Who can join the MAKEOVER Preferred Contractor Network
Not every contractor a good fit for our Preferred Contractor network
However if you are a good fit, we could be a great asset to your business
We are looking to work with experienced, organized, financially stable and quality contractors that can follow a proven process
Who is Qualified to join MAKEOVER?
Financially Stable
This process is NOT for the cash strapped contractor. These projects are paid with a DRAW SCHEDULE and only COMPLETED work can be submitted for a draw. Some lenders do allow for an UPFRONT draw to get started, but it is not guaranteed. Having the ability to be paid on a draw schedule and only collect payment on COMPLETED work is critical.
Contractor Validation
The lenders REQUIRE all contractors to be VALIDATED. Any contractor that can not pass the validation process will not be allowed to act as the General Contractor. The validation process includes providing proof of credentials such as license, insurance, experience, financial stability and other required verifications.
Properly Formatted Bids & Estimates
The renovation bid needs to be in the proper format acceptable by the lenders. The bid needs to be able to paint the picture in the mind or the lender, appraiser, consultant and underwriter. These people are NOT contractors, that is why it is important to put the bid in the required format. The bid needs to be broken down by area, detailed description of the work and both a labor & materials cost breakdown. You can see a sample bid in the documents section of this website.
Support Staff & Subcontractors
This network is NOT for those who don't have a support staff and reliable subcontractor bench. The Renovation Loan niche does have paperwork involved and having a project estimator, project manager, administrative support staff to help with selections, details and lender paperwork in a timely manner is critical. If you can not evaluate, accept and bid in a timely manner, this niche is NOT for you. Plus having a good reliable list of subcontractors that can perform quality work at fair prices and that can issue you payment terms is very helpful to being successful in the renovation loan niche.
Experienced with Residential Remodeling and dealing with retail clients
The renovation loan niche is a bit different than the traditional renovation business. The clients are borrowing the funds and typically spend more than clients that pay cash. However they also have the ability to pick every line item on the bid. Unless the item is required by the lender to address health & safety issues, the client basically can include anything they want in their scope of work. You & your team need to be able to bid using materials / selections budgets and be able to have open lines of communication and understand the renovation loan process, so you can exude confidence and your expertise in performing these type of renovation projects. As you know if experienced in retail renovations, some clients are nervous, inexperienced, unrealistic and demanding. Taking a consultive sales approach is best and helping the client maximize their wants, needs and budget by using your expertise is the key to dealing with renovation loan clients.
Can take on a Niche line of business & have room for Growth
This network is NOT for those who are so busy that they can not communicate, set appointments and do an initial site visit in a timely manner. If you can not produce a detailed bid and review it with the client to come up with a final scope of work and price to approve and sign off on, then this network will not be a good fit for you. This network is most valuable to those who want to GROW their renovation business without starting an entirely new division or bringing on lots of overhead. This network is also great for contractors who HATE BUYING LEADS and talking to people selling leads that have never stepped foot on a construction site, while they are trying to convince you to pay UPFRONT for the opportunity to compete with Chuck In A Truck or Corner Cutters Construction over buyers who want a Free bid and don't even have funds on hand to hire a quality contractor. We work with contractors that are open to using technology and love to dominate a niche and keep good margins. If you are typically the LOW COST PROVIDER this is not the network for you.
Are you a GOOD FIT?
This niche is NOT for every contractor. We know the type of contractors that fit well. Since MAKEOVER TAKES ALL OF THE UPFRONT RISK, we need to work with contractors that value us, our clients, our referral partners and who truly feel our network & fee structure is a WIN, WIN relationship for all.
VA Approved Builder
If you already have your VA Approved Builder number that is a plus. But if NOT we can help you get it. When a client is using a VA Renovation Loan the contractor is required to have a VA Builder number.
Restoration Insurance Claims Experience
Having experience with Insurance Restoration projects is certainly a plus. Being able to work from a detailed room by room scope of work is extremely helpful. Also being experienced with estimating software will make for a quick learning curve. However if the only work you do is insurance work you may have trouble transitioning to retail renovations.