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post #1 of 7 (permalink) Old 07-18-2012, 07:24 PM Thread Starter
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Pay cycle

So I recently had a conversation with someone from a "property preservation" company that was looking for a contractor in my area.
I explained that I was going to be very upfront and one of the things was that we required payment within 40 days.
They explained to me that their payment system is 75 - 90 days and that is average. No it is not, the 2 nationals I do work for pay within 40 days.
I explained that after 60 days if we are not paid then we can't lien the property. I loved their response " you are not allowed to place liens on the properties", guess what, you don't pay me I lien.
After being in this business for a while I truly believe that the reason that some companies try to drag out the payment is just for that reason, that they know that even if they don't pay you the time frame for liening a property will have expired.
Just my thought of the day.
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post #2 of 7 (permalink) Old 07-18-2012, 07:28 PM
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Quote:
Originally Posted by brm1109
So I recently had a conversation with someone from a "property preservation" company that was looking for a contractor in my area.
I explained that I was going to be very upfront and one of the things was that we required payment within 40 days.
They explained to me that their payment system is 75 - 90 days and that is average. No it is not, the 2 nationals I do work for pay within 40 days.
I explained that after 60 days if we are not paid then we can't lien the property. I loved their response " you are not allowed to place liens on the properties", guess what, you don't pay me I lien.
After being in this business for a while I truly believe that the reason that some companies try to drag out the payment is just for that reason, that they know that even if they don't pay you the time frame for liening a property will have expired.
Just my thought of the day.
A lein I was told was only attainable if you did an improvement and Trashouts in thje laws eyes don't count !! We all know tehy do help the marketability of hte property but... So filing a lein is not too easy if possible here in the west

WOOF
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post #3 of 7 (permalink) Old 07-18-2012, 07:33 PM
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Everything is very location specific on liens.
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post #4 of 7 (permalink) Old 07-18-2012, 07:46 PM
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If the local municipality mows three foot grass on a vacant property, they bill the last owner of record and attach the lien.

So do I.
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post #5 of 7 (permalink) Old 07-20-2012, 06:44 PM
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Quote:
Originally Posted by brm1109
So I recently had a conversation with someone from a "property preservation" company that was looking for a contractor in my area.
I explained that I was going to be very upfront and one of the things was that we required payment within 40 days.
They explained to me that their payment system is 75 - 90 days and that is average. No it is not, the 2 nationals I do work for pay within 40 days.
I explained that after 60 days if we are not paid then we can't lien the property. I loved their response " you are not allowed to place liens on the properties", guess what, you don't pay me I lien.
After being in this business for a while I truly believe that the reason that some companies try to drag out the payment is just for that reason, that they know that even if they don't pay you the time frame for liening a property will have expired.
Just my thought of the day.




The entire business model of P&P at the national and regional level is to screw
the contractor out of any and all coin that you can.
"Success" is their only option.
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post #6 of 7 (permalink) Old 07-20-2012, 06:53 PM
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75 to 90 days? wtf your not a bank or credit company, tell to go away!!!!!!!!!!
post #7 of 7 (permalink) Old 07-20-2012, 07:11 PM
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Quote:
Originally Posted by sunkist
75 to 90 days? wtf your not a bank or credit company, tell to go away!!!!!!!!!!
Its called an OPM business model. Other Peoples Money. That term OPM is a widely used financial term. My stock broker told me about it. We shell out the money all this time the national has been paid for the service and tells us to sit and wait till they get paid :whistling

WOOF
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