Construction Draw Schedule - File Swap - Contractor Talk

Construction Draw Schedule

 
Thread Tools Search this Thread Display Modes
Old 03-25-2009, 02:12 PM   #1
Member
 
VBuilt's Avatar
 
Trade: Custom Home Builder & Additions
Join Date: Oct 2007
Location: Pembroke, MA
Posts: 56
Rewards Points: 75

Construction Draw Schedule


Something that works for me.
Can change the contract amount. deposit. "Month" payment is anticipated and the percentage draw to suit the job.
Attached Files
File Type: xls ConstructionPayments.xls (126.0 KB, 8248 views)
__________________
Roy Vinton
VBuilt Custom Homes
www.vbuiltcustomhomes.com
I used to know everything- now I only have opinions.
VBuilt is offline  
The Following 3 Users Say Thank You to VBuilt For This Useful Post:
dykstra homes (04-10-2011), Kent Whitten (10-03-2009), noahweb (02-09-2010)

Warning: The topics covered on this site include activities in which there exists the potential for serious injury or death. ContractorTalk.com DOES NOT guarantee the accuracy or completeness of any information contained on this site. Always use proper safety precaution and reference reliable outside sources before attempting any construction or remodeling task!

   

Advertisement

 

Old 04-23-2009, 07:03 AM   #2
General Contractors
 
Buckknekkid's Avatar
 
Trade: Project Managers
Join Date: Feb 2008
Location: ONTARIO
Posts: 67
Rewards Points: 75

Re: Construction Draw Schedule


thats a great payment schedule. clients may benefit from a Gantt chart slash bar chart visual to ease the shock and let their bank follow the progress milestones.

Advertisement

__________________
Project Managers, Design Builders
Buckknekkid is offline  
The Following User Says Thank You to Buckknekkid For This Useful Post:
VBuilt (04-23-2009)
Old 07-27-2009, 02:40 PM   #3
Registered User
 
CDR's Avatar
 
Trade: General Contractor
Join Date: Jul 2009
Posts: 2
Rewards Points: 10

Re: Construction Draw Schedule


Thats a nice chart. Do you have one that shows the changes from change orders?
CDR is offline  
Sponsored Links
Advertisement
 
Old 08-22-2009, 09:52 AM   #4
Grand Rapids Remodeling
 
Paulie's Avatar
 
Trade: Remodeling Contractor
Join Date: Feb 2009
Location: Grand Rapids, MI.
Posts: 3,115
Rewards Points: 2,052

Re: Construction Draw Schedule


would like to view the document but adobe reader will not support a xls document, any suggestions?

www.phbconstruction.com

Last edited by Paulie; 11-16-2009 at 05:31 PM.
Paulie is offline  
Old 08-22-2009, 10:39 AM   #5
Pro
 
RCPainting's Avatar
 
Trade: Painting in Utah
Join Date: Jan 2006
Location: Southern Utah
Posts: 916

Re: Construction Draw Schedule


I made it a .pdf
You might try Open Office, I am a mac user, I am sure there are other options the pc guys have.
Attached Files
File Type: pdf ConstructionPayments.pdf (43.0 KB, 2788 views)
RCPainting is offline  
The Following User Says Thank You to RCPainting For This Useful Post:
Paulie (08-22-2009)
Old 08-22-2009, 12:56 PM   #6
CAD Services
 
wallmaxx's Avatar
 
Trade: So done with this place...
Join Date: Jun 2007
Posts: 3,678
Rewards Points: 144

Re: Construction Draw Schedule


Quote:
Originally Posted by RCPainting View Post
I made it a .pdf
You might try Open Office, I am a mac user, I am sure there are other options the pc guys have.
Nothing left to be said.
wallmaxx is offline  
The Following User Says Thank You to wallmaxx For This Useful Post:
RCPainting (08-22-2009)
Old 10-05-2009, 08:34 AM   #7
General Contractors
 
Buckknekkid's Avatar
 
Trade: Project Managers
Join Date: Feb 2008
Location: ONTARIO
Posts: 67
Rewards Points: 75

Re: Construction Draw Schedule


You could provide a hidden cash flow portion as well. I modified the "Viper" costing to add in a cash flow monitoring function.
__________________
Project Managers, Design Builders
Buckknekkid is offline  
Old 11-20-2009, 10:09 PM   #8
Los Angeles Remodeler
 
brooklynite's Avatar
 
Trade: General Contracting
Join Date: Nov 2009
Location: USA
Posts: 84
Rewards Points: 75

Re: Construction Draw Schedule


Quote:
Originally Posted by VBuilt View Post
Something that works for me.
Can change the contract amount. deposit. "Month" payment is anticipated and the percentage draw to suit the job.
That is a great schedule for smaller projects and good starting point. In larger projects (minimum $1M and up) that last 7 months to 2 years, something like this excel spreadsheet normally would not work as it will get too wide and each month it will get a bit wider than last month. Plus many clients require separate labor and material breakdown for tax purposes and want to know percentage completed each month. Almost everyone I have worked with also needs to see the retainage held for each line item as they may be different (usually the first trades like footings are released earlier that punchout).
brooklynite is offline  
Old 11-21-2009, 12:41 AM   #9
solar guy
 
naptown CR's Avatar
 
Trade: solar contracting
Join Date: Feb 2009
Location: Annapolis Md
Posts: 1,917
Rewards Points: 1,000

Re: Construction Draw Schedule


There is a potential for the customer to get ahead of the draws. As an example you have cabinets and counters in the last month of the schedule to get paid.
When do you incur the liability for the cost of the cabinets? is it when you install them or maybe 2 months before when you order them? Just to play devils advocate set's say the cabinets are an 8 week lead time for delivery. You order them in month three to have them ready for install in month 5.
The customer dies in month 4 or you have a falling out. You are obligated to pay for the caninets but may never be able to install them. A properly designed draw schedule should keep you as the contractor ahead of the expenses on the project and with the expected level of profit at any given stage just in case the project goes south for whatever reason. You should be able to walk at any time and be paid for expenses and the expected profit on the job to that date.
naptown CR is offline  
The Following User Says Thank You to naptown CR For This Useful Post:
hodges452000 (04-25-2012)
Old 01-09-2010, 09:05 PM   #10
Member
 
VBuilt's Avatar
 
Trade: Custom Home Builder & Additions
Join Date: Oct 2007
Location: Pembroke, MA
Posts: 56
Rewards Points: 75

Re: Construction Draw Schedule


You are quite right.
I haven't been on in a while- pretty hectic.
First I would say that when I open the file that I attached I was surprised at the deposit I showed; as I recall i had opened the template and just punched in a few numbers.

I would never start a job without a minimum of 10-15% down. I explain to the clients that the funds are to cover ordering custom items far ahead off the actual draw on completion.
I have found that the draw works for me quite nicely and in the event of substantial pre-pay special orders I would address this upfront and require additional funds to cover the order.
All that being said, you correct that the possibility of letting a client get ahead on the job is always a factor to look at and adjust accordingly.

Advertisement

__________________
Roy Vinton
VBuilt Custom Homes
www.vbuiltcustomhomes.com
I used to know everything- now I only have opinions.
VBuilt is offline  


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Commercial Construction Spreadsheet Help?? SBI Commercial Construction 16 12-17-2010 11:17 AM
Construction Clean Up Rate in Missouri mrcleanup Business 13 10-09-2009 01:47 PM
New construction - hardwood flooring advice simeon Flooring 17 03-16-2009 09:58 PM
Need construction equipment 1/2 price? BKFranks Excavation & Site Work Picture Post 0 03-12-2009 08:22 PM

Join Now... It's Fast and FREE!

I am a professional contractor
I am a DIY Homeowner
Drywall Talk is for
PROFESSIONAL CONTRACTORS ONLY!

At DrywallTalk.com we cater exlusivly to professional contractors who make their living as a contractor. Knowing that many homeowners and DIYers are looking for a community to call home, we've created www.DIYChatroom.com DIY Chatroom is full of helpful advices and perfect for DIY homeowners.

Redirecing in 10 seconds
No Thanks
terms of service

Already Have an Account?