Water damage restoration rebuild and repairs
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- Опубликовано: 7 дек 2021
- If you perform water damage restoration services, you likely offer rebuild and repairs as well. If so, you DO NOT want to miss this video.
Can you make money doing reconstruction after water or fire damage? Sure, IF you do it right...
If you make any of these mistakes mentioned in this video... well, you will regret it.
If you are going to offer reconstruction or rebuild services... please be sure to avoid these mistakes.
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Video hashtags: #xactimate #shaneodazier #insurancerestoration
Good stuff. This was timely because I'm about to execute my first recon job...and it's a big one.
Glad you liked the video.
Congratulations on the first recon job too!
Is it from a fire or water loss?
How did you land the job? Referral?
@The Restoration Contractor by Shane O'Dazier fire. The homeowner is a personal friend. I have a large network in my community and many of my jobs come from or through people I know. Fire happened 11/4 and we are scheduled to be done with mit this Friday. Mit bill is ~$70K. I haven't fully costed the recon yet, but it's full scope; plumbing, electrical, HVAC, full roof w/framing.
Thanks for the 10 10 insight
You bet.
Do you do MIT and RECON?
Good stuff 💪💯💯
Thanks!
Where do you operate your business?
I thought you needed a GC license to rebuild the job after we do water restoration
Yes, you need a contractor's license to do rebuilds. Did I say something in the video to contradict that? If so, please point me to the timestamp.
Thanks!
Shane putting people on game!
good video as usual man!!
I appreciate that!
Are you doing recon?
Love it, hate it?
What you said is so true. It is truly a headache on a recon job if the quality is not above average. Profitability is the key to resolving matters, if not stick to Dryouts🙂
More water is always the best answer!
We did recon for many years before doing all water ourselves
Does the not doing the work until you get paid apply for water mediation or only the res construction?
Great question 👇
It is common to do water mitigation before payment (if an insurance claim)
However with cash jobs we would take payment first or at least a healthy deposit
Hey man when doing reconstruction do I need to use Xactimate?
Yes and no. This isn't meant to be a complicated answer but it is the ACCURATE answer.
No, you don't HAVE to use Xactimate. They can-might-will pay your estimate if it isn't in Xactimate ...BUT... your estimate will likely need to be lower than whatever they punch up in Xactimate on their end.
If your estimate is MORE than what they come up with the adjuster is likely going to say "this is all we owe for" which is BS but that is what they will say
If you can make a profit, do your thing.
However the longer you are in business you should get better at your job and your desire (need) to make MORE PROFIT should increase over time. In the early days we all work for cheaper than what we do as we become more skilled and seasoned (I know I did)
We started in reconstruction ourselves but wound up migrating into water mitigation in the end.
Most of the profit is in the water mitigation.
Keep working and getting better.
You will find your sweetspot.
QUESTION….. after the mit is done and collected. The reconstruction is approved and issued and collected by homeowner. So homeowner has funds for reconstruction. What do you do when homeowner wants to “control” the finances? Is it okay to do a 50% start 50%upon completion? Or do you collect all at first. What do you suggest?
Great question. In short, I would NOT do a 50 - 50 split. We would collect the ENTIRE RECON CHECK up front.
A customer that 100% trusts you would give you the full check. The ONLY REAL REASON they wouldn't give it all to you is simply because they don't fully trust you.
If a customer doesn't FULLY TRUST YOU... you do NOT want to be doing a recon with that person!
You will be putting people inside their home for weeks or even months.
Couple the inconvenience of a remodel / repair with a customer that doesn't fully trust you... bad outcome (and they still have 1/2 your money)
How do you get the full recon check upfront?
You have to practice your salesman chops.
We would lay it out like this...
"... as soon as we collect the funds for the recon, we will get started. The insurance company will issue a check for repairs. You will endorse it and we will deposit the funds and begin the process."
** Keep in mind that there will normally be depreciation withheld in many cases which is held to the end of the job already. This can be the peace of mind they are looking for
There can also be a mortgage company involved in which case you will not get all the money up front because they may want to do some kind of post construction inspection (this is for jobs over $50k)
If that didn't answer your question, reply back and I can take another pass at explaining it further.
Shane
@@TheRestorationContractor thank you I appreciate that! Thank you greatly for your help!
If you take the whole payment here in California it’s against the law you can only get take 1000 as a deposit.
What is 10 and 10?
Good question. 10% overhead 10% profit
Carriers make this assumption for contractors (🤦♂️)
Hi Shane , how do you go about doing a 40 margin profit without altering the 10 & 10 OP in Xactimate
In other words instead of changing OP for 20/20 what do I or what can I change to get that 40% profit
I’m doing MIT & RECON