- Joe Cornell
- February 26th, 2017
- Trouble with Contractors?
Contractors need capital to be in business, if they have been in business they should have capital.
As I have said, I have been dealing with contractors for a few decades, and most of my experiences with them have indicated, to my satisfaction, that a large majority of the smaller contractors are very dishonest and corrupt. There are groups of criminals that roam around the United States posing as contractors. They drive around and find a house that needs some repairs and knock on that house’s door. They tell the homeowner that they can fix their sidewalk, their roof, their driveway, or they will tell them they would be willing to paint their home, trim their trees, or do whatever they can see needs to be done. Usually these people are very friendly, and very personable. They are conmen and they know exactly what they need to do in order to get their perspective victim to trust them to get the job done easily, quickly, and inexpensively.
They will tell their victims that they need a down payment, and if possible, they will also try to get money towards buying materials. Once they get this money, they disappear and never come back. This is only one of their approaches, because if it is a bigger job they will come back and do a small amount of work, and then again asked for more money, and when they get that, it is then that they will disappear. Regarding these individuals you can really only count on one thing: they will take your money, and you will never get what you thought you were going to get from them. It is just that simple.
It is a fact of business that you need to have capital. If you have been in business for a while, hopefully you have built up equity in your business, thus your need for capital to do a job is not required.