Blog & Articles

Blog2020-10-13T17:08:24-05:00
1212, 2020

Smart Marketing Finds New Customers

Renovation Contractor Marketing Finds New Customers How are renovation contractors marketing successfully during a pandemic? Finding your next customer is crucial. Here’s how rehab contractors do marketing to win more customers and deals – online, by phone, in person, and with videos. Your website needs to do these jobs  Your contracting business needs a website. Why? Because most people find a contractor through an online search: 93% of people start with online search. 90% search on Google. 75% look only at page-one results. To be competitive in the eyes of your customers, your website must: Appear attractive, with a professional logo and design. Be easy to navigate with a clear menu. Scan and read quickly, since users spend <15 seconds on an average page. Offer complete information about

1411, 2020

Hot housing market creates fix and flip opportunities

Hot housing market creates fix and flip opportunities Note: Our blog for Nashville-area home builders shares a smarter way to set up and run your home remodeling business. It appears on the second Saturday of each month. Subscribe here. In today’s hot residential real estate market, home rehab contractors occupy a sweet spot. Why? The U.S. housing market is hot Lots of buyers are looking for new homes. Some need lower payments. Others want to trade up. As a result: Existing home sales hit a 14-year high in September 2020, said the National Association of Realtors. Housing inventory declined to 2.7 months’ supply, a record low. Median home prices rose nearly 15%, compared with a year ago. Fix and flip opportunities produce profits, but banks are squeezing borrowers Here’s a 15-year

1010, 2020

Smart Home Builders Focus on Survival Today, Preparing for Tomorrow

Smart Home Builders Focus on Survival Today, Preparing for Tomorrow Renovation contractors need to survive these tough times to position for growth in the future. Note: Our blog for Nashville-area home builders shares a smarter way to set up and run your home remodeling business. It appears on the second Saturday of each month. Subscribe here. Today, home builders face a perfect storm in the renovation market: Demand for reconstruction and remodeling is strong. But existing houses available for sale are scarce, with the smallest inventory since 1982. Despite low interest rates, right now is the hardest time for buyers to qualify for a mortgage in the past 6 years. Good News: Strong Demand. Bad News: Labor and Material Costs Increase The good news is that demand for

1209, 2020

Opportunities for renovation contractors are building

Opportunities for renovation contractors are building due to rising demand, a limited inventory of homes, and families’ changing housing needs. Note: Our blog for Nashville-area home builders shares a smarter way to set up and run your contracting business. It appears on the second Saturday of each month. Subscribe here. The current recession is affecting real estate unevenly. Retail stores and office buildings are hurting as tenants move out. Yet housing is still going strong due to rising demand, a limited inventory of homes, and families’ changing housing needs. Sales of previous owned homes rose 20.7% in June, says the National Association of Realtors. As sales of existing homes rise, opportunities for rehab contractors are growing. What’s more, the outlook for housing is bright, says the National

808, 2020

Overcoming Problems as a Rehab Contractor

Rehab Contractors Overcome 3 Key Problems to Succeed by Rudolph Francis, M.D. Note: Our blog for Nashville-area home builders shares a smarter way to set up and run your contracting business. It appears on the second Saturday of each month. Read all the blogs here. We see great opportunities ahead for new rehab contractors. But first, the bad news: most new building contractors fail in the first 5 years. Usually, it’s because they fell into these 3 traps: Hiring the wrong people Tackling the wrong projects Not leading, learning, and adapting. Rehab Contractors, Use a Process to Hire the Best People Construction is a people business. And good help is hard to find: 4 out of 5 contractors have trouble finding skilled workers, says the Associated General Contractors. The better

1107, 2020

Renovation Contractors See a Once-in-a-Lifetime Opportunity to Rebuild

Renovation Contractors See a Once-in-a-Lifetime Opportunity to Rebuild by Rudolph Francis, M.D. Note: The Beacon blog for Nashville-area home builders appears on the second Saturday of each month. Read all the blogs here. Many craftspeople think about starting up their own contracting business. If you’re thinking about it, this blog is for you. Most people build a construction business by trial and error. They launch with a truck, a toolbox and a project. Short on cash, they have to bootstrap their way – for example, depending on deposits from future projects to finish current projects. This blog gives you a smarter way to start your business. First, let’s size up the renovation opportunity. More and More Homeowners Want to Rebuild, Creating Opportunity for Renovation Contractors Demand for home renovations is

1306, 2020

How to Keep Your Contracting Business Going Through Today’s Crisis

How to Keep Your Contracting Business Going Through Today's Crisis by Rudolph Francis, M.D. Note: The Beacon blog for Nashville-area home builders appears on the second Saturday of each month. Read all the blogs here. For home buyers and sellers, a perfect storm is under way: Mortgage rates are low. But banks have tightened lending standards, so fewer buyers qualify for a traditional mortgage, says Bankrate. Home sales may fall 60% this Spring, and home prices may fall in 2020, forecasts Zillow. These are tough times for contractors, particularly if you renovate residential properties. In April, renovations, additions and alterations shrank by one-third compared with March, says BuildFax. About 2 out of 5 contractors laid off employees, reports the Associated General Contractors of America. 3 Ways to Keep Your Contracting

1405, 2020

COVID-19 & 3 Ideas to Help You Through Today’s Crisis

3 Ideas to Help You Get Through Today’s Crisis by Rudolph Francis, M.D. Note: The Beacon blog for Nashville-area home builders appears on the second Saturday of each month. Read all the blogs here. The COVID-19 crisis has dealt a body blow to the U.S. economy. Home buyers are in financial distress. About 1 in 5 Americans, or 26.5 million people, are out of work. Even for people who have a job, it’s hard to get a mortgage. That’s because banks are tightening lending standards. They require a 20% down payment and a credit score of 700 or more, NBC News reports. As a result, home builders’ confidence dropped from 72 in March to only 30 in April. It’s the largest drop ever in the NAHB/Wells Fargo Housing Market Index

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