I am starting a company that will hopefully help you guys get in touch with lenders and charge what you want. Price has been the biggest complaint in here when it comes to national draw inspection companies.
What this company is going to do is cut out the middle man, a.k.a. DDN, Trinity, Granite, and etc. I am going to be a “match maker” company for lenders to find draw inspectors in the area needed for the inspection.
This is how it will work. The lender will contact me and tell me the area needed for the inspection. I will find an inspector for that area & give them a call to see if they are interested.
If he/she is interested I will pass along the contact info to the lender. The lender will then call the inspector and both can agree on a fee price and what the requirements will be for the lender. I in turn will make the draw sheets as an added service depending on the type of home construction and supply them to the lender and the inspector.
I already have a conference call set up with a lender in Penn that does loans all over the country and is interested in this service.
So I hope to help some of you in getting some draw inspection business and set your own price with the lender.
NO MIDDLE MAN!!!
If you are talking about the fee for the inspection that would depend on what the lender and inspector agree to. In other words you can set your own price as long as the lender is willing to accept. I would have no influence on inspector pricing.
My fee will be with the lender not the inspector.
Bobby, you have good intentions but in the end you will end up in the middle and will eventually have to charge for you involvement which in turn will increase the cost of the inspection.
I refuse to be in the middle but I don’t really see how I would get in the middle. It will be up to the inspector to do what is needed by the lender. I will let the lenders know that I do not represent the inspector in any way. Just an outlet to find one. If the lender does not like the work that an inspector does, then I will find them another one.
Bobby, you obviously have something going for you, anyone who can do 20 draw inspections in a day and get the reports out must have a system, a marketing plan, and a profit and loss cost analysis. Maybe what you should do is package it so the average inspector can go out and market the lenders in their area and keep all the profit for themselves. Hell knows, we have room for another vendor!!!
In my opinion the reason why I can do draw inspections so fast is because of the way it is set up here in my area with local lenders. I go by a simple draw sheet that the lender provides or one that I have provided for them. I have posted a link to one of them in past threads. With DDN, Trinity and others thier draw sheets are more complicated but the reason why is so those companies can do there “quality control”. Mine are so simple and fast, plus the builders like them better as well. When the house is up to the framing stage you don’t even have to get out of your vehicle.
That I believe has some value!
As far as price to charge, you would have to come up with that. I wouldn’t begin to know how to assign value to something unseen.
Again, I have no intenions of being the middle man nor do want to be. I want to increase the rates for inspections like everybody else. It will be inspector lender not me in the middle. The inspector and lender will work together without me. I just bring the two together. Plus I doubt DDN was doing this. They want the money from the draw inspection, I will have a small fee to the lender for finding the inspector.
Only difference is DDN pays us 35 or so dollars per inspection. Using Mr Skinners “portal” for getting lenders to come to you, you negotiate the fee with the lender; which will be more than the $35 depending on what you negotiate with the lenders.
But in my opinion, lenders can eliminate confusion and eliminate 2nd or sometimes 3rd hand information.
One thing I don’t like about DDN is that once you send your report it then goes to a “quality control” dept and then they review the % and photos. Then they make the adjustments to the % as they see fit. Which urks me, why the hell ask me for % when they are going to go behind me and change it in most cases.
I’ve had some pretty pissed builders contact me because they said I screwed them over on the % and they didn’t get their requested draw amount. I went back to check and that is when I asked DDN why the % was changed, that is when I learned how they do things. Many of the folks making the adjustments have no idea about construction.
My DDN and draws are beginning to dwindle anyhow. I used to have about 6 or more a week, now it’s down to about 1 a week.
