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Methods And Practices

 
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Old 07-07-2020, 10:13 AM   #1
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Methods And Practices


Good morning,

I'm currently working to build a general contractor business, focusing mostly on developments and apartment buildings - maybe some smaller industrial projects since that's where most of my experience comes from, but I don't have the cash to get into that game yet. I'm flipping a few houses right now, after work and on the weekends, to build capital to start the business. I've been spending a lot of time reading through these forums, and I sometimes find myself overwhelmed by the sheer volume of expertise provided by everyone here. I truly appreciate it.

That being said, I only have a couple years of experience in hands on building, back when I first got out of high school. I'm gaining a little bit of experience DIY flipping houses. So long story short, I simply don't have the skillset to actually direct day to day residential construction. All of my experience is on the business and management end of things, a decade or so of industrial project management experience.

When things start popping off, I'll need to find a really solid foreman to fill in my gaps in knowledge, but if there's one thing I hate.... it's being the boss that doesn't know enough to know what he's asking for. I need to understand the ins and outs of methods and practices. I have a couple of good friends in the industry, and they are happy to help, but I'm wondering what you guys would recommend for resources? Books, seminars, courses, etc? I've bought copies of the building codes books, and I've found a couple good ones by David Gerstel, I'm sure there are some other great resources out there.

Thanks!

Last edited by Astra; 07-07-2020 at 11:09 AM.
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Old 07-07-2020, 10:56 AM   #2
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Re: Methods And Practices


Just because you’ve been on some industrial gigs pointing fingers don’t make you any different or superior to anybody. Flipping houses in your spare time won’t get you to industrial level if that’s what your after. The school of hard knocks don’t come over night & with a little research you can find plenty of books to help you along. Plenty of guys on here with degrees so not sure where the unlike most on here comes from. Be ready for gritty subs, smart arse vendors, forever changing markets, setbacks, impossible clients & many sleepless nights. Can you count on those friends when the pantry is bare. Other than that good luck

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Old 07-07-2020, 11:12 AM   #3
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Re: Methods And Practices


Hi Kingcarpenter,

I appreciate your response. It looks like listing off some of my credentials made my post come across as snooty. I apologize for that, I've edited my post to correct that.

My point about having the opposite problem many have is because I know the business side, but not so much the hand on. Most contractors I know came up through the ranks and their biggest challenge is the opposite of mine, that's all I meant.
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Old 07-07-2020, 12:00 PM   #4
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Re: Methods And Practices


Read all the books you can find by Dave Gertsel.

Look on amazon.
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Old 07-08-2020, 10:04 AM   #5
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Re: Methods And Practices


Quote:
Originally Posted by griz View Post
Read all the books you can find by Dave Gertsel.



Look on amazon.
For sure

Nail your Numbers

Running a Successful Construction Company

The Considerate House

The first two are the best publications on residential construction i have come across

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Old 07-08-2020, 11:52 AM   #6
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Re: Methods And Practices


Start small and work your way up. Invest into the business infrastructure; equipment, technology, etc. Retain cash in the business from your profits rather than pocketing it all so you can do projects without borrowing.

Your little dilemma is not unusual at all. Many successful contractors are much better at the "business" side of things; accounting, estimating, sales, design work, etc. and skilled foremen and supervisors who handle all the day to day in the trenches building stuff, keep the jobs moving, etc.

If you can find a good lead man to help you build your business, you need to cut him in on the action by giving him some company ownership or a structured bonus program where he gets to keep a percentage of the company profits.
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Old 07-10-2020, 09:16 AM   #7
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Re: Methods And Practices


Thanks for the input guys, this is very helpful.

What would you consider to be a competitive bonus structure for a foreman?
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Old 07-10-2020, 10:21 AM   #8
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Re: Methods And Practices


Numbers questions are frowned on here as all regions & markets are different, I’m going to leave it @ that. One of the mods will be along shortly
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Old 07-10-2020, 10:58 AM   #9
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Re: Methods And Practices


My question was about structure, not numbers.
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Old 07-10-2020, 11:33 AM   #10
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Re: Methods And Practices


Briefed through it quickly sorry

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