Payment options

muddermankc

Just wondering how others deal with getting paid. Anyone do 1/2 up front,1/2 upon completion,invoice total when done, etc. thanks

rckslash2010

I just finish the job and wait forever to get payed, it's getting really sickening. I don't even want to work for those people anymore, it's getting to the point for me it would be better to find some job that payed $15 an hour, least I would know when I was going to get payed. Somethings gotta change.

Muddauber

On new homes I draw 1/3rd when the board is stocked, 1/3rd when hung, 1/3rd when complete. For basement or additions I may go with 1/2 when hung,1/2 when complete.

Depends on who I'm working for too. I've been screwed to many times to let anyone get to far ahead of me.

Whitey97

Lately, I've been doing 1/2 and 1/2. I as well have been bent over 1 too moany times. Now I really like to have a credit card on file as well, just to secure incase. I as well am pretty sick of the whole thing and agree with rckslash. Since I've taken their CC they seem to be pretty responsive of that.

Darren@Partners

Jeez, even finished an estimate the other day and was asked,"You do take VISA, right?" Hell ya, I'll bring my (buddy's) machine tomorrow!

Whitey97

I tell them to paypal me

Darren@Partners

How much does that cost? The VISA machine costs 2.5%

Whitey97

for me, nothing. I might cost a little for them, but I don't think so. Only had to do it a few times. most pay in cash

Darren@Partners

So Paypal costs the customer and not the vendor. Are the funds direct deposited or are you mailed a check?

Whitey97

honestly I'm not sure who it charges, if it charges anyone at all, I've used it a number of times and never been charged. Both for incoming and outgoing. You set it up and what happens is this, The funds go from the customers account to their paypal account, then from their paypal account to your account. From there you can leave it in your paypal account or you can "cash out" and put it in your checking account. Everything is electronic. Total transfer time is about 3-4 days, to clear funds.

Al Taper

If I do the whole job( hang and finish) I mostly do small work. 9 times out of 10 I will get the rock on the job before I start.. I will get my frist draw after the job is hung and taped out.. My rocker is a pain in the ass, he can never wait on a payment..My frist draw is almost half the invoice.

eastex1963

1/2 when hung, 1/2 when finished. Haven't had a problem.............YET.

Whitey97

The rocker sounds like the intelligent one. He wants to be paid when the job is done. Nothing wrong with that

Darren@Partners

Use the card machine tonite, and then the transaction has to be "batched". Then the clock starts and you get your money in 24-48 hours deposited into your account. Think my buddy pays like 40 per month plus 2.5%. Guess paypal would be cheaper but a little slower.

muddermankc

I did the paypal thing a while back, 1400.00 job it cost 33.00. We did the transaction on a wednesday and it was in my account on monday morning, people are usually willing to spend more when paying by card. Its just fake money right?

Whitey97

you're buddy is getting railed. Last year when I was looking into a CC machine, they were only going to charge $10 /mo. you should have him look around a bit.

if your figures are correct ^ that would be about 2.4% still cheaper than the cc machine

rckslash2010

What really get's me is when you call these people that owe you money, and you know there sitting by the phone, and they never answer. At least be man enough to pick up the phone and tell me an other lie.

Darren@Partners

Is this a homeowner owing you or contractor?

Whitey97

join the club.

Darren@Partners

Whitey, right about the card machine. He signed a 5 year deal at forty per month, with option to renew. I'll just borrow his when necessary. He'll wind up paying 2400.00 and still not own it.