Path to become a builder: Get an engineering and or a business degree. Work for another builder for many years. Marry a doctor who can support you for three years of not turning a profit.
Graduating in construction management this semester, I have a $70k job offer but really want to start home building rather than going into commercial, any advice is greatly appreciated!!
@@8494red I just don’t have any cash flow right out of college so a bank is not going to loan money for a spec home and a buyer likely won’t put much trust in my experience for a custom home. I have thought about doing a custom home with cost plus and being completely transparent with the buyer and also reducing my fee to something like 8% just so I can get the experience, but I’m still not certain in that being the best option.
Assuming you don't have a building licence yet you'll need to work under another builder for a few years if you're in Victoria. Don't settle for bad terms, first project sure but once you do a good job jack those prices up
@@jackpublic6049 currently I am being offered commercial PM jobs with around 90k entry salary. I’m located in TX and would prefer to work with another local builder but those salaries are much lower than what I’m being offered. I might take the commercial opportunity and bootstrap my business with that pay. I also create construction drawings which might be a way of funding a company for a bit. Any advice is appreciated.
So glad you did this interview, and that I found it. Very insightful. One question I have - to build my own spec house, do I need to have a license? Maybe the rules vary by state?
Done a lot of research on that today and it seems that you’re able to if it’s less that 100-200 sq ft depending on where you’re building but I even saw a guy on here with a 100ft shack that was getting investigated
If you’re going to build a house for yourself, personally, no. But if you’re going to build it and sell it, yes. Some states are stricter than others. A few states, you can pay the state a few hundred bucks and you’re good. Others, you’ll need to pass an extensive exam AND pay the state.
@@reagomyeggo Thanks, do you think I could study for the exam and pass it if I'm somewhat familar with remodeling? Or do I need to become and apprentice or go to school or take classes before the exam?
A lot of these track home builders, the way they stay afloat and make money is they don't even build the homes until someone is refinanced or has already paid for the home in general if they got cash, before they even start building the home. So basically the bank or a company or a person is handing these home builders the money up front and they're taking that money and building a home for them. Instead of being a private investor to where you buy a plot of land and you put your own money up and build a home and then hope to sell it for a profit, which would be easy to do and make money right now but if the economy ever goes bad while you're doing that on a regular basis you're eventually going to get caught holding the Hot Potato. It's easy to say do that right now and you'll be successful because the housing market is crazy. But just like anything else, all good times come to an end eventually so you just can't assume the good times are going to keep rolling with the housing market. But I believe in the other the way of doing things which is how these track home bigger companies do it to where they get paid up front and then build a home.
Path to become a builder: Get an engineering and or a business degree. Work for another builder for many years. Marry a doctor who can support you for three years of not turning a profit.
lol yea, I noticed that.
You speak so well Matt! I can see the experience talking.
Keep such interviews coming. Thanks
His video with #HeathHicks & yours, have been some of the biggest helps getting the word out about #Euroshield. Thank you both!
I’ve always wanted to be a builder when I grow up
Graduating in construction management this semester, I have a $70k job offer but really want to start home building rather than going into commercial, any advice is greatly appreciated!!
Start the business
@@8494red I just don’t have any cash flow right out of college so a bank is not going to loan money for a spec home and a buyer likely won’t put much trust in my experience for a custom home. I have thought about doing a custom home with cost plus and being completely transparent with the buyer and also reducing my fee to something like 8% just so I can get the experience, but I’m still not certain in that being the best option.
Assuming you don't have a building licence yet you'll need to work under another builder for a few years if you're in Victoria.
Don't settle for bad terms, first project sure but once you do a good job jack those prices up
@@jackpublic6049 currently I am being offered commercial PM jobs with around 90k entry salary. I’m located in TX and would prefer to work with another local builder but those salaries are much lower than what I’m being offered. I might take the commercial opportunity and bootstrap my business with that pay. I also create construction drawings which might be a way of funding a company for a bit. Any advice is appreciated.
Learn as much as you can with someone else or at a solid company first then open your own business and do both commercial and residential
Is it a good idea to start at building tiny homes?
Спасибо за видео. Пока далековато, но будем двигаться к цели)
So glad you did this interview, and that I found it. Very insightful.
One question I have - to build my own spec house, do I need to have a license? Maybe the rules vary by state?
Done a lot of research on that today and it seems that you’re able to if it’s less that 100-200 sq ft depending on where you’re building but I even saw a guy on here with a 100ft shack that was getting investigated
thanks @@noksi3005
I think 100-200 sf would not even be considered a house in most cities. @@noksi3005
If you’re going to build a house for yourself, personally, no. But if you’re going to build it and sell it, yes. Some states are stricter than others. A few states, you can pay the state a few hundred bucks and you’re good. Others, you’ll need to pass an extensive exam AND pay the state.
@@reagomyeggo Thanks, do you think I could study for the exam and pass it if I'm somewhat familar with remodeling? Or do I need to become and apprentice or go to school or take classes before the exam?
A lot of these track home builders, the way they stay afloat and make money is they don't even build the homes until someone is refinanced or has already paid for the home in general if they got cash, before they even start building the home. So basically the bank or a company or a person is handing these home builders the money up front and they're taking that money and building a home for them. Instead of being a private investor to where you buy a plot of land and you put your own money up and build a home and then hope to sell it for a profit, which would be easy to do and make money right now but if the economy ever goes bad while you're doing that on a regular basis you're eventually going to get caught holding the Hot Potato. It's easy to say do that right now and you'll be successful because the housing market is crazy. But just like anything else, all good times come to an end eventually so you just can't assume the good times are going to keep rolling with the housing market. But I believe in the other the way of doing things which is how these track home bigger companies do it to where they get paid up front and then build a home.
Unless you have money and subcontracting experience, then you can go on your own without having to work for someone else.
👍👍👍👍👍
Very nice video.
Good information.