I'm wondering what your advice would be to a contractor telling you that you need to be bonded (insured) in other words you have to have an insurance company peg your assets against liabilities. I dont have many assets as a subcontractor so a lot of companies won't even go near me unless I'm bonded even tho I'm really good at what I do
Great question. So a bond is not considered insured. Essentially a bond protects the owner in case you walk off the job. If you need to he bonded, just contact a bonding company and get bonded. Based on your company history, they’ll approve you for a certain amount.
Getting the contract is one thing but making the profit and finishing the project is one thing. Can you give update on that client that got that 20 million job? Did they profit?
Of course. His OH&P is 40% and his Net profit is about 30%. He is in a small niche of plumbing for major Home developments, which he doesn’t have many competitors. Also plumbing tends to be a high margin trade.
I am getting lots of commercial jobs opportunities ; I am struggling with estimating, complying with rules/regulations and reading the lengthy contract documents. please advice
I live in North Carolina, I do before taxes 1.6 million doing residential stone work (synthetic and real stone veneer, flag stone and travertine/marble pool decking) I got good reputations on quality, but I never did any advertising, because I need home owners and not builders that want to pay next to nothing. Is there anything I can buy or learn from you to go bigger but with qualified customers....?
Yea good point. So in my system I teach you to find a lot of leads, so we can test the clients, and filter our list. Typically the goal year #1 is to bid a lot of jobs for a lot of GCs and find 2-3 that we want to align with long-term that we deem worthy. I have a whole system and strategy behind it if you’re interested.
Hey buddy I live in NC myself and I know what you mean most contractors are around my way are just flat out greedy and you can’t trust all my business was word of mouth because my work was seen my issue was I couldn’t scale because I absolutely could not find any decent help just wanted a paycheck for showing up I had no problem paying good money for good work but it was so hard to try and scale because I was always having to work and be on the job to get these guys to work I had one guy that was awesome but he couldn’t control himself if you know what I mean would just disappear on me but covid came and I had to go as hard as I could to keep everything going and between people being scared for someone to come to their house or doing the work and they wouldn’t pay it’s one thing to get got for some time but material and time killed me towards the end I a company called and I couldn’t turn it down but it’s time for me to get back on it I miss it I took some time educated myself I know what to do now I have to keep myself from picking up a hammer again so I can focus on my business and my customers but if there’s anything I can do please let me know I think I can help you with what your asking about if not I wish you nothing but the absolute best of luck truly sounds like you have done very well for yourself I know how hard and frustrating it can be sorry kinda rambled on there but hope I can help
You don’t need the Master List. It just gets you some quick wins. You do need to build a Lead system. You have to reach out to local general contractors, get on their bid list, and then you have to have an estimating system so you can bid 5 to 10 projects per month to start. If you’re interested, I teach you how to do this inside of my training program if you wanna learn more here as a link. iambuilders.com/8fc
Hi good evening may God keep blessing you. I have sent a message and I received no answer. Please I need to set up a meeting with you for my business. How we can do this when I cannot be able to call you. And you do do not see the messages.!!??
You can but it’s a very niche market. The best thing you can do is fine the contractors and architects that are doing this type of work and build really good relationships with them.
The video ive been waiting for
Awesome man. I’m glad. Let me know if I can help.
Perfect timing! Thank you!
Changing our retail model to subcontractor status ❤️
That’s awesome. What do you mean? Tell me more.
Thank you, for sharing all this information..
There is a precision welders available in Az? Right now?
I hhave a mechanical insulation company..how can i figure out how to eatimate bids for my trade..on the blue book
Great Info!!
Hello, how we can make an online meeting for more information about starting a construction company in canada, i have already a company in ivory coast
Im moving to Florida is there a demand for commercial subs framing and drywall?
I'm wondering what your advice would be to a contractor telling you that you need to be bonded (insured) in other words you have to have an insurance company peg your assets against liabilities. I dont have many assets as a subcontractor so a lot of companies won't even go near me unless I'm bonded even tho I'm really good at what I do
Great question. So a bond is not considered insured. Essentially a bond protects the owner in case you walk off the job.
If you need to he bonded, just contact a bonding company and get bonded. Based on your company history, they’ll approve you for a certain amount.
I was 384 thank you for your videos
Looking for the best team possible if available right now
I think visiting offices is better than calling
Of course. Visiting is always better.
Getting the contract is one thing but making the profit and finishing the project is one thing.
Can you give update on that client that got that 20 million job? Did they profit?
Of course. His OH&P is 40% and his Net profit is about 30%. He is in a small niche of plumbing for major Home developments, which he doesn’t have many competitors. Also plumbing tends to be a high margin trade.
I am getting lots of commercial jobs opportunities ; I am struggling with estimating, complying with rules/regulations and reading the lengthy contract documents. please advice
Let’s talk. I can help you. Set up a call here to see how we can help: iambuilders.com/call
Good Video. Just a long one. :)
All in?
I live in North Carolina, I do before taxes 1.6 million doing residential stone work (synthetic and real stone veneer, flag stone and travertine/marble pool decking) I got good reputations on quality, but I never did any advertising, because I need home owners and not builders that want to pay next to nothing. Is there anything I can buy or learn from you to go bigger but with qualified customers....?
Yea good point. So in my system I teach you to find a lot of leads, so we can test the clients, and filter our list. Typically the goal year #1 is to bid a lot of jobs for a lot of GCs and find 2-3 that we want to align with long-term that we deem worthy. I have a whole system and strategy behind it if you’re interested.
Hey buddy I live in NC myself and I know what you mean most contractors are around my way are just flat out greedy and you can’t trust all my business was word of mouth because my work was seen my issue was I couldn’t scale because I absolutely could not find any decent help just wanted a paycheck for showing up I had no problem paying good money for good work but it was so hard to try and scale because I was always having to work and be on the job to get these guys to work I had one guy that was awesome but he couldn’t control himself if you know what I mean would just disappear on me but covid came and I had to go as hard as I could to keep everything going and between people being scared for someone to come to their house or doing the work and they wouldn’t pay it’s one thing to get got for some time but material and time killed me towards the end I a company called and I couldn’t turn it down but it’s time for me to get back on it I miss it I took some time educated myself I know what to do now I have to keep myself from picking up a hammer again so I can focus on my business and my customers but if there’s anything I can do please let me know I think I can help you with what your asking about if not I wish you nothing but the absolute best of luck truly sounds like you have done very well for yourself I know how hard and frustrating it can be sorry kinda rambled on there but hope I can help
Dxvvft
What’s a good CRM app?
We are currently building one for construction, but a basic sales one is Bigin, Zoho CRM, or even keeping it simple with Excel!
what happens if you just relocated and you dont have a master list?
You don’t need the Master List. It just gets you some quick wins.
You do need to build a Lead system. You have to reach out to local general contractors, get on their bid list, and then you have to have an estimating system so you can bid 5 to 10 projects per month to start. If you’re interested, I teach you how to do this inside of my training program if you wanna learn more here as a link.
iambuilders.com/8fc
New subscriber CAN'T BID THIS JOB?
•CAN YOU PUT ME ON YOUR BID LISTP
• WHAT ELSE DO YOU HAVE COMING UP?
💯💯💯
Hi good evening may God keep blessing you. I have sent a message and I received no answer. Please I need to set up a meeting with you for my business. How we can do this when I cannot be able to call you. And you do do not see the messages.!!??
Hi Raquel. I’m not sure what happened! Set up a meeting here: iambuilders.com/call
2 spots left
What do you mean 2 spots left?
Can you do this with commercial solar
You can but it’s a very niche market. The best thing you can do is fine the contractors and architects that are doing this type of work and build really good relationships with them.
@@iambuilders thank you so so much I love your channel