The Contractor's Compass

The Contractor's Compass Contractor's Compass: Navigating the Business Side of Contracting

Podcast cover art taking shape. Keeping it simple! One step closer!
02/12/2024

Podcast cover art taking shape. Keeping it simple! One step closer!

01/20/2024

Our Superintendent and myself went to look at lots we want to build some spec homes on.

Here we are discussing what things we look for, and what to look out for as well.

01/15/2024

This is one of 9 units I currently have under construction and it is in Carolina Beach, NC. My builds right now are:

1 - Ocala FL
5 - Carolina Beach NC
2 - Kure Beach NC
1 - Wilmington NC

01/07/2024

Here is a hack I use for my builds, this was from Black Friday weekend, but it works on most holidays like Presidents Day coming up, Memorial Day, Labor Day, etc.

12/21/2023

This video shows some sitework and briefly talks about our second build.

12/16/2023

A couple days ago I was at the lot we purchased to build out fist spec home in Ocala FL.

My initial plan was to build to rent.

I decided for the first one in this area I was better suited to build and sell a few to get to know the area better.

I am splitting this one with a local builder.

Numbers look like this:

Lot: 15k
Build: 160k
Realtor fees: $12,450
Closing Costs $5k

Total investment:$192,450

Sale Price: $249,000

Profit: $56,550

My investment in cash: $96,225
Time Frame start to finish: 7-8 months

Return: $28,275 or 29% in 7 months.

My goal is to do 2 of these in 2024.

This is great for me because while I am a GC in NC, I haven’t activated my license in FL yet. And I don’t have to do anything except invest.

I also have 7 new builds going in NC currently, 3 of those will be completed over the next 2 weeks.

9 years ago, I was submitting my first set of plans to build my first spec home as a builder. You have to start somewher...
12/12/2023

9 years ago, I was submitting my first set of plans to build my first spec home as a builder.

You have to start somewhere.

The moment you realize you've spent more time at your client's home than in your own.Time to add 'live-in contractor' to...
12/11/2023

The moment you realize you've spent more time at your client's home than in your own.

Time to add 'live-in contractor' to the resume!

When you're a home services professional, and your friends ask you to help with their DIY projects:'Sure, but I charge e...
12/09/2023

When you're a home services professional, and your friends ask you to help with their DIY projects:

'Sure, but I charge extra for non-paying clients!'

When the client asks for a 'small change' in the plan, and you feel like you're in a home renovation episode of 'Grand D...
12/09/2023

When the client asks for a 'small change' in the plan, and you feel like you're in a home renovation episode of 'Grand Designs.'

True story.
11/30/2023

True story.

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Wilmington, NC
28412

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