Value of Cash

50% is a huge advance. I would not have done that. But I wouldn’t worry until it’s time to worry. I’m sure it will work out……. On the other hand maybe the contractor is sick of getting jerked around by customers. And wants some assurance
My rule is to pay only after the job is complete. I have made some advance payments for materials needed, such as paint, etc. I am fortunate to have several jack-of-all-trades handymen who can do about any job needed and I have used over many years. Just had one of them paint my kitchen and bathrooms this week.
 
Thus far I've had pretty good luck with the contractors working on the rehab jobs needed here. The 50% upfront seems to be an "industry standard" these days. My plumber likes cash, but none of the other businesses seemed interested, which surprised me. Also, I've had no trouble getting people out to estimate for work, which definitely wasn't the case a few years back when my buddy was trying to get stuff done. Can't work out what has changed.
 
Your going to hear every end of the spectrum, I have been ripped off by the best and in both cases greed on my part was responsible. When the deal seems too good to be true, it most often is. Somebody once said "You pays your money and you takes your chances." The contractor we hired many years ago came highly recommended, we just caught him at the wrong time and he was running from another job gone sour. He had all of the credentials, business license, etc. but they were all in his father's name as was his business site. It turned into the perfect storm for him, we did prosecute him, received about 10% of what was owed before he lit out. We have also been rewarded by guys doing work for us paying them in cash, I am thankful to say more good than bad. I got along ways with the Canadians I had help me with a restoration of a lake cabin by paying them in cash and stopping at the duty free to pick up a 24 of soda pop Kokanee they drank to stay hydrated.
Cash is still king when dealing with workers on a job, its worthless in most retail purchases. Its funny but all purchases used to be cash or check...I guess cash purchasers got a discount because of the check recorded, haven't given that much thought. I never had a credit card until I bought a house in '74, I did have checking account that payed most of my bills, don't recall taking it with me to the hardware store but I must have. I know that well into the mid 70's I could get a discount for cash even at the hardware store, that is where most of my purchases were made, that and groceries, paid cash for gas...which was my first credit card a Conoco gas card.
 
Hey Peak53 - Best of Luck on your Move.
Where are you moving to?
As I have posted, I’ve been all over CO but never to Tincup.
Closest I ever got was about 10 miles away.

Pilgrim, if you got to within 10 miles (St. Elmo perhaps?) you were almost in the neighborhood. Great country that I've been hanging out in for 70 years. :)

I'm staying in Tincup as long as I am able. At 71, the handwriting is on the wall, but I've still got the desire and the ability to do the work. Only problem is that the cabin is not on a plowed road, so it is snowmobile or tracked side-by-side 6 miles for access about half the year. And the wood heat as primary source warms me twice.

So, I'm selling my "second home" in busy Colorado Springs and plan to buy somewhere "down valley" where I can retreat when the situation demands, but still have some peace and quiet. Plowed road and no stairs are critical. I wanted to get this move done while I still have the ability to do most of it myself. Of course, it doesn't hurt that my downtown neighborhood is booming, and my 1888 Victorian is in high demand ;). It also feels good to get rid of a lifetime of accumulations (all guns are staying home) through sales and donations. The next house will be smaller and not have as many closets, I hope.
 
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Thanks for all the advice regarding contractors, paying up front, etc. I have zero concerns with this painter. Like most of us, I've been burned a time or two and have learned from the experience. This painter is next door neighbor to my realtor, whom I have known for 24 years. He just painted the realtor's exterior (which I inspected) and the agent refers all his clients to the painter for painting needs. This is a "good ol' boy deal." He sent me a contract with a docu-sign type of arrangement. He's for real. I also find that lots of services require 50% down, from body shop, to snowmobile repair, to you name it. I'm over it with what I deem to be a legitimate business.

The thread was really supposed to be about how cash can sometimes grease the wheels and move the time frame along. Love this place!

The threa
 
In Spanish: El effectivo.
Hebrew translates: The ready necessary
English bettors: Twenty pound notes are “readies.”
Go to you tube and watch Abbot and Costello’s “loafing.”
 
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