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  #31  
Old 09-21-2012, 08:43 PM
Mike Leary's Avatar
Mike Leary Mike Leary is online now
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Join Date: Mar 2007
Location: Winnemucca, Nevada
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The drawback to taking money out-front is you think it's yours, before you even spud-in. I've seen many contractors go tits because they got so far behind that the deposit was used to pay last month's bills. Once you lose your bond, you'll be flipping burgers.
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  #32  
Old 09-21-2012, 08:43 PM
muddywater muddywater is offline
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Join Date: Sep 2011
Posts: 1,813
I never take a deposit. I don't feel comfortable holding other people's money, and I tell the client they pay upon completion when they are 100% satisfied.

We are working on a 100k+ job now and there is no draws, job should take 30 days, and probably another 30 days to pay. I am just glad to have the work, I would rather have a project and my money out on materials than in the bank making less than 1%.

I have had a bond company pay me when a general contractor defaulted. It took a year, but they paid the bill in full and the lawyer fees. And it was for a new church building... go figure.
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  #33  
Old 09-21-2012, 08:44 PM
muddywater muddywater is offline
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Quote:
Originally Posted by 1idejim View Post
good for him.
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actually good for me! On the last job those fading paint marks on the curb weren't so accurate.
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  #34  
Old 09-21-2012, 11:15 PM
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Oxmow Oxmow is offline
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Location: Oklahoma
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50% down on residential, Draws when we can on commercial, but usually its not until 30 days past completion due to us being the last sub on site.
I've run into GC's telling me we have to wait until they get their final payment from the owner because of being the last sub to turn in a pay request.
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  #35  
Old 09-22-2012, 10:06 AM
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1idejim 1idejim is online now
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Location: State of Jefferson
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Quote:
Originally Posted by muddywater View Post
actually good for me! On the last job those fading paint marks on the curb weren't so accurate.
You too but he set the bar for his peers and you gained valueable insight for working with other hardscapers including your own men.
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  #36  
Old 09-22-2012, 10:18 AM
Kiril Kiril is offline
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Join Date: Jun 2007
Location: District 9 CA
Posts: 18,333
Quote:
Originally Posted by 1idejim View Post
Another good habit to get into is personaly delivering the sleeves which should be 1 ft. longer than the walk and capped on both ends. Any long runs should be installed by your crew, pull string inside and capped.
Nail hit on head.
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  #37  
Old 09-26-2012, 04:11 PM
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lawns Etc lawns Etc is offline
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Join Date: Jul 2006
Location: Elmer NJ
Posts: 2,271
Anything over $1000 I require 50% prior to start and remainder upon completion. Used to get 100% upon completion but a few bad apples ruined that for everyone!
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