Roofing Credit Problems

roofpro350

Has anyone else run into problems with your customers wanting to hold on projects due to the uncertainty of our economy. I have had a few customers wanting to wait or atleast until they get a letter in writing from the bank that their loan was approved. I also have had projects cancelled due to the economy and credit concerns.

neolitic

Have you been paying attention to the
news lately?

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roofpro350

That was the reason for my question!!!!!!!!!

Roofboy

Hello,

Not to be an A** but you could tell the customer your quote is only good for X amount of days. If they wait your price could go up.

Something to think about.


Keith

tinner666

All the time. They know my prices go up, but that's life. I have 6-7 clients that do partial projects and some have lasted over 7 years. Makes for steady work.

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Frank Slate Roof Repairs, Richmond, Va.

MrRoofer

The greatest selling feature I have right now are rising costs. I.E, if you do it next year, it's probably going to cost more (the average bungalow around here has consistently cost about an extra $1000 every year for the last three or four years). This usually gets em signing the dotted line .

Mike Finley

It's all over the news. Homeowners with established HELOCs are signing contracts with contractors, the work begins and the check they write to the contractor bounces due to the HELOC being frozen and the homeowner not knowing about it until they go to use it.

Tighten up your sh*t and keep on top of everything right now.

neolitic

That's what I was talking about.
It helps to be aware of one's environment,
and this has been pretty obvious for a
good while now.

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wellbuilthome

Thing are lookingbad here . I sold two jobs last Sat and 900am monday the HOs called to put a stop on the jobs . I dont no how we will work if people cant get cash from the bank ?

MJW

Just a suggestion....I thought of it myself, but I can't get far enough ahead.

Why not become the bank yourself. Try to get enough out of them as a down payment and use it for materials. Do this on every other job. Have them, then, make payments to you every month. You could possibly have monthly income for years to come without even working. It would be tough for the first year or so, but would pay off in later.

Any thoughts on this??

747

Thats a great freekin ideal in my book. But then i'm not in the business.

Also don't be suprised if your line of credit decreases on your credit cards. It doesn't matter if you pay on time or not. In the event that happens your fica score will change no fault of your own and then your car insurance will go up. A car insurance preminum is based on several factors one of which is fica score.