Questions on Draw Inspections

Hey guys!!! I have been draw inspector for many years now and have had loads of experience. I am not a Home Inspector, I only do draw inspections because that is what I love to do. I have come in here to help you guys and gals if you ever need help in any form with draw inspections a.k.a progress inspection, or completion evaluations, etc.

Also I know that some of you, from what I have read, do not think they are worth while. But I have made a good living at this sort of business. If you can get your foot in the door with some local banks you can do really good.

Hi Bobby,

Welcome to NACHI and thank you for your offer. I may be taking you up on that one.

I had a client here that did draws for a living. I inspected his $650,000 home and he drives a BMW to his draw inspections. I was really surprised but yes it can be a good living.

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Bob,

I’d love it if you could start out by listing the draw companies that you’ve worked for and which companies you had problems with.

As for nationally known draw inspection companies like DDN and so forth I have a limited experience. I put most (99%) of my business in local Banks. For instance, I do them for Regions (who is number one in construction loans in my area), BB&T, Capital Mark B&T, and FSG. Just in last 4 months have I been doing applications for DDN, Trinity, Granite, etc. I have only done a few for DDN in four months and none for other national companies. That tells me that my coverage area which is Chattanooga TN that a lot banks are not using them. I can see banks in larger markets like Atlanta using them so far they are not as popular as of yet for medium markets like Chattanooga. Plus if you get business from lenders in your area you are not as likely to have to travel as far and you cut out the middle man like DDN.

This topic has lit a fire of interest.
Lets run with it.

This was also under misc. Some more info.
http://www.nachi.org/forum/showthread.php?t=24469

Dick

Bobby who do you talk to for these inspections?
Dana

The best way that I have found on who you need to talk at banks is to go through the doors and ask someone, “Who handles construction loans for builders to build houses.” They usually have a title thats like Residential Construction Lending. The head person in that department is the one who handles who gets hired for draw inspections.

Thank you…thats simple…
Dana:mrgreen:

If there is no middle-man, what is the going rate for doing a draw inspection in the New York/New Jersey metropolitan area? I have heard that some guys that do them on behalf of another inspection company only get $50.00; so someone is making more than that. I just want to get an idea of what to charge if dealing directly with the lender so I don’t price myself out or rip myself off from the start. Any suggestions?

I don’t do any for local banks (yet) but the numbers I’ve seen on past posts is somewhere between 100-150

HomeStreet Bank offers construction financing for both residential and condominium “for sale” housing. Our loan products support both speculative and presold units, with competitive terms and loan pricing. With well over 100 years of combined industry experience.

There are lot many advantages:

Provides an extensive range of non home loan products like Loan for Purchase & Construction of Commercial Property, Loan Against Residential & Commercial Property and Lease Rental Discounting
Pan India branch network
Robust service delivery model – door step services ensuring easy and fast approval & disbursal of loans
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Dedicated team of well-experienced employees who work on best-in-class information systems & network to deliver and provide customer satisfaction
High standards of ethics, integrity and transparency
Various repayment options

You can refer to many links which can be beneficial for you :

http://www.jpost.com/PromoContent/Commercial-Construction-Loans-443146

For more query you can come up with questions.
Thank You!

8 years?

I have done draw inspections and did talk to Granite. Also had a Trinity guy who did draws for some of my projects when I was contracting. Trinity guy made about $25 ea. he did 10 a day he told me but he also drove a 20 year old Honda held together with glue and spit.

Granite wanted me to drive 80 miles 1 way for $100. I would maybe make $25 an hour with Granite so the poster must have another angle as Granite is a big player and contracts with Wells Fargo, Wintrust and WJ Bradley and othhers but pays a percentage.

I agree that you need to walk into a bank and meet the man/ woman in charge of construction lending.

I get paid for 203K loan draws. Same thing.

Old threads never die…

Neither do Internachi members I guess.

I would love to do draws if they paid anything. 8 years ago they probably paid more than now. I get requests to do inspections for $7.50 each, no mileage allowed.

Dave Fitz aka Davee Fitzz and HomeStreet Bank are spammers

Spammers never die, they just get the crappy reputations that irreputable businesses deserve.

Now I have not said that Davee Fitzz is irreputable or that HomeStreet Bank is irreputable as I do not know them. I have not said don’t do business with HomeStreet Bank because they are irreputable, either. However spamming is a practice that is common to irreputable businesses. Does anyone here know if HomeStreet Bank is irreputable?

Bobby I am a new home inspector in TN and want to start adding draw Inspections… where do I start to get this section of my business started? Thanks for your help in advance. You can also email me at safireeyz2@yahoo.com

You can also work with firms like Northwest Construction Control (NWCC). They do nationwide draw inspections and other support services. They’re very efficient with scheduling - allowing inspectors to hit multiple projects in a relatively short period of time.

I have been doing draw inspections for Granite and NWCC for over 2 years now and am looking to move into more of my own operation. I was wondering what type of software you use to produce your inspection reports and what is the prices you charge for your services?