Podcasts about contractors

Tune in for a conversation with special guest Jared Johnston of JJ Landscaping.Connect with Joshua at:The WebsiteThe Facebook GroupDesign & Sales Master ClassesSubscribe to Outerspaces on your favorite podcasting platform and never miss an episode!

Cyber security is something for tech companies, banks, and nerds to worry about right? Cybersecurity is something for tech companies, banks, and nerds to worry about right? Yeah, in 2010 maybe, but not anymore. There has been a STEEP rise in the number of attacks on small businesses in the last few years and contractors are a prime target for hackers. Why? Because in the trades we work with big chunks of cash AND we're generally pretty terrible with tech stuff like firewalls and ransomware. To a hacker, we're the prime target. Highlights: - What is going on at a high level that is leading to an increase in cyber security in the contracting community - The assets of value that hackers are looking for in a typical contracting company and how to protect them - The most common threats and attacks you'll be targeted for as a contractor - What it costs you to buy security vs pay for damages - The 4 stupid things most business owners do that leave themselves open to hacking - How to tell if the software has legitimate security measures in place Watch the episode on PCA Overdrive PCA Overdrive is free for members. Not a member? Try our 30-day, free trial; $5.99/mo after. Download the app on the Apple Store or Google Play. Become a PCA member

On this week's episode of Out of the Hourglass, Kathryn Freeman, NCG Sr. Business Coach and Director of Operations welcomes a new guest: Nicole Hanik, Chief Integration Officer at Painters USA. In this compelling conversation, Kathryn and Nicole tackle the topic of Continuous Process Improvement and the need to incorporate technology. As the CIO of a 40 Million + Organization with 3 locations, Nicole thrives on the challenge to find efficiency opportunities. From technology analysis at different revenue sizes to implementation of new processes throughout the organization, Nicole is orchestrating all the required components of the strategy to achieve the short- and long-term business goals of the company.

There are two rules about financials that I was taught early in my career, which honestly, I didn't understand the significance of at the time. But now as I've seen the consequences of not following those rules, I understand perfectly why they were emphasized so much. Not following these particular rules are the two most common and dangerous mistakes I've seen business owners make when it comes to financials. What are they? Tune it to find out!We are very excited to announce that Brian has just finished developing three new mini-courses. Each one focuses on a primary subject – either people, processes, or profitability.So if you're tired of struggling to get through to your employees, or you know you need to get processes and procedures started or dialed in, or you want to understand your financials much better than you do today, go to serviceindustrysuccess.com and schedule a no-stress call to see if one of these courses are right for you.Each mini-course is priced at less than $500, and includes several video modules you can watch as many times as you want, and each also includes 2 Zoom calls with Brian.Schedule your no-stress call at serviceindustrysuccess.com today!

Brian Clayton is the mastermind behind the revolutionary app Green Powell which has taken the home care industry by storm. He is he to tell you how he started his first company and then sold it to being another! This is a truly incredible episode that every person who is looking to grow their business quickly and still be able to take that dream vacation every year!

The year is coming to an end, and for many contractors, that means working with your CPA to get financial statements. These statements can be done at four different financial assurance levels with various indications for your business. Learn about each on this week's episode. Topics we cover in this episode include:What is a financial assurance level and why might I need one?Reasons contractors may need an audit Why you should do your research before paying for an auditTerm AuditReview levelCompilation levelPreparation levelLINKSVisit the episode page at https://contractorsuccessforum.com/assurancelevels for more details and a transcript of the show.Find all episodes and related links at ContractorSuccessForum.com.Join the conversation on our LinkedIn page: https://www.linkedin.com/company/contractor-success-forumFIND US ONLINERob Williams, Profit Strategist | IronGateESS.comWade Carpenter, CPA, CGMA | CarpenterCPAs.comStephen Brown, Bonding Expert | McWins.com

What are the steps I should take to vet my Chicago contractors? Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Bolanle Ogunmakin, Quality Builders Link: Straight Up Chicago Investor Episode 76 ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

Mark Cassity is a proud dog trainer and works with police depts, veterans orgs, and much more. Mark spent 2 years Afghanistan as a civilian contractor with his own Explosive Detection dog. He spent his time at ECPs looking for bombs and he saw a lot of stuff. He owns Aktiv Dog training in the Lake Geneva area.

The Contracting Handbook podcast is all about the builders and skilled tradesmen and tradeswomen in the construction industry from all over the world. Here you'll meet the tradespeople who took a leap of faith from working their craft to running the own construction company. You'll meet people who left lucrative careers to enter the trades. For newcomers to running a construction business, there is a ton of advice on “how to” run your contracting company. For established contractors, you get to meet other industry leaders and get behind the scenes of their business and stay up to date with industry change. Mike Knoche, your host, keeps the conversation interesting. He's been operating his contracting business for over 15 years in the oddly wonderful, Fairbanks, Alaska. Mike's philosophy is “we are all experts in how we build where we live, but the business basics and business management are universal”. Join us for this global conversation on operating a construction company, mental health, cool projects, and construction industry progress. Host: Mike KnocheWebsite: The Contracting HandbookInstagram: @thecontractinghandbookVenmo: Mike-Knoche-1info@thecontractinghandbook.com Guest: Fiona PlettInstagram: @herself_contracting

We've all watched in awe as the U.S. Department of Health and Human Services (HHS) Office of Inspector General (OIG) began investigating the Medicare Advantage plans. Many were thinking, “it's about time the payers get some of the heat providers feel.” But there's something even better, according to most. That's when the OIG investigates the government.During the next live edition of Monitor Mondays, physician-attorney Dr. John K. Hall reviews an OIG audit of Medicare contractors and the Centers for Medicare & Medicaid Services (CMS). He'll also explain what this means for providers.Other segments will include these instantly recognizable broadcast features:The RAC Report: Healthcare attorney Knicole Emanuel, partner at the law firm of Practus, will report the latest news about auditors.Risky Business: Healthcare attorney David Glaser, shareholder in the law offices of Fredrikson & Bryon, will join the broadcast with his trademark segment.SDoH Report: Tiffany Ferguson, a subject matter expert on the social determinants of health (SDoH), will report on the news that's happening at the intersection of healthcare regulations and the SDoH.Monday Rounds: Ronald Hirsch, MD, vice president of R1 RCM, will be making his Monday Rounds with another installment of his popular segment.

Richard DiToma speaks to the ways moonlighting employees affect your business.

This Podcast Is Episode Number 499, And It's About Construction Company Employee Vs. Contractor - What You Need To Know Depending on the nature of your construction business, you may have workers who are employees or contractors, or you may have both. Each has its merits, but it's important to review which are to meet your tax obligations. With so much discussion about employees, payroll, and payroll taxes, you may feel like missing out by not hiring many employees. The reality is that as a small business owner, you do not have to hire employees. To hire or not to hire employees is one of the few optional things where the business owner can choose, change their mind, and change direction as needed. When you have an employee, you must withhold income tax and report on additional benefits. Contractors generally look after their tax obligations. Is there another way? Yes - to outsource most of the mundane low-value tasks that take time away from what you are skilled in. As the owner, you can use that time to meet with clients, create estimates, collect money, pay bills, and have a little left over. It's against the law to treat an employee as a contractor. Significant penalties apply if you do, so it's essential to get it right. The simplest way to remember is: An employee works in your business and is part of your business. A contractor is running their own business. But how can you be sure that you've got an employee or a contractor on your hands, especially with remote work blurring the lines between employees and contractors? Does it come to the point that you should be hiring a worker as an employee when you thought they were a contractor? There are six factors to consider: 1. Ability to subcontract or delegate An employee is not able to subcontract or delegate the work. They must perform the outlined tasks themselves. If they can't do the work themselves for any reason, say a prolonged illness, and someone else does it, this is a substitution. Your business would then pay the other person to carry out those activities. A contractor can delegate the work as long as they're not obligated to do it themselves per the contract. If your contractor didn't work, they would arrange for another qualified person to do it. You would pay your contractor, who would then pay their subcontractor. 2. Basis of payment An employee is paid a set amount per period. The most obvious example would be an annual salary or hourly wage. Some employees are paid piece-work rates. They receive an amount per successful sale or per the number of pieces produced. A commission basis would be a price-per-item structure. A contractor, however, is paid an agreed-upon price in exchange for a predetermined result. Some contracts may specify the amount to be paid in increments as stages of the project are completed. But the key takeaway is that a contractor is paid when the agreed-upon result is achieved. 3. Equipment, tools, and other assets If your business is responsible for providing the equipment, tools, and other assets required to perform the job, that's characteristic of an employee. If the worker is providing these items, they are likely a contractor. 4. Commercial risks Employees do not bear the commercial risk and are not liable for correcting any defects in the work at their own expense. Instead, your business takes this responsibility. The worker will be paid for the time required to complete the task. A contractor assumes commercial risk. They are responsible for fixing any mistakes on their own time. Your business does not have to pay for any extra time taken or materials used unless otherwise specified in the contract. This additional work would fall under the umbrella of the terms set at the beginning of the project. 5. Control over the work Employees have to complete the work the way the employer specifies. What work is done, where it's done, how it's done, and when it's done are all up to the employer. The employee then completes the work as required. Contractors are not subject to the same rules. They decide when and how the work is done, so long as it meets the obligations laid out in the contract. For example, a contractor could work three 10-hour days rather than four 8-hour days to complete a job. 6. Independence An employee works within a business. They complete tasks as required until they leave the job. A contractor operates independently and may have other contracts with other companies. They can freely accept and refuse other work. Their obligation is complete when they deliver the specified outcome. Final thoughts Don't add staff just to have staff. Employees are expensive. In Washington State, it is mandatory to offer Family Leave and PTO. Family Leave is similar to State Unemployment which is calculated on gross wages. PTO (Personal Time Off) is at a rate of 1 hour per every 40 worked. The employee can use the time off anytime they want – no notice given) Other benefits may include paid vacation and holidays. Most construction company owners like you are doing what they can to survive and thrive in tough economic times, and we are here to support and hopefully help you stay out of trouble where we can. It can be confusing to determine between an employee and a contractor, but it's crucial that you do so to meet your tax obligations and play by the rules. Contact us to learn more about your tax obligations for employees and contractors. P.S. Here's a Promo Code that you can use in both our Fast Easy Accounting Store and Construction Accounting Academy for a 40% Discount: CONTRACTOR40 You can use it today, November 25, up to Sunday, November 27, 2022, at 11:59 PM. (Please note: Offer does not apply to Outsourced Accounting, Bookkeeping Review, or any Consultation and Training products; you can use it, however, to purchase any course or monthly subscription classes in Construction Accounting Academy). For questions, suggestions, or comments, email me at sharie@fasteasyaccounting.com or call me at 800-361-1770 or 206-361-3950. I look forward to helping you with your business goals. About The Author: Sharie DeHart, QPA, is the co-founder of Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or sharie@fasteasyaccounting.com

I'm so excited to bring you this interview today. Rick Dutmer is my old business coach that helped me build my roofing company over the course of thirty years into an extremely profitable business so that I was later able to successfully exit and do the things that I wanted to do in life. When I first hired Rick, I was really struggling and wearing all the hats in the business. I knew there was a better way, and Rick was the one that helped guide me through it all, and it started with building a business plan that set me up with a saleable business. Today you'll hear all about how to build a profitable business that will support you and your family with a great lifestyle, how to build a valuable business that you can sell when you're ready to retire, and so much more. What Rick did for my roofing business, I can do for yours. Have you downloaded my FREE 1-Page Business Plan, yet? What you'll hear in this episode: Rick shares how his business background has helped contractors improve their own businesses. Rick provides an overview of the process he used in helping Dave build his business plan. While building your business up, always be thinking about the horizon! This is when business goals transition to more of a business/personal goal. You have a strategy for growing your business and for growing your people. What's your strategy for exiting? Rick addresses the main reason that contractors go out of business. “Profit thrills, volume kills” Building a business that has saleable value depends on your goals. You must have a strong team that will continue the business beyond you or your generation. Rick's recommendations around selling if/when you decide to exit. Roll-ups: the good, the bad, and the ugly.   Connect with Rick! Email: rdutmer@duadllc.com Resources: Let me know if you'd like to join one of our new Mastermind groups for contractors. Email me: dave@theroofershow.com or visit The Roofer Mastermind to sign up.  Download my FREE 1-Page Business Plan template at www.theroofershow.com.   Contact me about one-on-one coaching at www.theroofercoach.com.   I need reviews for the podcast! Please leave a five-star review. It matters! Vetted Sponsors of the Roofer Show Check out the programs that will help you gain confidence in your sales process, become a better leader, and build a winning sales team at Salestransformationgroup.com/roofershow Tee up the sale and make a great first impression by having a friendly, professional receptionist answer your phone with  https://www.callruby.com/roofer  Be the modern-day contractor! We help you leverage technology to generate, organize and maximize commercial roofing leads. Find out more about Peak Leads -  Peakleads.io. Automate your systems and do follow-ups better! Check out ProLine and use promo code “Dave50” for 50% off your first month's service! Salesrabbit.com/roofershow or go to the mobile app store and download the Sales Rabbit app. Connect with John DeLaurier  Take a look at a recent website Tim Hook revamped for John DeLaurier:  www.calldrr.com

Listen as Paul Abernathy, CEO and Founder of Electrical Code Academy, Inc. the leading electrical educator in the country, as he answers more questions from the Let's Ask Paul Portal over at www.PaulAbernathy.com.On this episode Paul will tackle a request from a listener that has been struggling to get licensed for over 20 years. There are always obstacles in your way, haters that keep you down, and life just gets in the way. However, listen as Paul explains that doing it for yourself is the most rewarding part of licensure.If you are looking to learn more about the National Electrical Code, for electrical exam preparation or to better your knowledge of the NEC then visit www.electricalcodeacademy.net for all the electrical code training you will ever need by the leading electrical educator in the country with the best NEC learning program on the planet.

Listen as Paul Abernathy, CEO and Founder of Electrical Code Academy, Inc. the leading electrical educator in the country, as he answers more questions from the Let's Ask Paul Portal over at www.PaulAbernathy.com.On this episode Paul will tackle a question about the various elements necessary to performing a commercial calculation. Now, this is just a summary of each step but the process is what you learn in our Fast Trax Program so we might ask well talk about the steps involved.If you are looking to learn more about the National Electrical Code, for electrical exam preparation or to better your knowledge of the NEC then visit www.electricalcodeacademy.net for all the electrical code training you will ever need by the leading electrical educator in the country with the best NEC learning program on the planet.

Evolution story from chaotic to dialed-in. A couple of months ago we did a Project Management Roundtable with some of our highest-performing members in the construction space. It was so popular and well-received that we thought we would release it as a Contractor Evolution episode. As you no doubt have experienced, most (but not all) Project Managers in construction and trades are professional firefighters. This is a problem. Under-Equipped PMs burn themselves out and eventually hurt morale, but more importantly mismanaged jobs can make or break our year-end P&Ls. So we put together a live roundtable with Greg Hasler of Hasler Homes and Iain Kent of Eagleview Construction where we discuss their evolution story from chaotic to dialed-in, the systems that have made the biggest difference, and the personality profile of a rockstar PM as well as where you might find one. Episode Highlights: - 3 PM 'Red Flags' that will tell you things can be improved on - What makes a great PM (from the perspective of highly effective contractors) - How to hold PMs accountable for the results they were hired to achieve in your business (including which KPIs you should be tracking) - The number of jobs should your PM's be able to manage at one time - The PM qualifications you should look for and where to send PMs to learn proper PM systems for your business - The best way to keep your field crews (and your subs) engaged with the PM systems and actually filling out daily logs (spoiler - yes, it is possible) Watch the episode on PCA Overdrive PCA Overdrive is free for members. Not a member? Try our 30-day, free trial; $5.99/mo after. Download the app on the Apple Store or Google Play. Become a PCA member

This week, we're re-airing one of our most popular episodes with Greg Crabtree of Simple Numbers.Connect with Joshua at:The WebsiteThe Facebook GroupDesign & Sales Master ClassesSubscribe to Outerspaces on your favorite podcasting platform and never miss an episode!

To turn a profit, it's a rule of thumb that businesses need to charge more than they spend on producing their products or providing their services. In other words, "markup" and "margin" are related, but not synonymous.

Listen as Paul Abernathy, CEO and Founder of Electrical Code Academy, Inc. the leading electrical educator in the country, as he answers more questions from the Let's Ask Paul Portal over at www.PaulAbernathy.com.On this episode Paul will tackle a question about using dimmers in interior stairways and what the NEC says about this, and we also tackle the question about 517.13(A) and (B) for redundancy for branch circuits that supply fixed electrical equipment in the patient care space of healthcare facilities.If you are looking to learn more about the National Electrical Code, for electrical exam preparation or to better your knowledge of the NEC then visit www.electricalcodeacademy.net for all the electrical code training you will ever need by the leading electrical educator in the country with the best NEC learning program on the planet.

Today we're joined by Josh Frantz of Frantz Construction. We covered so much ground with Josh that we decided to release this interview in two parts. In part 2 of the interview, we get into more specifics about building and remodeling. Trends versus timeless, what gives you the most bang for your buck, what to do with a flip, and some rough pricing on a few key improvements.  Follow Frantz Construction on Instagram!Thanks for listening! Please follow us on Instagram and Facebook. Email us with any question or comments.

Jordan, Reena and Brendan have on friend and multitalented artist FACEcadet AKA Freddy "La Cara" Salgado. They talk about Hell's Kitchen, His Muse Sierra, His musical beginnings, how to build stuff and much more. Follow him below and catch a show. FACECadet.xyz https://open.spotify.com/artist/7DkfpTcv6yLaILNTHGK8sg?si=F-_mceT0Q2Kb7W9Sqwrb0Q https://music.apple.com/sn/artist/facecadet/1617329103 We just released our short film, Knock, for free. go to lnhstudios.com/knock to watch Come see a show by going to lnhstudios.com/shows Come take a Comedy class with Brendan or Jordan at lnhstudios.com/classes I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 25 million members worldwide. To claim your Pi, follow this link https://minepi.com/jfreeeze and use my username (jfreeeze) as your invitation code. Free Crypto https://r.honeygain.me/JORFRFD773Definitely an app worth checking out. Lets you earn crypto free! https://coin.onelink.me/ePJg/9e29869acoinbase.com/join/fried_1w_ Tune in for unbiased and scrubbed news stories brought to you by Jordan Fried (@jfreeeze), Reena Ezra (@reenaezrahere) and Brendan O'Brien (@brendanohbrien) of Late Night Hump (@latenighthump). Other podcasts are found at lnhstudios.com/podcasts In early 2019, Reena Ezra, Brendan O'Brien and Jordan Fried met performing comedy in Suffern, NY. They realized they had a passion for comedy writing and decided to put on their Circuit Break Comedy Variety Show. After the success of that show, they looked for a new venue to put on a Wednesday night comedy show. The working title for the show that never was was Late Night Hump, and although the show never happened in its original form, Reena, Brendan and Jordan have been creating and producing together under the moniker @latenighthump ever since. Reena Ezra (@ReenaEzraHere) Reena Ezra is a performer, writer, and producer from Mahwah, NJ. She studied Biology at the New Jersey Institute of Technology where she was a member of The Improv Technicians. She performed at the Del Close Marathon, Steel Stacks Improv Festival, the Hartford Improv Festival, Muchmore's, Montclair Film, Just Jake's, and Rhino Comedy, where she was a founding member of another improv troupe called The Hammerheads. She is also a co-founder of a video and comedy production company called LNH Studios. She currently produces and writes sketch comedy as well as the live, variety show, Circuit Break. Jordan Fried (@JFreeeze) Jordan Fried is a comedian and filmmaker from Warwick, NY. He studied Digital Media Production and English at Tulane University, where he was a member of Cat Mafia Comedy. He's performed at Rhino Comedy, Eastville Comedy Club, Hell Yes Fest, Binghamton Comedy and Arts Festival, New Orleans Comedy and Arts Festival and Northern Virginia Comedy Festival. He produces the comedy variety show, Circuit Break; Late Night Hump at NJ Weedman's Joint; and he is a founding member of the improv troupes, Duly Noted and The Mutts. Portfolio Here Brendan O'Brien (@BrendanOhBrien) Brendan O'Brien is a writer, comedian, filmmaker and improv teacher from Warwick, NY. He received his B.A. in Screenwriting from Brooklyn College. He has over 9 years of improv experience having previously performed with the Rockland-based improv troupe "The Plan B Players". He is a founding member of The Rhinos improv troupe and Duly Noted musical improv troupe. He designed and taught the improv curriculum at Rhino Comedy. He is a writer and producer for Late Night Hump and the Circuit Break Variety Show. --- Send in a voice message: https://anchor.fm/sessionswithmaryjane/message

–The Pipeline Podcast – Ep 233 Construction is Broken - Give me the Onsite EOR – With Scott Jennings Listen to this latest episode of “The Pipeline Podcast,” where Scott Jennings talks about the alignment of owner wishes with contractor support. This episode explains why it's so important that owners align their schedules and budgets with the support they give to a contractor in quality of documents and construction administration support from the engineer of record (EOR). For many projects, the EOR is not directly available to the Contractor. The value of this access is priceless to a project's success. Listen to this episode to learn more. I hope you find this episode as informative and as exciting as we have. Please let us know your thoughts about the episode! Connect with Scott Jennings, host of The Pipeline Podcast: Website: http://sjcivil.com LinkedIn: www.linkedin.com/in/scott-jennings-p-e-1435103 Email: sj@sjcivil.com Subscribe to the Podcast: http://sjcivil.net/podcast/ https://anchor.fm/sjccsitesurvey --- Support this podcast: https://anchor.fm/sjccsitesurvey/support

Follow Zulq hereCheck out Smartbuild here: https://smrtbld.com/

Marketing has taken a back seat to recruiting and hiring for the last few years.But, as it always does, that is going to change.Having an effective marketing message is going to be vital.So how do we create marketing that is compelling?Stay tuned to find out the key element that changed everything for me!We are very excited to announce that Brian has just finished developing three new mini-courses.Each one focuses on a primary subject – either people, processes, or profitability.So if you're tired of struggling to get through to your employees, or you know you need to get processes and procedures started or dialed in, or you want to understand your financials much better than you do today, go to serviceindustrysuccess.com and schedule a no-stress call to see if one of these courses are right for you.Each mini-course is priced at less than $500, and includes several video modules you can watch as many times as you want, and each also includes 2 Zoom calls with Brian.Schedule your no-stress call at serviceindustrysuccess.com today!

This week David Lee and Marina Bourderonnet, Founders of FAME Architects discuss 7 tips for selecting the right contractor and the qualities to look for in a good one: 1. Willing to innovate 2. Trustworthy 3. Knowledgeable 4. Keeps their cool 5. Values design 6. Works well with the architect 7. Organized This episode is supported by Brizo • Monograph • Sky-Frame • Miele • Graphisoft SUBSCRIBE  • Apple Podcasts  • YouTube  • Spotify CONNECT  • Website: www.secondstudiopod.com • Instagram • Facebook  • Call or text questions to 213-222-6950 SUPPORT Leave a review :) EPISODE CATEGORIES  •  Interviews: Interviews with industry leaders.  •  Project Companion: Informative talks for clients.    •  Fellow Designer: Tips for designers.  •  After Hours (AH): Casual conversations about everyday life. •  Design Reviews: Reviews of creative projects and buildings.

One resource that we see many contractors underutilize is the relationship with their vendor/supplier of products. Believe it or not, they want to see you succeed just as much as you do! Many vendors such as Sherwin Williams have really taken more of a business focus instead of a sales focus, and the results speak for themselves. In this episode, we interview Roberto Martinez with Sherwin Williams and Joel Greiner with Paint The Earth to share how this relationship should be a win-win for both parties!

Unfortunately, things can go wrong in real estate. This project has been way more difficult than we had anticipated, and we recently had to let our contractor go. This is why it's so important to have a good contractor that you can trust on your team! We've learned a lot from this experience, and we're all about transparency - so we hope you can learn as well through this video :). Enjoy! --------------------------

Richard DiToma explains the difference between being the cheapest contractor and the least expensive contractor.

Being only an employee leaves you vulnerable to the ups and downs of the market. Real estate investing is one powerful defense against job loss and economic downturns. In this episode, Neil Timmons provides insight into the real estate business and shares his experience with overcoming economic adversity to secure a robust financial position. Neil Timmins is the CEO of Legacy Impact Partners, where they invest in real estate opportunities ranging from houses and apartments to industrial and medical offices. In 2021 Neil published his first book, Unicorn Hunting for Real Estate Investment Companies: How to Easily Attract, Screen, and Land a Unicorn. The book is tailored to helping real estate investors find and retain top talent through the strategic systemization of hiring. Neil also hosts his own podcast, “Real Grit” where he pulls back the curtain on real estate investing through interviews with industry titans. “Real Grit” provides listeners with the tools they need to secure their lasting real estate legacy!   Episode Links: https://legacyimpactpartners.com/ https://legacyimpactpartners.com/podcast/ --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: What's going on everyone? Welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum and today with me I have Neil Timmins, who is an author, a podcast host, entrepreneur, real estate investor and he's gonna be talking to us about going from an agent and employee to building a significant business in the real estate space and what it takes to do so. So let's get into it.   Neil Timmons what is going on, man, welcome to the podcast. Thanks so much for taking the time to come hang out with me today.   Neil: Good. It's so good to see you again. I appreciate the invite. Looking forward to this for some time now.   Michael: No, likewise, the pleasure is mine. I'm super excited. So you and I of course know each other. We were chatting offline just before we hit record. But for anyone who doesn't know Neil Timmins, give us the background quick and dirty. Who you are, where you come from, and what is it you're doing real estate.   Neil: High level out of Des Moines, Iowa, born and raised, started as a residential real estate agent built a built a brokerage there on to REMAX for a number of years was a top REMAX guy with my 20s and then eventually found my way stumbled into investing worked my way through single family investing, we still do a little today but morphed into commercial investing. And that's a primary focus today.   Michael: Love it and I hear this this theme so often with agents start as an agent, got my teeth cut, then went into the investment side. My guess if you're a top performing agent, in your local market, you're making a lot more money on an annual basis than you would if you're investing. So why did you make that transition? Why'd you make that jump?   Neil: Yeah, no good question. Well, the not so fun story is I was probably 31 ish at the time. Maybe 32, I came home one day to my wife of a decade in our three little kids, all about five or younger, and my wife had them all packed up and said she was leaving, leaving for good. I had spent the better part of seven years or so working like a dog every day of the week, I worked. My second year in real estate, it worked 355 days. So that business was built, ultimately, you know, I was able to put his team in place and that business, but it largely was built on my back and my effort and so it was at that point that, you know, I had an ultimatum and I begged and pleaded with her to go, you gotta give me give me an opportunity. I understand. So give me an opportunity. She did thank God. 45 days later, I sold my REMAX and took a whole bunch of time off to decide, well, how am I going to how am I going to do this? How am I going to make a living in contribute because I like doing what I was doing and not the not to the degree in which I did it. But I enjoyed real estate a lot, right? The people, all the fun things around it. So it took some time off to evaluate things and then ultimately plugged back in largely on the investment side.   Michael: And today you own a business around the real estate investing space. Tell us about that.   Neil: Yeah. So I own a couple of things. On the on the investment side of things. We're primarily focused on commercial investing, right, we buy by multiple asset classes, you're on a primary ladder, Des Moines, Iowa, we still do fix and flip in the office. Although I'm not largely involved, we've got a nice little machine that runs that really good. Contractor base in place, literally same contractor. Don't quote me on how many but we've done probably nearly 200 with the same exact crew. So it makes running things and the efficiencies there of all awfully simple. I love talking to people going you know what I don't like flipping because then I gotta go pick the carpet, I gotta pick the paint whatever else I'm like, What do you mean, you have to do that we picked it once. It's the same carpets, the same paint, same countertops, the same appliance, nothing, nothing changes. You're not doing a whole block of these things. It's not like anybody notices. You just pick it once yeah and so then also, I run an education business, which we launched this year, which has been very well received from folks who want to make that bridge want to leap into commercial real estate and, you know, figure it out either how to do their first deal or how to do their next deal.   Michael: And I'm curious, Neil, because I also come from the education space, and the folks that you're working with, are they the DIYers or are they the folks that have heard of commercial and want to get exposure to it in some form or another are a mix of the two?   Neil: Yeah, no, it's really DIYers. Yeah, that's not largely the passive investors, if you will, it's people who are active in real estate like, like using… if you will, you know, in my career was it just laid out you know, as well cradle to grave if you will, coming through I'd like if you were to go, how should someone progress? Although most don't do that, you know, they end up in one thing and often stick there, but I kind of work my way through that. Is this constant evolution of how do we elevate oneself and one skill set to take it to a to a new level and that's where these folks are they know they've done, they've done single family, they've largely been exposed to it, maybe they've been exposed a little commercial, but just haven't gotten to the results. They haven't they haven't been on a foundation, a legacy had been on a foundation of financial freedom and, you know, arguably, in mice that that commercial gets you there faster and easier.   Michael: And within commercial because it is such a diverse asset class and really name where do you see folks going that are having the most success?   Neil: Oh, good question there. You know, we bring people in, and we do a lot of things from a training standpoint, want to be in an asset class exercise to go alright, well, fill this little asset class matrix out, we have my hand if answer a handful of questions to go, you know, do you resonate better? Would you rather work with people or businesses, and we just bring them through a series of questions, and that lines it up to go well, top to bottom ranked, we focus on six level six largest asset classes, there's top to the bottom, here's what here's what it looks like and then my encouragement from there is, Listen, if number two resonates a whole lot better with you than number one on that list, that's what you should do, because it's just easier and you know, this, if we were to go work on something you can get passionate about, it's a whole lot simpler, then put a little more effort into it and something you're just like, huh, maybe?   Michael: Totally, totally and, you know, I'm curious, so many folks, I think can go invest in single family on the side as a project as a test as an experiment, the DIYers that are doing commercial real estate, are they doing it on the side? Are they really jumping in with both feet, kind of like you did, and making this their full time gig?   Neil: Yep, great question most are doing on the side, most are either stacking it on to their single family business or, you know, if they've got a day job and several folks do is they're doing this, you know, in the evenings, nights and weekends, side hustle, if you will and you think about you know, from makeup, a number of you were to go market to single family or markets or commercial just by being in commercial, the number of available prospects has been largely diminished. It's a much more manageable group of makeup, an asset class, let's say self-storage, you're going to go market self-storage is in your county, well, in comparison to houses, it is a mere fraction. So your ability to call text or you know, mail somebody or connect with a broker, perhaps it's very manageable. You don't have to do it full time. In fact, that would not encourage it, because you're gonna sit around, you're gonna get discouraged. Because there's candidly not enough to do versus the single family side, you could always find something to do.   Michael: Interesting. Talk to us about kind of the exits and the thought process around the exit from that business. Because in my mind, and I think in a lot of other investors' minds, a house is a house is a house, you know what it is? I know what it is everybody on the street, you know, that you bump into knows what it is, and knows how to buy it, versus a self-storage unit. I could maybe Name one person that I know that's involved in that business and so if I'm trying to sell it, who's gonna buy it?   Neil: Yep, no, exactly. So that's, you know, what I do on the training side is bring people through, even if you know, largely set some goals, understand why you want to be in this business, and perhaps what you'll do get through the training go, I don't want to be in the business. And that's okay, too. That's okay because what you don't know or what you what you now know, empowers you, right? To make a better decision about what the path you should be going down. So we bring people through that large infusion for retraining to expose them to what this world looks like, and then how to, you know, identify an asset class that really resonates with you how to price something up, how do we get leads, so largely from a marketing standpoint, from a lead standpoint, what do we say then? How do we value it? How do we actually put something a price to it to go alright, this looks like a potential really good deal, then how do we put it under contract and then from there, you know, the exit plans largely are or we get to resell the property. Occasionally, we get a property that comes in our wheelhouse, what I call, it's not our perfect seller, so it's a good deal, just not for us. Now, can we move that along, so to liken that to single family wholesale it double close it novated right, do all the same things in the commercial side or, you know, we decide, hey, this is our perfect seller with the property we want to own. So how do we how do we close it up or we get to raise equity? How do we go get debt and then how do we bring the whole thing together to properly manage it? So that's what we show folks how to do and ultimately starts you know, on the front end of the process to go Alright, how are we buying this because I know what our required returns are and if it doesn't hit that I'm that's gonna lead us down a different path to either go it's either a non-deal or we're gonna get this moved along to another investor and cash up the big check that we can utilize for the next year.   Michael: Yeah, that makes a ton of sense and you use the term that I'm not frankly familiar with novate. What does that mean?   Neil: Novation is that this has become very popular on the single family side. So there's a lot of buzz on the single family side, especially for those in the wholesaling business. Okay, it is to replace one contract with one another with another contract. So essentially, if I was to, you know, say, for example, I was to buy a property from Mr. Jones, I have a contract in place with Mr. Jones, I decided I want to move this property along under innovation process, you would then provide me a contract that would replace mine, there's typically a difference in pricing, right, you're gonna pay more than what I've just paid and that delta ultimately gets paid back to me. As part of the process. I'm high level in here. There's some moving pieces but high level?   Michael: Yeah, okay okay. Great to know. Neil, I'm curious if we can zoom out for a little bit, because you went from realtor agent, which is a kind of a unique profession and that, yes, you are an employee, but also you are kind of the business owner, your own of your own little business, your own little domain, and then you went and put a team in place, and then you ultimately sold that business. But for so many people that are employees in a traditional nine to five w two employee position to make the transition from employee to business owner, I think is a big leap for a lot of people. What was that like for you mentally going from? I'm going to be an agent to now I'm going to start and run and operate a business.   Neil: Yeah, no good question in it. I think that's, it comes in incremental gains, right. So how do you how do you elephant, right, one piece at a time and so the same thing occurred from me mentally and I think that is? It's a terrific question because I think so much of this business, in business in general is mental, right? It's a six inch game in between your ears and so how do you combat that I read a book when I was probably 20 to 23 years old. The Millionaire Mind by Dr. Thomas Stanley. He wrote The Millionaire Next Door, that's probably his most famous book, The Millionaire Mind was incredible and it broke it down to, you know how millionaires think and my thought process, of course, is well, if you just think like a millionaire eventually, and then, therefore, act and operate like a millionaire, I will eventually become one, right. So it's not it's not hard success leaves clues. So there was a lot of things in there that that impacted me at a very deep level and one of them, the biggest takeaway for me was, the largest risk that one has is being an employee. They can let you go any day of the week, this is what I came to believe in, it's still my operating beliefs today are just risky, if you have no control and I, I am well aware that as a business owner, as an operator, as a real estate investor, we take tremendous risk. There's no doubt about it but I still think they pale in comparison to putting all eggs in one basket, men have an employer of someone else.   Michael: Yeah, it makes total sense. So as you started moving things along, and created and formed and founded your business, how did you figure out who the right people were to put on the proverbial bus because I think, again, so many people have either a great idea, and they're really good at maybe doing that one thing. But doing that one thing isn't a business and so how do you scale it and have a proper functioning, running operational business?   Neil: Yeah, no, great question and that's, that's probably, if I was to attribute any of our success over the course of last three ish years, two and a half years, somewhere in that range, we've had significant success in that period of time, it's largely been correlated to my evolution as a leader, knowing that the only way forward is ultimately with and through other people. And so I've had a focus internal so go back to a question you just asked earlier, from a mental attitude of taking that leap. For me, it's how do I develop as a leader how to become a better a better person, somebody that people look up to somebody that people want to be around, so many people want to listen to, and, and be on the same bus with going rowing in the same direction and so that has largely, that's been a big focus over the course the last couple of years. When I was at a spot where he's gone, it's time to grow. You can't hire and retain a player's unicorns as I call them. You can't hire and retain unicorns if you're not one. So how do you how does one improve their personal self to be able to get to that level? That other a players want to be around?   Michael: Yeah, that makes total sense. So what it what did you do? Can you open the vest a little bit, let us peek under the curtain…   Neil: Yes, you know, it's, I wish there was a silver bullet here, but it's largely just been, you know, what do they say what's mentionable is manageable and for me, it's just having that Cognizant thought that okay, well, now, I'm mindful of this and so now I need to give thought to this. How do I say things how do I handle things? How do I handle certain situations? What is the impact when making this isn't with an employee or with a team or with a customer in front of folks, how's this gonna resonate? What does this look like and then having the vision as a leader, as any leader, doesn't any organization, that vision to go, where are we going and this isn't about me, this is about us and so oftentimes you'll hear me say, we did this, I almost, you know, I try very hard to say that 100% of time, I didn't do anything. We did this collectively, all the results are collective right. It is us together and that reading, continuing to stay focused on that, stay ahead of what's transpiring, trying to, you know, hosting a podcast being around other people like yourself, other people in the industry having an understanding what's going on. So been trying to be on that curve from a knowledge base standpoint about what's transpiring that's helpful, too.   Michael: Yeah, yeah. I love that and asking for a friend. I hate people and I don't think I want to interview people and screen people and that sort of thing. Does that mean that I shouldn't start a business with my great idea?   Neil: The first part is I don't like people. So let's just call that the introverted, right? They don't want to interact with other people. My right hand gal is an introvert. She's not very gregarious as it relates to people. She's very good with people. But she wants to she's far more task oriented about how do we execute on what we're doing? I think that's terrific and now, what hadn't you hire her because she's the Yang, right? It's Ying and yang. She complements me in a perfect opposite fashion and I do the same thing. The other way around. Yeah, it's, I think that's terrific. I think it's wonderful, if you can, what you just expressed was, you know who you are, if you know who you are, you can identify a path forward and I would encourage you absolutely. Knowing what your deficiencies are is wonderful. We're all we're all given strengths someplace, just balance this balance your weakness with somebody else. Don't try to what are the what don't master in the weaknesses, right? So anytime we have a weakness here in anybody, you know, largely for me, it's going just don't do it. Don't master in the minors, because at the end of the day, you're still going to be a d minus for you, no matter how good you get at your weakness focus on your A's.   Michael: Yeah. Oh, that's such a good expression. I can't tell you how many times I've heard people say, oh, I wanted to visit with my best friend. We're so similar that I'm like, that doesn't sound like a good partnership.   Neil: Sounds like sounds like a great bar and I but not a good business decision.   Michael: Yeah, I know. Totally, yeah right.   Neil, if we zoom back into the commercial side of real estate coming from the single family space, what is it that you see is the biggest hurdle of barrier to entry for folks that want to make that leap into commercial but utilize someone such as yourself to help them get there?   Neil: You'll never guess us? Are you ready for this?   Michael: I hope so.   Neil: I know, you're it's a mental barrier. It's all made up in their head. It's they don't think they can't. Yeah, but they don't think that that is it because past that, the ability to go well, okay. Well, if you've ever let me let me liken it to single family. A duplex is like a single family rental house, right? It's just two doors and the numbers change a little bit? Well, a 20 packs is the same thing. There's largely, there's not much difference in these things you're adding some zeros are calculated a little differently, but it's pretty much the same. In fact, management, in my opinion, gets easier. The more doors you have, right, you get professional management, you get it, it becomes simpler. Yeah and then to make a change to go into some other asset class, we just have to make a bridge. What does that look like? They have to go to an industrial buildings on a triple net lease, which is probably the simplest thing to calculate and get one's head around when you're going, well, they just pay a lease rate, and then they fix all the stuff that goes wrong with it, right? That's it your true and your true and why is the rent, we've got multiple properties like that and we're the management company, which means we just get the rent and never hear Yeah.   Michael: Yeah, that's by far the easiest piece of property in my portfolio is triple net.   Neil: Yes, correct. But people are, you know, we're scared about what we don't know and that's true of all of us, right? We're scared about what we don't know, afraid to make mistake, which is totally understandable and so we just help folks, we educate them as we go answer questions as we go and show them the exact path to be able to get from, you know, I want to learn more about commercial real estate, I'd love to be able to buy a deal to actually get to a close.   Michael: That's awesome. And I'm curious, Neil, what's your favorite asset class and why?   Neil: My favorite asset class, although I own I'd have to calculate up four or five different asset classes, but my favorite today is going to be industrial.   Michael: Industrial why is that?   Neil: Yeah, industrial is in demand like crazy. Secondly, in 2021, had the second largest rent increase across all asset classes, only trailing two apartments. But in comparison to apartments, they're far easier to manage, right, I get a triple net deal, or a double no deal, there isn't much to do, there's very few moving pieces you end up with, on average, let's say a five year to 10 year lease is pretty straightforward.   Michael: Okay. So if I'm playing devil's advocate here, and we're looking at this industrial building, this is suited only for a business. This is not for people can't come live here and the type of business you might have to build to suit it out for that particular business 5-10 years down the road, that might be a future Neal problem. But let's drive down that path that tenant leaves goes out of business, what have you economy turns? If businesses aren't doing well, in the area, are you stuck with this vacant building now?   Neil: 100%. If businesses are doing well in the area, meaning they're laying off or not employing people, my thesis is you still have you still have an apartment problem relative to occupancy and or rent rates. This goes back to earlier question is, admittedly, we have to take a risk someplace, right? It's just my comfort level and I like the box, you know, not a somehow engineering building has been added on to or defined for one, one person's exact use, I like a big giant box, just a rectangle, that's it, a business of multiple businesses come into that and fill it out in which way they want to. So like the fact that if I can buy my, my preferred buying is for buying some older not buying brand new stuff, buying some older buying something with a value add or on buying at a discount of some managers, the intent is to buy it correctly. And if I can buy a property, let's call it make up a number right now 70 to $80, a square foot brand new construction is gonna be 120 to 130 a square foot, I think I'm in pretty good shape over the course of coming years, I think that my dollars, and my rent rates get pulled up to the fact that sheer cost of new construction is gonna be 60% higher.   Michael: All right, I dig it, I dig it and for anyone, I'm just realizing now, some of our listeners might not be familiar with the term double net triple net lease, can you give us a quick definition of what it is?   Neil: Yeah, it just defines what people pay for double net, for example, is probably one of the least likely terms that use but let's say triple net triple net means ultimately that the tenant pays for everything, there may be some nuances inside the lease, but taxes, insurance, repairs maintenance, the tenant pays for that. So if your releases 100 grand a year, your net is 100 grand a year before, before your mortgage, any sort of debt payment you have on it. A double net means they don't pay for everything they pay for perhaps taxes and insurance, but not all the repairs and all the maintenance, and therefore your NOI is gonna be a little lighter, depending on what you have to maintain and pay for.   Michael: Okay, perfect and I'm sure some of our listeners are hearing that and thinking like, this is the best thing since sliced bread. I'm gonna go put all of my single family homes and all my apartments on Triple Net leases. Why is it only a thing that's been heard of in the commercial space?   Neil: Yeah, no good question. You know, to liken it to single family, you're like lease with an option or a contract sale, that's probably the closest thing you get to a triple net in the in the single family house side, right? So you kind of contract sale, somebody that mean that contract buyer is now responsible for everything associated with that house, right? That's what it looks like. If you look at the closest thing, there's some differences there. Obviously, a contract sale into a down payment interest rate. That's not the same as a triple net lease on the industrial side but that's probably the easiest way to liken it to single family.   Michael: Yep. Yeah, that makes total sense and for anyone listening, like Neil mentioned, it's just the cap rate is like the easiest thing ever in the Analyze easy thing ever, you got a million dollar building cap rate 6% they're paying 60 grand a year, then bam, boom, end of discussion. You're not paying taxes, you're not paying insurance, you know, capex and maintenance. So you can calculate your true return, and then look to calculate what your debt service payments gonna look like and determine what your return looks like after that, versus the traditional single family rental or apartment or traditional residential space. They pay you a set fixed amount, the rent, and then you have to go figure out the taxes, insurance, repairs, maintenance, capex, that sort of thing.   Neil: So hey, just because I like it or you know, in other investors likes something else doesn't mean it's right. There's only what's right for you.   Michael: Yeah, yeah. I love it. Neil, this has been so much fun, man. I want to be very respectful of your time. Let's get you out of here. But before we go, like where can people reach out to you find out more about you continue the conversation if they're interested?   Neil: Yeah, no, great question. Well, if you want to learn more about commercial real estate getting rich in what I call the 20x niche, why do I call it that? Well, because our target internally is to produce in a monthly return that's 20 times that of us Single Family return so we're scaling up largely is just go to my website give you a free download free report just you can learn more about the industry getting into commercial. So www dot legacy impact partners forward slash gift JF T legacy impact partners Ford slash gift: https://legacyimpactpartners.com/   Michael: Right on thank you so much and before I let you go I mean I'm not gonna let you out of here without mentioning your podcast you're also the host of a podcast was that was a you're kind enough to have me on what is that called and what can people expect to hear on it?   Neil: Real grit is the name of it it's about the trials tribulations anybody from real estate. So we talked about single family talking about commercial talk about everything in between. But really, so that we fully admit that you know, life isn't all about Lambos and big houses on cash and checks and everything on Facebook that or social media wherever you'd see it right? That there's ups and downs there's, there's we have to go through stuff and many times to be able to find our own personal success and so we talk through that and people's personal stories and how they got there because all bunch people, they get their different ways and it's really exciting. It's, we get into some really interesting, very dynamic conversation a lot of fun, love it. You and I had a great conversation.   Michael: I had a ball. I had a ball.   Neil: It was a blast, man.   Michael: Awesome. Well definitely go check out that podcast, real grit, a lot of fun, really cool stuff going on there. Neil, thank you again. Any final words thoughts for our listeners?   Neil: No, you're going to find me you know, like I shared it though the website I'm also on all the all the social media platforms. Facebook's the best place to find me Neil Timmins, or there are many Amin just spell it right you got me   Michael: Right on, many thanks again. Appreciate you, see you soon. Bye.   Neil: Bye, bye.   Michael: All right, well, that was our episode. A big thank you to Neil for coming on the show. Really, really interesting stuff that Neil's been through seen and experienced. As always, if you enjoyed the episode, we'd love to hear from you with a rating or review wherever it is get your podcast, and we look forward to seeing on the next one. Happy investing…

Welcome to The Roofer Coach podcast! We have made some changes and improvements and are rebranding the podcast, business, and platforms from The Roofer Show to The Roofer Coach. Everything we do here is to help you grow a more successful roofing business! We want to help contractors, and we keep it simple by giving you tools to make things happen. I'm joined by my co-host, John DeLaurier, who brings a wealth of knowledge and experience to the table. Today's show focuses on the value of a service department in your roofing business, and our guest is Brian Mitchell from the Sales Transformation Group. Brian has immense experience in building service departments, and he teaches others to build their service department and sell with confidence. Join us to learn more from Brian! Check out the courses available at www.salestransformationgroup.com/roofershow.      ***Today's ONE THING:  The One-Page Business Plan can help you know your ideal customer and not try to serve EVERYONE. It will help you identify your avatar, focus on the services that deliver the most value and profitability, and stick with serving your region with excellence.  What you'll hear in this episode: A recap of the past week from John and Dave A reminder about the Employee Retention Credit (ERC) that we covered in detail in Episode 284; I have clients who are getting BIG money refunds. Check out www.rpcfinancial.com to learn more and see if you qualify! John gives his insight into commercial roofing repairs (You CAN be profitable with a service department– if you do it right!) This is a Non-Scale Zone! Why The Roofer Coach focuses on profitability rather than scaling your business The importance of the “three-legged stool” of your business, your two-week vacation, and why you need The One-Page Business Plan from our website (Click on Start Here to get your copy!) How your service department solves problems and offers huge savings to the building owner From Brian: How Brian ended up writing a sales training course on building service departments Why roofing service departments are built to withstand recessions and economic downturns and maintain profitability How (and why) you should get started with a service department How to use Brian's pyramid model to structure your service department Why proposals, marketing, and sales are different in service An overview of Brian's course, software, and coaching program at the Sales Transformation Group Resources: Connect with John DeLaurier:  www.calldrr.com, Instagram, and Facebook Connect with Dave via text message: 510-612-1450  Let me know if you'd like to join one of our new Mastermind groups for contractors. Email me: dave@theroofershow.com or visit The Roofer Mastermind to sign up.  Download my FREE 1-Page Business Plan template at www.theroofershow.com.   Contact me about one-on-one coaching at www.theroofercoach.com.   I need reviews for the podcast! Please leave a five-star review. It matters! Text Brian for more info about his course or software: 954-268-6938 Find out about Brian's course: www.salestransformationgroup.com   Vetted Sponsors of the Roofer Show Check out the programs that will help you gain confidence in your sales process, become a better leader, and build a winning sales team at Salestransformationgroup.com/roofershow Tee up the sale and make a great first impression by having a friendly, professional receptionist answer your phone with  https://www.callruby.com/roofer  Be the modern-day contractor! We help you leverage technology to generate, organize and maximize commercial roofing leads. Find out more about Peak Leads -  Peakleads.io. Automate your systems and do follow-ups better! Check out ProLine and use promo code “Dave50” for 50% off your first month's service! Salesrabbit.com/roofershow or go to the mobile app store and download the Sales Rabbit app.

This Podcast Is Episode Number 498, And It's About The Solution To Your Construction Company Equipment Dilemma Is it time for your construction business to invest in some new equipment? And if so, is it a more brilliant business decision and cost-effective to rent or buy? Black Friday, followed by Cyber Monday, is coming. The real question is what equipment is on your business shopping list. It is all a question of your budget, income, cash flow, profit & loss, and taxes. Why you might need new equipment: The right equipment can enhance your processes, productivity, innovation capacity, and bottom line, but should you buy now or wait till a later date? A few reasons you might need to purchase new equipment now are because: - You have some big contracts coming up and need to increase production. - Your construction business is expanding at a fast rate. - You need to replace some aging equipment to maintain your business's high standards and keep up with the competition. Evaluate your existing financial state It can be easy to get caught up in the growth of your business without putting the necessary time into assessing whether you're financially ready to buy some more equipment. Try to look beyond your current situation to project your costs over the coming months or years (depending on whether you plan to hire or buy).  You can reduce the financial impact on your business by: Using financing to buy the equipment – you may even get lower rates than hiring the asset, and after you complete your payments, you'll own it. Purchasing quality used equipment could be more cost-effective than renting over the long term. Examine your business as a whole Short-term purchases without long-term plans can be costly Consider these questions when drawing up plans to invest in more equipment: What effect will the new equipment have on your human resources? Will you need additional staff or relocate staff elsewhere throughout your business? Can the equipment you're replacing be used elsewhere in your business? The length of the job or project A crucial deciding factor as to whether the right time to purchase more equipment is now is the length of an upcoming project (or the frequency of extra jobs coming up). Additional short-term work suggests hiring would be a better option. Likewise, if you need a highly specialized (and expensive) piece of equipment, it might be preferable to hire it. It makes more sense to buy for longer-term projects. Hire costs can add up quickly as a job gets delayed and pushes past its expected finish date. Usage and availability Knowing that the right equipment is available to your business whenever needed is a significant advantage. If anything unexpected happens with a job, you'll have the necessary equipment to react and reschedule. Potential clients will also notice that you own the equipment necessary to complete their requests, helping develop trust with your business. When you decide whether to hire or buy, consider the risk of your preferred hire company not having the equipment you want when you need it. Deciding to hire or buy You can get the new equipment you need by renting (hiring) or buying. Each has advantages and disadvantages, so it's worthwhile assessing your business's current financial situation, its current capabilities, and its plans (for growth). Weigh up the pros If you choose to purchase new equipment, the advantages over hiring will include the following: Availability – you can be sure the equipment will be available when needed. Ownership – you own the equipment and can potentially get a return on it when you sell it. Additional financing – if using a loan to pay for your equipment, you might be able to get extra funding to cover transport, training, or installation. If you decide to rent the equipment, the pros include the following: Cost – smaller initial investment Maintenance – the lender, should handle insurance and maintenance. Technology – you can usually hire the latest equipment available and should be able to upgrade as your project progresses. Will renting make your life easier in the short run while you consider buying at a later date? Will buying now be more beneficial to your business over the longer term? On the accounting side: If you buy before - the end of the year – the Internal Revenue Code – Section 179 allows for accelerated depreciation. If your purchase is less than $500.00, it is always a qualified expense. The bigger stuff is Vehicles / Tools Mounted On A Trailer / Generator / Specialty Equipment. Depending on type - Life span and cost basis can trigger other tax reporting rules. Section 179 accelerated depreciation has been in place for many years. Three reasons the 179 accelerated depreciation went into effect: Stimulate the local economy – some purchases, such as QuickBooks, are purchased at local stores. Give the business a reason to grow and expand by adding new equipment and additional employees. Useful life ended long before the depreciation schedule ended years later. Everything comes back to two issues - Taxes and Cash Flow If you have the cash or can finance, do you need to buy a piece of equipment for the field? If you have the cash or can finance, do you need to buy a piece of equipment or software for the office? From an operations viewpoint - If you purchase either now, can you use it to make or save money? It's easy to assume that the deduction will always be available. Congress decides what changes year over year in the details of the deductions. At one point (several years ago), vehicles over a certain weight (SUVs) had a cap on the depreciation deduction. They were considered luxury vehicles, and the extra features were unnecessary over the basic pickup truck. Summary A wheelbarrow and a shovel are cheaper but would a small Hitachi be more productive and cost less in the long run, which could give you more money to operate and grow your construction business?  Taking into account the points above, you'll get a clearer idea about whether now is the right time for you to purchase more equipment, either with your capital or through financing, or whether it's a better option to hire for the time being. Next steps Talk to your accountant to discuss the pros and cons of hiring and buying new equipment. Have a word with your bank manager about whether you can get funding to purchase the equipment your business needs. Reach out to me; I'm ready when you are. About The Author: Sharie DeHart, QPA, is the co-founder of Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits to put more money in the bank. Call 1-800-361-1770 or sharie@fasteasyaccounting.com

In this episode, Tom talks about what it's going to take to survive the recession, specifically if you're a new contractor. Tune in if you want to know the best way not to feel the effects of a recession!   Conversation Highlights: [00:00] - Intro [01:11] - Neither good nor bad times last forever [02:16] - You have a choice — don't participate in the recession [04:25] - Commit to ringing your cash register every day [06:33] - You need to raise your prices [09:23] - Most contractors will not do these things [11:18] - The Contractor Fight Foundations Program   CLICK HERE to learn about the Contractor Fight Foundations Program: https://thecontractorfight.com/foundations/    Resources:    == Join us in BATTLEGROUND == Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info, check out: https://TheContractorFight.com/Battleground    == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook    == Grab the Gear == https://gear.thecontractorfight.com/    == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig    == Rate the Podcast == Help your fellow contractors find the podcast! Please leave a rating/review!  Apple Podcasts   Spotify  

Autumn Witt Boyd is a lawyer who helps million dollar coaches and online business owners build sustainable, profitable companies. She provides sophisticated legal guidance with copyright and trademark protection, contracts, team building, and problem solving. Along with her team at The AWB Firm, she loves helping online educators (courses, memberships, and digital products) grow their dream business with approachable advice and the right legal protections at the right time. The AWB Firm also offers customizable contract templates that are quick and easy to complete, and cost a fraction of working one-on-one with a lawyer.You can find Autumn in Chattanooga, Tennessee hanging out with her three kids and husband, reading a good book, or sipping a glass of champagne after bedtime. MEMORABLE MOMENTS“I typically will say once you hit that couple $100,000 annual revenue, is a great time to find a lawyer and start a relationship. It doesn't mean you need to be spending 10 or $20,000 a year, but it means you are getting to know each other.”“The good news is if your business is small, that means your risk is also probably small.” “My first question is always, well, what does your contract say? And if the answer is we didn't have one, that just makes things much harder to figure out how to bring the two sides together to an agreement.”“There are ways that you can put these in place that don't require, you know, spending 1000's of dollars on a lawyer, which probably doesn't make sense if you're a newer business owner.”“I think most people don't realize that you have to look at the law of the state where they're located and your own state where your business is located.”“If you hire a contractor…they own the rights and whatever they create, which is totally bananas, like you would think it would be the opposite. But because they're contractor, they own the rights. You can change that in a contract. Connect with Autumn:⭐ Connect on Instagram @awbfirm⭐ Connect on LinkedIn https://www.linkedin.com/company/awbfirm⭐ https://awbfirm.com/  Connect with Allison:⭐ Connect on Instagram @allisonwalsh⭐ JOIN OUR FREE COMMUNITY: https://www.facebook.com/groups/shebelievedshecouldcommunity⭐ Check out book recommendations from the show here

Treat others like you would want to be treated. One resource that we see many contractors underutilize is the relationship with their vendor/supplier of products. Believe it or not, they want to see you succeed just as much as you do! Many vendors such as Sherwin Williams have really taken more of a business focus instead of a sales focus, and the results speak for themselves. In this episode, we interview Roberto Martinez with Sherwin Williams and Joel Greiner with Paint The Earth to share how this relationship should be a win-win for both parties! Watch the episode on PCA Overdrive PCA Overdrive is free for members. Not a member? Try our 30-day, free trial; $5.99/mo after. Download the app on the Apple Store or Google Play. Become a PCA member Working on professionalizing your business but aren't sure where to start? Schedule a free business analysis meeting at www.elitebusinessadvising.com

You work really hard! So why are you giving the government all your money?!? Most business owners don't know that there are legal and ethical strategies available to all of us to lower our taxes each year, so we can make more money and reinvest back into our growing businesses. Joseph sits down with the uber-smart Barbara Schreihans to pick her brain on some of the top tax-saving tips for construction companies. Get in touch with Barbara and her team at Professional Tax Accountant Services In USA | Your Tax Coach Connect with Barbara directly on Instagram: https://www.instagram.com/yourtaxcoach/

*ALL TOPICS DISCUSSED ARE FOR INFORMATIONAL AND EDUCATIONAL PURPOSES ONLY AND NOT TO BE CONSIDERED OR CONSTRUED AS LEGAL ADVICE*   Welcome to the FOUNDATION!   [The] FOUNDATION - Private Estates in Public Recessions This May Be A Very Controversial Show...   "Sot, what happened to the show from last week?l" We Are Living In Crazy Times, May Be Best To Listen Live...       Some Ideas are based in 'reality". Most Ideas are Simply Dynamite With Very Short Fuses. Most Do Not Understand That It Takes Specific knowledge In Order To Do Everything And Anything. ...   Once You Have "Gone Private" It Is All About What You KNOW. Think About That For A Minute.   The System Is Set Up To Allow Us To BARELY Get By? Let's Talk About Banks, Trust, The Monetary System and What YOU Can Do About It!   As Always, Make Sure To Call In With Any Questions!   Join Host Sot El as we Discuss this and other Topics.   As We Lay the FOUNDATION...

The Successful Contractor Podcast, Powered by CertainPath, is a show for residential contractors about residential contractors…  We chronicle business journeys, share insights, and celebrate successes in this wonderful industry.  Thank you to our sponsors: A.O. Smith. Thinking about replacing your old, inefficient water heater? Nothing brings together commercial-grade reliability and the latest water heating technology like the new Pro-Line family of water heaters from A.O. Smith. Whether you need a gas, electric or even a tankless, we have a model that will meet the needs of your lifestyle. Best of all, when you welcome an A.O. Smith water heater into your home, you're beginning a relationship with a long-trusted brand known for always taking care of our customers. A.O. Smith Water Heaters; Innovation Has A Name.   Shubee. ShuBee makes it easy to take your customer service to the next level. Show your clients you care with their full line of extra-large, extra durable products made specifically to protect their home or business. ShuBee products were made by service professionals for service professionals. None of those cheap, thin shoe covers that tear on the job. Their booties are made tough. They have surface protection products for every floor type to make sure you don't leave behind scuffs or scrapes. And don't forget their coveralls. Made with an extra long torso for ease of motion, while keeping your uniform clean all day. Let ShuBee prevent the hassle of clean up by preventing the mess in the first place. Put your best foot forward with ShuBee today. Visit their website at www.shubee.com or give them a call today and mention coupon code CPPOD10 to receive 10% off your next order. Home Depot Pro Trades. At The Home Depot Pro Trades, our job is helping you do yours. Powered by HD Supply, we are uniquely positioned to help drive your business through unrivaled access to professional-grade Plumbing, Electrical and HVAC products and innovative business solutions such as our Stockwise Inventory Management program fully customizable to meet your needs and improve productivity. Our national network of distribution centers and more than 2200 store locations provide national reach with a local focus, providing unmatched convenience and product availability. We Power Pros to Do More.”   Goodman. Goodman® is a brand of Daikin Comfort Technologies, Inc., the #1 HVAC manufacturer worldwide with one of the world's largest state-of-the-art manufacturing facilities located near Houston, Texas. Since 1982, Goodman has focused on offering the best values for HVAC systems and supplies, producing energy-efficient, high-quality HVAC equipment that is easy to sell, install and maintain. Goodman's continuous efforts have helped contribute to the success of many HVAC contractors, like you.  Goodman produces a complete line of residential ducted split systems and packaged units. The company's product line is supported by numerous technology enhancements, many exclusive to the Goodman brand. One example of exclusivity is the Google Nest Thermostat E + Goodman thermostat, that brings together the helpfulness of Google with the year-round comfort of Goodman. Goodman also offers ComfortBridge® technology that allow Goodman systems to be connected to any 24-volt thermostat, and the CoolCloud app allows contractors to connect, configure, and diagnose wirelessly. It's no wonder millions of homeowners say, “Thank goodness for Goodman.®” Look for and be sure to “Follow” Goodman on LinkedIn, Facebook, Instagram, and YouTube. The Successful Contractor Podcast is a part of the CertainPath family.  CertainPath builds successful home service businesses—and has for 23 years.  We do it by providing contractors with a proven path to success, professional coaching, software solutions, and a member community of 1,000+ strong. Doubling your sales, with a 20% net profit, and an inspiring company culture is ALL possible.  Let us show you the way.  With CertainPath, Success is Made Certain. Visit www.mycertainpath.com for more information.

When it comes to working with contractors I've found that there's a simple way and a not so simple way to do it.  Since contractors work with so many different types of clients it can be a challenge for them too.  Over the years I've found a few ways to make this process a bit smoother for everyone. Check out some of the tips I use with my projects to see if there's some ideas for your future projects too.   Want to tour properties with me? I've created a new program where you can tour 3 potential fixer-uppers with me. Learn more here about how you can learn with the Find Your Flip program.

Let's get this straight.

Meet Kyle Hedin, a flooring specialist, contractor and Podcaster from Mesa, Arizona. He approaches his work smart, because he knows his numbers.  Find Kyle at www.illustrioushardwoods.com or www.flooracademypod.com. Instagram - https://www.instagram.com/flooracademypod/Facebook - https://www.facebook.com/kyle.hedintiktok - https://www.tiktok.com/@flooracademyyoutube - https://www.youtube.com/channel/UCX2cX59V61tV8LmftaEdbGwKyle Hedin, www.flooracademypod.com, phone: 602-888-3361If you liked today's show - please let Laura know by either contacting her at laura@fisherpodcast.com or give her a great review. Also, if you know of someone who would be an inspiring guests, let her know… even if it's you. Until then… "You better be Up to something!"

A standard operating procedure will have a long-term impact. If you don't have clear SOPs (Standard Operating Procedures) for all the things you do in your business you're in trouble. Here's why: - You won't be able to scale - You can't take a vacation - You can't promote anyone on your team - It takes FOREVER to train new staff - You field a million questions every day that suck your time - You'll never be able to take a step back from operations …the list goes on Not having clear SOP's is why your business is a mess. But if you don't have them, it's not your fault. Because no one told you where to start, how to create them, how to have your SOP's evolve with the business, or WHO IN THE HELL would be creating all of these things? However, now all of your obstacles are irrelevant. Someone has figured out how to get around all those challenges and more. His name is Tom Hughes and he's going to open your mind to the possibility of SOP's that are highly effective and practically create themselves. To learn Tom's brilliant approach to these age-old challenges, watch this week's episode. Episode Highlights: - The reason why you can't predictably grow a business without SOP's - How much value SOP's will give to the sale price of the business and peace of mind to the owner - The 3 keys most owners miss when implementing SOPs that lead to a giant waste of time and money - How to foster ownership and buy-in from the team by implementing bottom-up rather than top-down SOP creation - How to put SOPs at the point of use to make sure they actually get used instead of collecting dust - Lastly, how to make the update process easy so that your SOPs grow with your business instead of falling out of date Watch the episode on PCA Overdrive PCA Overdrive is free for members. Not a member? Try our 30-day, free trial; $5.99/mo after. Download the app on the Apple Store or Google Play. Become a PCA member

Tune in for a conversation with special guest Miguel Pinto of Grand Outdoor Designs.Connect with Joshua at:The WebsiteThe Facebook GroupDesign & Sales Master ClassesSubscribe to Outerspaces on your favorite podcasting platform and never miss an episode!

In this episode, we discuss a beautiful idea presented by Ed Mylett during the Arete Live event in Nashville, Tennessee, that can go far past your relationship with your family and make massive impacts in your company……plus a story about Jacob taking the *wrong* edible before a coaching call (and more).But first: don't forget about Training Day's new date! Our in-person coaching event is happening on January 20, 2023. (Edibles not included.) Save your seat: https://JacobGodar.com/Training-DayGROW Comm public registration opens in December.Get on the waitlist: https://bit.ly/3usVsXbCheck out Jacob on YouTube: https://bit.ly/3JJXJDYFind us on Instagram:https://instagram.com/jacobgodarhttps://instagram.com/nichollegodar

President Joe Biden is meeting with Chinese leader Xi Jinping. We take a look at what the leaders talked about—and why some lawmakers are sounding alarms. Could U.S.-China economic relations be improving? Treasury Secretary Yellen says she hopes so, alongside the G-20 Summit. A spy has been caught. An American civilian defense contractor is receiving his sentence in California for providing Beijing with aviation-related intel. And three more were charged in federal court for sending details on U.S. submarines and missiles to China, as well as importing Chinese parts that went into U.S. military devices—against regulation. Biden is raising alarms about Chinese military activities in a Cambodian base. Why is the issue getting attention from the world's biggest powers? ⭕️Watch in-depth videos based on Truth & Tradition at Epoch TV

How do you show a VC that your company could return their fund?--> Strategic Sequencing... 

Rory Henry talks with Carrie Bradshaw of CD Bradshaw and Associates about her firm's growth and how to focus on an industry-specific niche. Listen as Carrie talks about how she built her firm by serving the specialty niche of construction contractors e.g. HVAC, plumbers, and electricians. Learn how to overcome the fear of putting all your eggs in one basket when getting into a niche. Discover how she uses vertical integration within her niche to provide a greater service offering to clients. Do you want to know how Carrie's love for cars and drag racing helps her better communicate with clients? Find out the answer to this question and more in this CPA Spotlight Episode with Carrie Bradshaw.

BlueCollar.CEO –Jennifer Clements is the Co-founder of Clement's Electric and the Founder of League of Contractors, a lead generation app by contractors for contractors. Through League of Contractors, Jennifer helps home service professionals become referral partners and generate leads to grow together. On the app, contractors can refer others and get paid for it, and only one contractor receives a referral per time, eliminating competition for leads.Homeowners use the app to request services, select the top-ranked contractor, or put their request in the marketplace where only one contractor can pick up the order. That means no bidding wars between contractors, so homeowners are not bombarded with phone calls. In this episode, Ryan and Jennifer discuss Jennifer's experience in the trades, how she started helping contractors generate referrals, and her thoughts and tips for growing a trades business.

Once a company is big enough where the business owner doesn't have time to run the company in a big picture sense, AND keep track of the day-to-day business, AND generate sales, the business owner will figure out that there is not enough of them to go around.And for many, this is where they decide they need to hire a salesperson.If this is you, you won't want to miss this episode.For free resources and information about Brian's products, courses, and coaching, go to www.serviceindustrysuccess.com.For a complimentary, 45-minute Success Session with Brian to take on a challenge you are facing, go to: https://calendly.com/success-session-with-brian/45minIf you like video, you can see our video channel on Rumble, here: https://rumble.com/c/c-749893

Listen in as Brad, Nick, and Morgan discuss how the Contractor Coalition Summit came to be. For them, this event provides a rare opportunity for general contractors nationwide to network and optimize their backend to run a more profitable business. They highlight the conference's accessibility, compared to prestigious clubs such as the Builder 20.As our co-hosts explain, the summit is a hub of education, collaboration, where contractors at every stage and size of business are able to share their perspectives and lessons learned with one another. It's an opportunity to “ride along” with someone a year or two ahead of you rather than an industry veteran with decades under their belt.All-in-all, the Contractor Coalition Summit offer a game-changing level of access, value, and camaraderie no general contractor should miss!Register for the next Contractor Coalition Summit nearest you at https://www.eventcreate.com/e/contractorcoalitionsummit. Sponsors:Sub-Zero, Wolf and Cove: Schedule an appointment at subzero-wolf.com/Scottsdale or 480.921.0900 Visit https://buildertrend.com/aft/ to get a 60-day money-back guarantee on your Buildertrend account!Pella Windows & Doors - https://www.pella.com/Topics Discussed: [01:34] The story behind the Contractor Coalition Summit[05:10] What is the summit all about?[13:56] The benefits of having an intimate setting to network in[18:15] How Brad, Nick, and Morgan are changing the industry as a whole[22:21] The power of collaboration[28:06] About next year's summits and the event schedule[32:05] Different perspectives, different contracts[37:02] About NS Builder, construction2style LLC, and AFT[42:57] Learning from those who are a year or two ahead of you in business[49:10] What the summit's guest pass coversConnect with Nick Schiffer of NS Builders:Website - https://www.nsbuilders.com/Instagram (@nsbuilders) - https://www.instagram.com/nsbuilders/?hl=enYouTube - https://www.youtube.com/channel/UCIo1gaS5cLsCtgaCLhi08cgLinkedIn (Nick Schiffer) - https://www.linkedin.com/search/results/all/?heroEntityKey=urn%3Ali%3Afsd_profile%3AACoAAAnByWEBjwTXVmifRwspBtm7nQGtv3BK2MA&keywords=nick%20schiffer&origin=RICH_QUERY_SUGGESTION&position=0&searchId=b36f7a22-139f-4ace-b877-7b300c8b45d3&sid=EYwLinkedIn (NS Builder) - https://www.linkedin.com/company/nsbuilders/Facebook - https://www.facebook.com/nsbuilderPodcast (NS Builders Podcast) - https://www.nickschiffer.com/podcastPodcast (The Modern Craftsman Podcast) - https://www.themoderncraftsman.org/Connect with Morgan Moliltor of construction2style LLC:Website - https://construction2style.com/Instagram (@construction2style) - https://www.instagram.com/construction2style/?hl=enLinkedIn - https://www.linkedin.com/company/construction2style-llc/TikTok - https://www.tiktok.com/@construction2style?_t=8VFPmTFcWrq&_r=1YouTube - https://www.youtube.com/channel/UCw0DTGNtruFv6XgcVliM5JwPinterest - https://www.pinterest.com/c2s_molitor/Connect with Brad Leavitt:Website - https://www.aftconstructionpodcast.com/Instagram - https://instagram.com/aft_constructionFacebook - https://www.facebook.com/aftconstructionHouzz - https://www.houzz.com/pro/aft-construction/aft-constructionPinterest - https://www.pinterest.ph/AFT_CONSTRUCTION/YouTube - https://www.youtube.com/channel/UCzB4R_DHPVV1SPh7RUfR5jgKey Quotes by Nick and Morgan:At the summit, the information is going to be provided. It's up to me if I want to implement it or not. But, just being around the people in that intimate setting—when you have that close group, you have the opportunity to talk to every single person one-on-one. ~NickI believe in my gut that we're changing the industry as a whole. ~MorganThe best education is to ride along with someone right in front of you, rather than looking at someone that did it 50 years ago. There's more value in chasing the person who's done it a year or two ahead of you. ~Nick.

In this week's “Throwback Thursday / Where are they now?” segment, we hear from a New York City opera singer, home contractor, and primary caregiver. Like many side hustlers, she stays busy! Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week. Show notes: SideHustleSchool.com Email: team@sidehustleschool.com Be on the show: SideHustleSchool.com/questions Connect on Twitter: @chrisguillebeau Connect on Instagram: @193countries Visit Chris's main site: ChrisGuillebeau.com If you're enjoying the show, please pass it along! It's free and has been published every single day since January 1, 2017. We're also very grateful for your five-star ratings—it shows that people are listening and looking forward to new episodes.