re interested. iambuilders.com/8fc
Do you help persons who have knowledge in the construction field to create their own company and build their business?
This only works if already in business though what about when brand new?
if you have a new business (meaning you incorporated today, have no bank statements) you will need to use your own personal credit as collateral for lines of credit (credit cards, loans). If you have 3 months of bank statements then you can get a loan based on your company's income. If those options aren't available then when you do land a job get them to give you a deposit, progress payments so that you use their money for the job or/and have them pay you weekly to cover your payroll. He pretty much covered all this.
Called y'all to work with y'all never got back with me if y'all to busy to take new clients just till me
People usually hide information to make it easier to make money. But you are just an information splash on the whole TH-cam. Ahaha, we are shocked.