Renovate in Texas Doubles Its Business with GoBuild

John, Texas
·
July 20, 2022

Intro

John Wasley of Renovate in Texas is no newcomer to the construction industry. With over 30 years of experience, John has truly seen it all. As a residential contractor in the booming Austin market, John has experienced a huge surge in demand in recent years. Yet despite his desire to grow his business, he felt hamstrung by limits on his cash flow and working capital. John didn’t want to go through a long and arduous process to receive a loan and found that traditional financing companies couldn’t move at the speed of his business. When John got set-up with GoBuild, he was able to take on more projects with confidence, and has since more than doubled his book of business.

Onboarding and Personal Touch of the Team

When John first came across GoBuild, he had already been actively looking for ways to grow his business. He had gotten in touch with a renovation financing company, but had been dismayed by their high fees and cumbersome process. When John heard about GoBuild’s working capital advances, quick turnaround time, affordable rates, and payments platform, he jumped at the chance to try it out:

“Getting onboarded with GoBuild was easy, painless, and quick,” says John.

The team was responsive and always available to answer any questions. John was even able to meet with Drew Barrett, one of GoBuild’s founders, in Austin. Connecting in-person left John with a great impression about the personal touch GoBuild brought to their approach. “Drew is now a part of my construction ‘family’,” says John, and the experience has left him confident about working with GoBuild.

Working with GoBuild

Before GoBuild, John was limited by his cash on hand. If he wanted to take on more projects, he’d need to dip into his bank account and float lots of material expenses, labor costs, and risk over-extending himself. With GoBuild, John gets access to the working capital he needs at the start of each project with an advance of up to 65% of the total project value. The remainder is released at agreed upon project milestones. Plus, he has a competitive selling advantage against other firms in Austin:

“Being able to offer $500 down payments to homeowners is a HUGE advantage,” says John.

In Texas, homeowners are usually expected to put down as much as 50% of the project cost up front before work begins to secure their place in the construction queue. Because GoBuild advances John the funds and handles payments with the customer, homeowners do not need to commit much cash up front, and can get started with as little as $500. Thus, homeowners are much more likely to get started with a project, and yet John can still feel confident about payment follow through because he is receiving his funds from GoBuild.

The Results

Before

After

Since partnering with GoBuild, John has completed over $2 million worth of projects - more than double his pace from prior years in business. And despite growing his revenue significantly, John says GoBuild has actually helped reduce his stress level:

“Friday mornings used to be terrible. Payment reconciliations were a mess and always so stressful – I used to hate Fridays. With GoBuild, a lot of that stress has gone away.”

Payments to and from homeowners can be handled through GoBuild’s payment platforms with less headaches and manual accounting.

With GoBuild, John feels confident about taking on more projects in Austin, and is also beginning to think about expanding to Dallas.

We know John will take Renovate in Texas to new heights and deliver amazing construction experiences to folks all across the state!