Licensed In NC?

picks

Getting a contractor's lic. in NC sucks!

U have to show about $18,000 in the bank to be approved.
well obviously, not everyone has that...i am not starving, but
does anyone know why this is?????????

i can understand precautionary measures and all...
why the cash???

Do you think this is to insure that a contractor is not "broke" and liable to run off with a client's $$ ???
i generally do jobs under $10,000 and have a partner in a new business. we will be able to afford this soon, in the meantime i have had a few frustrating moments.

contractors are allowed to contract any jobs under $30,000 without a license. This is fine and all... but i have lost job oppty's due to the fact that many people want a "licensed contractor"....working on their house.. if u could see some of the work some "licensed contractors" have done around here!!!

they call "Mr. Unlicensed" (yours truly) to come fix the f-ups' work

let me know what u think about this..license requirement
or if it is entirely correct

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crankin

You've got it right. I'm a contractor in Raleigh, and we are not licensed, because as you said under $30,000 you don't have to have one. I find if you explain to the customer, that by law under $30k that no lisenced is requred, and you are professional in your approach and have written contract for the job. They will usually be at ease. You might also want to try getting half the money up front, and tell them you will collect the other half when the jobs finished. That helps alot but be careful it could bite you in the @$$. Some customers might try to withold payment to get you to do more work, so make sure your contract is very clear. Also, make sure you have plenty of referals. Keep a list of phone numbers and address of previous homes you've worked on and tell the new customer to call those people and ask about their experience. If they hear from other homeowners of the great job you did, and your professionalism. They won't worry about your lisencing situation.

firehawk23

The 18k isnt the money that you have in the bank. They have a balance sheet that you use to calculate working capital. I had over 50k in the bank when i filled out the form and because of things that were due in the near future and other bills I only ended up with 43k in working capital. That also included a 25k contract that boosted it a little. As for having the capital the board does this to ensure that you can financially handle a job. Those who have an unlimited licnese have to have over 125k in wc and need to be audited.

picks

Thanks for the input guys..
Firehawk--Was the process tedious? I went on the lic board's website
and read a bit about testing etc, but I am not sure how extensive it is.

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SmithBuilt

It's not as bad as it sounds. The best thing to do is go to a seminar for the test. Costs a few dollars but worth it. I took it from someone in Hickory it I can find his name I will let you know.

picks

yea I would appreciate that..
thanks
i want to be licensed by year's end..
trying not to rush things like i usually do

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SmithBuilt

Here's one

contractorsseminars.com

search NC building contractors test or exam
maybe even seminar.

airborneSGT

Any advice on the actual topics to study for the NC G.C. test? I am licensed in FL and the test down here is two days long.

skymaster

Any info on SC?
Jack

Norrrrrrrrrrrrm

How do you get liability insurance with out a licence? I may head to N.C. soon and would be doing jobs under the 30k mark to begin with.

picks

norm,
u dont need a license to get comp and liability coverage.
just a ss# or tax id

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Norrrrrrrrrrrrm

Picks,
Thanks for looking out.

TurnkeyConst

They say by years end in nc the limit without license is going to be 5k to get rid of the modular business screwing a lot of people. dont know how true it is. Just passed my test Feb. 6, 2007 waiting on contractor id. Best bet to go in with contracts for working capitol versus trying to have all the money in the bank. The one out of hickory I went to as well is by the Licensing seminar for contractors 1800-784-EXAM or 704-322-5576

jbandamy

Hey Guys, Im Trying To Get My (nc Residential. Contractors License)..ive Studied And I Need That Little Extra Books,software, Etc...to Get Me Over That Hump To Pass The Exam. There Is Not A Lot Of Info. Out There For This Exam.would Greatly Appreciate Your Guidance...

Mitch M

When I got my NC license back in '95 I did not have the money either to meet the old requirement of 12,500. With a little creativity and completely legal I made it work. I had wondered about the money requirement as well but after thinking about it, I guess they want to make sure you have at least a little money to carry you. There are some many fly by nighters out there who really don't have the money to even carry them from day to day.

I had been in construction in some form all of my life when I took the test. I did not know of any classes or seminars then so I just got the books they told us the test was derived from and studied as hard as I could.

Roger Manning

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homeman

jrroofing

What do you mean by trying to go in with contracts for working capitol versus trying to have the money in the bank?

airborneSGT

I cant imagine it being more complicated then my FL license. I might go up there before years end to get licensed.

FWIW my FL licesne was the same. I needed my insurances prior to activating my license. FL right now has no minumum net worth requirenments.

clfless

The seminar that I took only did the commercial test, the residential test is just too hard to pass. The commercial license lets you do both.

Passing the test has nothing to do with your knowledge of constuction or contracting, its about knowing their correct answer to their questions. Without taking the seminar I would have failed the test for sure.

Also being incorporated helps with the working capitol issue.