What Do We Do If They Offer No Deposit??? HELP

Brushslingers

Actually Teetor, i'm not really a painter per se either... i'm a renovator and commercial build out contractor, this particular company does nothing much more than paint however. Most of the builders in this area, anyways, wants you to supply materials and you get weekly draws based on the completion. It's fairly standard, even when I hire an electrican to install a box and run 12 plugs... he supplies materials and gets draws. I dunno, always been that way for me.

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Benn

AFI

MAC,

I have to agree with some of the guys over here "IT IS A RECEIPT FOR DISASTER" If you don't have the found to do this type of jobs don't do it.

Terrence

I won't work for a GC at all for any reason. I am not in the finance business.

I suggest you stick to residential repaints. After several years of getting your sh.t together, and some bankroll, you can then start to hand out your card to the GC's around town. That is IF you feel like being at the mercy of all other trades on the job, and financing the materials, and working on a VERY slim margin.

I still don't know why you would want to.

This guy may have big jobs or a lot of jobs, or both which get you all excited, but the bigger the job, the greater chance of misbidding or otherwise messing up BIGtime! And right now, you are SMALL time.

MAC2PAINTING

Hello fellow contractors,
Decided to clarify MAC2Painting. Mac2= ( Mom) MAC=( Son) I started in Illinois 25 years ago sticking with the safe jobs, repaints,ext. trims, over the years have done construction, decorative finishes, murals, staining,
exterior restorations,growing every year, but never got rich in this business... can't really see how anyone could. Now all that matters is that there is winter work..i think we all know how that goes...
It has been a beautiful season, every job a winner..over the years my son has become one of the best sprayers i have worked with,(i have seen my share) this contract would be for him and his two men. After finding this forum and introducing him to it, I think it could be one of the best moves i could have ever made. Your wisdom , and the manner in which you all share it is humbling. Thank you MAC2 I will make sure Mac uses his own log-in from now on, thanks

Terrence

Well THAT's a horse of a different color!
Sounds like he has has a great source of info right at home!

MACPainting1

can someone also explain to me the common payout timeing on new construction? does it take foreever and how do you submit billing?
thank you all for the great help i am there for yall too.

MACPainting1

well since were giveing a backround then i will throw in two.lol i have had painting in my life since i was a kid both mother, father, uncles, cousins, and brothers all painted. i have worked my way through prep, turn overs, custom paints, painted ladies, gold leafing, spraying, staining, new and old construction. i owe most my knowlege to my mother and father. i am haveing a blast leaning how to run a fruitful company. my mother my friend, partner in biz, councler, and trusted adviser. This new constuction bidding is kinda new to me but i will make it through it with Gods grace and all the adice i get from my mother and father and that i find here now.lol thank you all for your help.

Brushslingers

I guess it depends on the area from the replies here... in the couple states i've ... areas i've done it's normally percent down for commercial but otherwise it normally works out that you start the job and get signed off for a percentage on a certain day... say wednesday, and turn in the draw before 10 am... your check is ready on friday afternoon for the draw percentage. A certain amount is held back until final walkthrough from the new owner... new homes won't fetch a bunch of money but, it's all about volume. So, say your getting 2.20 square footage for a 1100 square footage home... thats 2420.00, you start monday am and spray the ceilings, trim, doors and tuesday get two coats on the walls, wednesday morning super signs off on 75%... thats 1815.00 you will get on Friday with 605.00 left in the job to hang the doors back up, finish the trim and withhold about 100.00 for final, starting on the next one thursday.

Your mom said you and two helpers... sorry but if you can't get that much done in 2 8 hour days with three people... forget it.

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Benn

Joewho

Generally, I either get money down, or money right after the spray out.

Spraying primer through out, and spraying paint on the ceilings for sure, and possibly paint on the walls. This occurs right after the drywallers leave. Before the doors are hung.

I try for 30 to 40 percent. as I need that money to get through all the trim work, wall roll outs etc. When the caulking, walls and trim are all done, I want another 40%. This is highly negotiable. Final payout may take a hell of a long time to get and I want it to be as low as possible.

A lot of guys leave quite a bit of money for final payout, either because they want to, or the contractor forces it.

This is a point of who is trusting who. With a low final payout the contractor has to trust that I'm going to come back and do all the BS touch-ups and be there just before the customer's final walk through. Which I do. This encourages the GC and other trades to be careful and not abuse the painter.

On the other hand, if the final payout is high, you are in a position to trust the GC and other trades. You can scream backcharge all you want, but really you're left in a postion to chase the carrot on a stick.

What if the other trades destroy your work? What if you don't know who is doing it? What if you do know, how do you prove it? You going to take them to court and provide proof? What painter wants to threaten court? Even if you are well within your rights, word gets around that you are sue happy. So, I always go for very little on the final payout.

It all depends on how familiar you are with the GC. Most of the time, I ask the GC how he wants to do it. That's the best starting point.

lmcgrew79

If im not very familiar with the gc ill ask other contractors how quick they pay. If they seem shady they probably are, and when i mean quick im talking within 30 days. Thats the norm around here. When ever there billing cycle is for the job you get your invoice for the portion of work complete then wait up to 30 days for a check usually monthly. We have had to way up to 90 days to get payed out. The gc will probably make you sign a contract, but if you dont like certain things in it draw a line through it, intial it, sign it, and send it back. Also if you can pay your men and buy the material for a job. THEN DONT DO THE JOB.

Tscarborough

The important thing to remember in any type of business is that risk is the multiplier of capital. If you are not willing to risk, then you are working for wages. If you can not afford to risk your capital or do not have capital to risk, then you should not do so.

This is precisely why so many small contractors fail: They assume the risk with no ability to absorb the loss.