Podcasts about general contractors

In this episode of the Real Estate Pros podcast, Michael Stansbury interviews  Adam Leutik, a general contractor and real estate investor from Nebraska. Adam shares his journey from a scarcity mindset to embracing abundance through mentorship and networking. He discusses the daily realities of being a contractor, the importance of problem-solving in real estate, and the challenges of building a supportive team. Adam emphasizes the value of community, the lessons learned from failure, and the transformative power of positive thinking and mentorship. Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

In this episode of the Real Estate Pros Podcast, host Michael Stansbury interviews Olexiy Buyadgie, who shares his unique background and journey from Ukraine to the United States, where he now works on innovative building technologies aimed at improving energy efficiency in real estate. Alexi discusses his work with the Department of Energy, focusing on solutions that optimize energy use in residential and commercial buildings. He emphasizes the importance of proper insulation and the integration of AI to enhance energy management. The conversation also touches on the future of eco-friendly real estate developments, including Alexi's vision for an eco hotel and community projects. Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

Matt goes solo this week to share hard-earned wisdom from his 30-year construction. He outlines three foundational principles that have shaped his success—and helped him recover from serious setbacks.1. Understand Building ScienceMatt emphasizes the importance of knowing how climate, materials, and design affect building durability. Lessons from Portland's mold crises taught him that “if it can't dry, it's going to die.” Builders must master rain control and moisture management to prevent failure and reduce liability.2. Stop BiddingHe shares a cautionary tale of a low-bid roofing contractor whose shoddy work and fake insurance cost him over $30,000. Instead of free estimates and competitive bidding, Matt now uses pre-construction agreements to ensure clients are committed—and to get paid for his time.3. Avoid DebtMatt recounts going hundreds of thousands of dollars into debt during the 2008 recession, even struggling to pay for groceries. He urges builders to stay lean, avoid speculative projects, and budget personally AND professionally. Matt's advice: “Fire Chuck”—his nickname for the debt he couldn't get rid of for years.Matt concludes with a reminder that profit is essential, not shameful. Builders must prioritize long-term sustainability, financial health, and client trust to thrive in a competitive industry.Thank you to our episode sponsors Rockwool & Pella. Learn more at rockwool.com and pella.com.Find Matt and The Build Show on the web:Build Show Videos: https://buildshownetwork.com/go/mattrisingerInstagram: @risingerbuild and @thebuildshowYouTube channel: https://www.youtube.com/@buildshowWebsite: https://buildshownetwork.com/ Save the Date for Build Show LIVE 2025 in Dallas, TX: October 16-18, 2025!Don't miss a single episode of Build Show content. Sign up for our newsletter.

Send us a textAre you a General Contractor struggling to grow your business and turn a profit?

As a global expert in high-performance business growth, a New York Times bestselling author, and one of the world's top ten motivational speakers, Dan Clark has inspired leaders worldwide. He's dedicated to strengthening Utah's workforce and supporting local businesses. Dan Clark, joins us with more. Dan Clark: In my 35-year career, I've delivered over 5,500 speeches in 75 countries, working with Fortune 500 companies, Super Bowl champions, military commands, and the United Nations. But my greatest satisfaction comes from working with Utah businesses like L3 Communications, The Buckner Company, Maverik, IMC, Rio Tinto, NuSkin, Stein Eriksen Lodge, the Association of General Contractors, Utah Bankers Association, and many many more incredible organizations! My expertise is resetting organizational cultures to peak performance — redefining what's possible, igniting resilience, strengthening teamwork, and accelerating growth through change. My 3-step strategy teaches: “Every culture is created between the strongest belief, highest expectations, and best behavior the leader lives by — and the worst behavior the leader tolerates!” In technology, I emphasize balancing high tech with high touch. AI is a tool, but how, when, and why we use it is a choice. AI replaces tasks, not talent — the most powerful intelligence is not artificial or replaceable. Derek Miller: Dan Clark helps individuals and organizations achieve peak performance through keynote speeches, leadership training, and coaching. Schedule a call to discuss your leadership and sales training needs at DanClark.com. I'm Derek Miller, with the Salt Lake Chamber, Speaking on Business. Originally aired: 5/8/25

Send us a textHave you ever stopped to wonder why you're getting paid, yet never seem to have enough cash flow at the right time during construction?

This episode is a re-run. It was originally published in July 2023.Want to rise above the competition? Listen to this episode to learn how to leverage your client's reputation for a competitive edge.Struggling with unfair contracts or slow payments in construction? With 6,000+ contracts reviewed and $20 billion in contracts managed, Quantum Contracts' proven framework is designed to help you negotiate fair contracts, secure faster payments, avoid disputes, and improve cash flow.Don't let contract issues hold you back—gain the confidence to focus on growing your business. Ready to take control and make more profit per project?Click here to IMPROVE your contracts using the Quantum Contract System: quantumcs.co/Yt2025Click here to BOOST your profit margins up to 15%: quantumcs.co/YtO3SimpleChangesClick here to GAIN expert advice weekly for FREE: quantumcs.co/YTNewsOptInTimestamps:(2:33) - If you get a bad PM, like that can be terrible. I mean, that can really affect your profitability on a project, if not managed correctly(4:13) - So the way to approach this is you need to be doing it at the start and building that relationship with the project manager(4:19) - So there's two things you wanna build. One, you wanna build the reputation of their company. And two, you wanna build, if you can, build a reputation of that PM(8:02) - Remember that you want to give them a reputation to live up to because they will live up to itDISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.Follow our Socials and let's get connected! ⤵️⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠YouTube⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠ | ⁠⁠⁠⁠Twitter

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☎️Schedule your free business evaluation call with our team HERE  – EPISODE 387: Does it ever feel like your construction business is sinking? That moment when you wonder, “Is this even worth saving?” You're not alone. Every business owner hits that wall. But here's something most people miss: It's not your circumstances that are causing the problems—it's the story you're telling yourself. In this week's episode of The Construction Leading Edge podcast, I'm sharing nine powerful strategies that will help you break free from a business slump. We'll cover: → What most people typically do when things aren't going well → Powerful ways to handle business adversities → Key lessons from Napoleon Hill's Think and Grow Rich → The Stockdale Paradox and more! If you've ever felt like throwing in the towel or burning it all down, this episode is for you. Let's dive in!   Key Takeaways: Introduction (00:00) What we do when things aren't going well (00:57) Separate observable facts (01:43) Detach from the situation (05:34)  Cultivate a habit of gratitude (06:37)  Control the controllables (07:45)  Reframe the situation (09:01) The Stockdale Paradox (12:53) Take extreme ownership (17:14) The catastrophizing exercise (19:17) Do a mental hygiene (21:06) Final advice (23:26)   Additional Resources: - Schedule your free business evaluation call with our team HERE    Books Mentioned: - Good to Great by Jim Collins - Think and Grow Rich by Napoleon Hill - The Obstacle is the Way by Ryan Holiday -- The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time. Follow us on your favorite podcasting platform so you never miss an episode!  

☎️Schedule your free business evaluation call with our team HERE  – EPISODE 386: Do you feel like your construction business is running you instead of the other way around? Do you constantly bring your work home? For many construction business owners, weekends also mean emails and phone calls. Often, family dinners turn into business meetings. But not anymore! In this week's episode of The Construction Leading Edge podcast, I sit down with two of my favorite Canadians—and students of our Systematized Your Construction Business (SYCB) program—Laughlin and Ross Franklin. Originally overwhelmed by the volume of work, the brothers struggled with a lack of structure and constant reactive management. After joining our program, they implemented powerful tools that transformed their construction company (and also their lives). Today, the Franklin brothers share: ➡What chaos actually looks like in construction ➡The exact blueprint that reduced chaos in their business ➡How systematizing their business improved their quality of life ➡Tips for getting your team on board with change …and more! Ready to escape the construction chaos and get your life back? Let's dive in!   Key Takeaways: Introduction (00:00) The Franklin brothers' construction business (02:04) What chaos looks like in construction (06:03)  From organized chaos to systematized operations (12:04)  Core systems and processes behind their business growth (20:28) How systems transformed their construction business (21:55) Does construction have to be chaotic? (27:24) Life after systematizing operations (30:17) How to implement systems that stick (33:34)  Getting your team aligned with change (36:13) The CEO Alliance (42:38) Final thoughts and advice (45:44)   Additional Resources: - Schedule your free business evaluation call with our team HERE  -- The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time. Follow us on your favorite podcasting platform so you never miss an episode!  

Send us a textSales Velocity: The speed at which a company moves from initial contact with a lead to successfully closing the deal

☎️Schedule your free business evaluation call with our team HERE 

☎️Schedule your free business evaluation call with our team HERE 

Inside the World of Luxury Spec Home Development with Pacific Luxury Partners - Roy Lhanie and Morry SadeToday we have on the show two friends , Roy Lhanie and Morry Sade who together make Pacific Luxury Partners which is a premier real estate development firm specializing in high-end, design-driven spec homes across Southern California. BiosRoy LhanieRoy is licensed REALTOR® since 2008, Roy is the driving force behind a top-producing team at Equity Union Real Estate. With deep roots in the San Fernando Valley and over $600 million in closed transactions. Roy leads a team of five agents out of Encino and Sherman Oaks, specializing in both the San Fernando Valley and Westside.He earned his Bachelor's in Communication Studies with an emphasis in Advertising from California State University, Northridge.  He is married with 2 children. Morry SadeMorry Sade is a seasoned General Contractor with over a decade of experience in buying, selling, and remodeling real estate. In 2007, Morry joined a leading low-voltage construction company, working on multimillion-dollar homes. The following year, he became a licensed real estate agent, and by 2009, he was recruited by one of the largest real estate development firms in the region and became a Senior Project Manager overseeing the development and remodeling of more than 1,000 properties.Main Interview Topics: 1. Origins of the Partnership• How did the two of you meet and decide to collaborate?2. Vision & Philosophy of Pacific Luxury Partners• What inspired you to launch a company focused on luxury spec homes?3. Anatomy of a Luxury Spec Build• What are the must-have features you include in every project?• How do you decide on floor plans, finishes, and smart home integrations?4. From Land to Luxury: The Full Process• How do you identify the right lots or teardown opportunities?• What's your workflow from acquisition to final listing?5. Understanding the Luxury Buyer• What are some things high-end buyers care about that the average builder might miss?• Do you build speculatively with a target buyer in mind, or do you let the product speak for itself?6. Challenges & Learning Moments• What has been the most challenging project you've worked on so far?• Any stories of projects that didn't go as planned and what you learned from them?8. Building for Wellness & Longevity• Are you integrating wellness-focused or sustainable elements in your builds?• What are some healthy habits you both have to help you stay focused, healthy and functional?9. Advice for Aspiring Developers & Agents• What advice would you give someone who wants to break into luxury spec building?11. Closing• Where can listeners find you or learn more about your current listings and upcoming builds?*How to contact our guests*WEBSITE - https://pacificluxurypartners.com/  Brad Umansky's LinkedIn ProfileBrad Umansky's Book - Value Added: Successful Strategies For Listing & Selling Investment Real EstatePlease take the time to leave a review and subscribe to our Podcast! Thank you for Listening.

☎️Schedule your free business evaluation call with our team HERE 

☎️Schedule your free business evaluation call with our team HERE 

In this episode, Christian interviews Jack Davis, a general contractor with extensive experience in real estate contracting. They discuss common mistakes homeowners and investors make when hiring contractors, the importance of budgeting and planning for contingencies, navigating the permit process, and key clauses to include in contracts. Jack shares insights on managing multiple projects, the challenges of working with clients, and the significance of building strong relationships with subcontractors. The conversation emphasizes the importance of trust and communication in successful construction projects.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

Matt and his business partner, Tim Hill, dive deep into the realities of profitability in the construction industry. Recorded in the brand-new Risinger Build studio, Matt & Tim share a candid conversation about the challenges general contractors, home builders, and remodelers face when it comes to profit margins, client expectations, and project planning. Despite the common misconception that builders are highly profitable, they reveal that average net profits hover around just 5–6%. This low margin—combined with high risk—requires smart planning, detailed pre-construction processes, and disciplined financial management to ensure long-term sustainability.Matt and Tim stress the importance of transparency in pricing and standing firm on realistic budgets, even if it risks losing a job. They warn against chasing "portfolio projects" that look good on paper but lead to financial losses and client frustration. A major theme is the need for builders to carefully align with clients, architects, and budgets before contracts are signed to avoid scope creep and misaligned expectations.Not only do Matt & Tim discuss the “what” and the “why” of profit margins but also share the “how” to manage profit and loss statements effectively, including separating direct costs, indirect costs, and overhead.Thank you to episode sponsor Arclin! Learn more about their brand-new product, Firepoint: https://firepoint.arclin.com/.Find Tim on the Web:Website: https://risingerbuild.com/Instagram: @risingerbuild_atx & @tim_risingerbuildFind Matt and The Build Show on the web:Build Show Videos: https://buildshownetwork.com/go/mattrisingerInstagram: @risingerbuild and @thebuildshowYouTube channel: https://www.youtube.com/@buildshowWebsite: https://buildshownetwork.com/Save the Date for Build Show LIVE 2025 in Dallas, TX: October 16-18, 2025! Don't miss a single episode of Build Show content. Sign up for our newsletter.

☎️Schedule your free business evaluation call with our team HERE 

☎️Schedule your free business evaluation call with our team HERE 

I grew up working for my dad's construction biz, and I'm still a licensed General Contractor although I only use it for things on my farm these days. In this episode, I'll be going over trends in construction and things you can do to make money in construction or remodeling no matter who's in the White House and no matter what the economy is doing.   Things mentioned in the show: Buy my dad's business- https://drdavea6500c.clickfunnels.com/brick-mortar-funnel-1pl1cdukv  Finding the Right Builder or Remodeler- https://amzn.to/4i5yIEp  --- Check out the sweet Hyper X mic I'm using. https://amzn.to/41AF4px    Check out Dr. Dave's Streams of Income at: www.drdavidpowers.com   www.instagram.com/drdavidpowers  www.youtube.com/@streamsofincomebydrdave  --- Join the Streams of Income community at www.facebook.com/groups/streamsofincomedream  --- Check out Passive Income Engines to find your own Streams of Income at www.SelfCoachYourself.com --- Check out my best-selling books: Rapid Skill Development 101- https://amzn.to/3J0oDJ0 Streams of Income with Ryan Reger- https://amzn.to/3SDhDHg Strangest Secret Challenge- https://amzn.to/3xiJmVO --- This page contains affiliate links. This means that if you click a link and buy one of the products on this page, I may receive a commission (at no extra cost to you!) This doesn't affect our opinions or our reviews. Everything we do is to benefit you as the reader, so all of our reviews are as honest and unbiased as possible. --- #passiveincome #sidehustle #cryptocurrency #richlife  

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Our host, Gareth McGlynn, welcomes back Bob Kovacs, Director of Preconstruction at Albion General Contractors, for another insightful conversation. Having previously joined us in 2022, Bob returns to discuss his career shift and key industry topics shaping preconstruction today.Discussion Highlights:

Earlier this year we collectively watched in horror as Los Angeles burned. In all, at least 29 people were killed, 200,000 were forced to evacuate, and more than 18,000 homes and structures were destroyed. Many, like our own Peter Tilden were forced from their homes. While thankfully his house wasn’t destroyed, it remains covered in a toxic soot, consisting of noxious chemicals and other unknown particulates. Months later his home, like so many others is still uninhabitable. Really, no really. As Peter and other Angelinos struggle with insurance companies, shady contactors, temporary housing, and more, we wondered: How are people, whether by fires or floods, hurricanes or tornadoes, able to go home again? That’s why we invited James Mayfield CEO of Mayfield Environmental, to educate us on what we all need to know in the aftermath of catastrophe. For two generations James and his family have served Southern California as General Contractors for environmental cleanups. From biohazard and homeless encampment removal to Crime scene and drug lab clean-ups, Mayfield Environmental has seen it all and has a litany of certifications - making sure that when the worst happens, they clean it up the right way without taking you to the bank. *** IN THIS EPISODE: Peter’s house is still standing but... Testing for safety – What tests are really necessary? How traumatizing is it to cleanup a crime scene? Secrets to hiring the right firm to detox your life. HEPA vacuuming? What’s that smell? Can noxious smells be removed? Improper cleaning can actually create a second ecological disaster. So… what was in that smoke & how do you get rid of it? Hoarding, exploding rats and the threat of Hantavirus! FOLLOW JAMES: Website: mayfieldenv.com X: @mayfieldenviro Yelp: Mayfield environmental solutions Facebook: Mayfield Environmental Engineering *** FOLLOW REALLY NO REALLY: www.reallynoreally.com Instagram YouTube TikTok Facebook Threads XSee omnystudio.com/listener for privacy information.

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Skillville Corp (857-829-0067) can help you get the extra square footage you need without moving house! Click https://skillvillecorp.com/additions-levels.html to book your appointment. Skillville Corp City: Methuen Address: 6 Stevens Street, Suite 2 Website: https://skillvillecorp.com/

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If you've been a long-time reader or a contracting company owner, you've probably heard about "Cost of Goods Sold" (COGS). But what does it really mean, and why is it crucial for your construction business's success? Understanding COGS isn't just about accounting—it's about making smart decisions for profitability, pricing, and more.    1. What is the Cost of Goods Sold (COGS)?    COGS represents the direct costs of creating the products/services your business sells/provides. These include materials, labor hours, and even manufacturing overheads. Any expense that contributes directly to a product's creation is included in COGS.   COGS provides critical insights into your business's efficiency and profitability. It's a fundamental metric showing how much you spend to produce inventory relative to your sales.     Contractors often ask us if they can buy our Chart of Accounts with Cost of Goods Sold and import them into their QuickBooks Desktop or QuickBooks Online file. The answer is yes! We also offer the complete QB Setup Template. 2. What are the components of COGS?  COGS isn't one-size-fits-all. It includes different types of costs depending on your business.  Here are the main components typically included in COGS: Materials: Raw ingredients or parts used to provide your service Payroll: The wages you pay to employees directly involved in production Manufacturing Overheads: Indirect costs required to produce services, such as equipment depreciation or utility costs.  Note  General overheads, such as office or marketing costs, are not included in COGS—only expenses tied directly to production count.  3. How do I calculate COGS?  Fortunately, calculating COGS follows a straightforward formula: COGS = Beginning inventory + Purchases during the period – Ending inventory  Breaking it down: Beginning inventory: The inventory value on hand at the start of the accounting period.  Purchases: All costs for new inventory bought or manufactured during the period.  Ending inventory: The value of unsold inventory at the period's end.  Example Calculation  Imagine you run a small boutique that sells handmade gifts. If: Your beginning inventory is $5,000,  You spent $8,000 on materials and production, and  Your ending inventory is $2,000,  Then your COGS would be:  $5,000 + $8,000 – $2,000 = $11,000  This $11,000 represents the cost of creating the products you sold during the period.  But wait - that is for a retail business. Simple. What about construction? Direct Costs are tied to the jobs (field labor, materials, and other cost items). Office materials (pencils, paper, toner, etc.) are overhead. Yes, an accountant could say these many pencils are used in the field and that notepad is used in the truck.  The answer is the dividing line of the direct costs to the job: the Costs of Goods Sold (COGS). That is why we've created our Chart of Accounts, which you can use inside QuickBooks, depending on your type of construction business. Most COGS accounting methods you will find are for inventory valuation, which is confusing to most contractors. Confusion always arises about the material. A construction contractor may purchase material and resell it to their customer at cost, thinking it is a reimbursable expense. (You lose money when doing this.)   Remember, all invoices to the Customer (Retail, General Contractor, Spec Builder, Developer) are income. Washington State has a clear explanation. If the words are on the invoice, then the invoice is either taxable or non-taxable based on other factors. Every line item on a customer invoice is income.   Purchases for the material are the Cost of Goods Sold or expenses if you are short-cutting your accounting. I have seen financial statements backed out because they will reflect reimbursable income as a negative number, thereby showing it as a deduction. (The net effect is double-dipping on the expense side.) The cause is that the accounting software is not being correctly set up. We fix bad QuickBooks setups for Construction Contractors. New Construction Home Building is another area of confusion. In the mind of many construction contractors, a Spec home is any new house being built for resale. That is true; it is a New Construction House. The question is on the construction accounting side. For the Owner and Developer (who might be the General Contractor running the job), it is a Spec Home.  For the General Contractor who is building a New Construction Home for a Developer, it is NOT a Spec Home. Why might it seem the same as both are New Construction Houses? The question to be answered is, "Who owns the house?" - It is a Spec House in the accounting system for THE OWNER.     If the General Contractor does not own the house, then from the accounting side for that specific General Contractor, the house is a Custom Home with an owner who is not the General Contractor.   Suppose the General Contractor or developer owns the new house being built. In that case, it is a Spec House in the Accounting System. All costs roll up into WIP (Work-In-Process) and convert to COGS when the house is sold, not before. Recognize expenses when the home sells. Otherwise, expenses one year and sales the next equals taxes.    In Washington State, all construction contractors working for a spec builder must collect sales tax on all services (labor and material) when billed by the general and trade construction contractors. In Washington State, all Construction Contractors working on Custom Homes, Residential or Commercial Projects, large or Small Remodels, or Handyman Projects can accept a reseller permit from the General Contractor. The general contractor bills and collects sales tax from the Owner.   In Washington State, Contractors must collect sales tax on all retail projects, including Labor, Materials, and others. Sales tax must be collected on every line item. Customer Discounts can be given for any reason. And that is just for one state. Pro Tip  Consult with your accountant to identify the best method for your business—tax implications vary by approach.  4. Why does understanding COGS matter?  Knowing your COGS is a game-changer for managing and growing your business. Here are some ways it benefits you: Profitability analysis - COGS is crucial for calculating gross profit. Subtracting COGS from revenue reveals how much your products contribute to your bottom line.  Pricing strategy - Understanding how much a specific project costs allows you to set prices that cover expenses while leaving room for profit.  Financial reporting - COGS is necessary for accurate income statements and tax reporting. It also demonstrates operational efficiency, which is key for attracting investors or securing loans.  Tax benefits - COGS are deductible, reducing your taxable income. The more precise your calculations, the better-positioned you'll be during tax season.  5. How can your accountant help  Managing COGS can be complex, but you don't have to go through it alone. Your accountant is your best ally when navigating this process.  They can: Help you set up your Contractor Chart of Accounts Ensure all eligible expenses are accounted for (and not missed!).  Revise your tax strategy while staying compliant with regulations.  One of the most dangerous and difficult steps in setting up the Chart of Accounts is during QuickBooks setup, especially for contract service-based businesses. Get this one thing right, and your QuickBooks for contractors can generate useful financial and job costing reports. If you get it wrong, you will never get useful reports, no matter who handles your contractor's bookkeeping services needs. The reports you do get could lead you to make decisions based on insufficient information that could destroy your entire construction company. A thought  Understanding your Cost of Goods Sold isn't just an accounting exercise—it's the foundation for business success. Calculating and tracking COGS effectively will empower you to make better pricing, profitability, and growth decisions.  Why struggle with numbers when you can partner with someone who lives and breathes construction accounting? Freeing up your time lets you focus on growing your business. You are never too small for us to help, and we can help you begin with your first day in business.    I am looking forward to being of assistance.   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  

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In episode 63, we talk about the differences between renovating a house in the US from the UK. Michael starts very well in a quiz...but soon tapers offOther Show NotesLearn more about how America's culture developed in Julian Bishop's High, Wide, and Handsome.Learn more about America's future in Julian's second book, Are We There Yet

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Here's how I can help you: Courses https://www.dickersoninternational.com/courses Mentorship https://www.dickersoninternational.com/mentorship Connect with me here: Facebook: https://www.facebook.com/pg/thegregdickerson Instagram: https://www.instagram.com/thegregdickerson LinkedIn: https://www.linkedin.com/in/agregdickerson Twitter: https://twitter.com/agregdickerson YouTube: https://www.youtube.com/user/agregdickerson/?sub_confirmation=1 Podcast: https://www.dickersoninternational.com/podcast #realestatedevelopment #realestateinvesting #realestate Greg is a serial entrepreneur, real estate developer, coach and mentor to high level investors around the world. He has bought, developed and sold over $250 million in real estate, built and renovated hundreds of custom homes and commercial buildings, developed residential and mixed-use subdivisions and started 12 different companies from the ground up. Greg currently mentors some of the top entrepreneurs, real estate investors and real estate developers in the country helping them grow and scale their business, raise more capital and do bigger deals. Greg's current clients have over $2 billion in AUM and deals in the process. Greg is an expert on the topics of entrepreneurship, leadership and real estate and is regularly interviewed on some of the top real estate investing and business podcasts today. Greg served in the United States Navy right out of high school and has always been a leader in the community as well as supporting, advising and serving on the boards of several churches, ministries and non-profit organizations. This channel is all about Entrepreneurship, Real Estate Investing and Real Estate Development *Nothing in this video or podcast is meant to be construed as legal or investment advice, it's for entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future. WATCH OUT FOR SCAMMERS IN THE COMMENTS I do not have a telegram, discord or any tother type of paid group. I will not contact you here or on other platforms. Scammers are using my name and picture. My real profile has a dark background around my name. I will not ask you to contact me, ask you for money or give you any contact info. Do not contact anyone in the comments. PLEASE HELP BY REPORTING AND DELETING ALL THESE SCAMMERS. Thank you!

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Enjoy this conversation with Sam Rockaway, VP of Sales at Design/ Build Firm REDCOM. Click to text the show! Email Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*Some or all of the show notes may have been generated using AI tools.

EPISODE 370: Do you feel like your construction business is running you instead of the other way around? In this latest episode of the Construction Leading Edge podcast, I sit down with Tod Ingersoll, founder and president of NuWood Creations, about how he turned his chaotic construction business into a well-oiled 7-figure business machine. Tod shares his journey from the corporate world to running a successful design-build construction company. He reveals how Lean management strategies can revolutionize your business, why pre-construction planning is non-negotiable, and the surprising impact of empowering your team. Don't miss this riveting discussion on systematizing and scaling your construction business so you can finally reclaim your time! Let's dive in!   Key Takeaways: Introduction (00:00) Tod Ingersoll's journey into construction (02:43) Applying Lean management strategies in construction (07:57) Manufacturing vs. construction mindset (09:02) The challenges of a growing business (14:50) Ripple effects of outgrowing a business system (20:34) Importance of a robust pre-construction process (23:22) Impact of having clear systems and processes (26:50) Tips for getting your team on board with new processes (30:42) How to empower your team (33:35) Reclaiming time freedom (38:58) Advice for those thinking of joining the SYCB program (40:33) Keys to implementing systems and processes (44:48) Advice to new construction business owners (48:42) Episode wrap-up (49:52)   Additional Resources: - Download our FREE Strategic Planning Guide HERE - Schedule your FREE business evaluation call with our team HERE  - Learn how to make your business run without you HERE   Connect with NuWood Creations: - Follow NuWood on Facebook and Instagram - Visit NuWood Creations' website for more information HERE -- The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time. Follow us on your favorite podcasting platform so you never miss an episode!  

EPISODE 369: Is your construction business stuck in chaos? How do you build a thriving multi-generational construction business? Join us as we uncover the secrets to creating a self-managing construction business that thrives for generations. In this week's episode, I sit down with Rocky Rhodes, co-owner of Dusty Rhodes Homes–a Kansas City-based custom home builder operating for nearly 60 years. Rocky shares his journey from chaos to clarity, breaking down the strategies that helped his family business stand the test of time. Today, you'll discover: How trust and defined roles sustain family-run businesses The game-changing power of paid estimates Insights from the 2008 financial crisis that shaped Rocky's CEO mindset The role of systems and processes in building a construction company that runs without you Whether you're managing a legacy business or starting fresh, this episode is packed with actionable takeaways to help you scale sustainably. Tune in now to learn more!   Key Takeaways: Introduction (00:00) Meet Rocky Rhodes of Dusty Rhodes Homes (02:03) Key to building a multi-generational business (04:58) Creating a high-trust environment in construction (09:17) Lessons from the 2008 financial crisis (11:53) Insights on the 2025 economy and housing market (15:22) Transitioning to paid estimates for better clients (20:14) Freeing time through better systems and a CEO mindset (28:04) Financial impact of reducing inefficiencies (38:26) Benefits of joining the CEO Alliance (42:36) Rocky's business and personal goals for 2025 (49:38) Rapid-fire questions (53:41)   Additional Resources: - Download our FREE Strategic Planning Guide HERE - Schedule your FREE business evaluation call with The Construction Leading Edge team HERE  - Learn how to make your business run without you HERE - Check out Dusty Rhodes Homes for more information HERE -- The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time. Follow us on your favorite podcasting platform so you never miss an episode!  

Want to Start or Grow a Successful Business? Schedule a FREE 13-Point Assessment with Clay Clark Today At: www.ThrivetimeShow.com   Join Tim Tebow, LIVE and in-person at Clay Clark's December 5th & 6th 2024 Thrivetime Show  Business Workshop!!! Learn Branding, Marketing, SEO, Sales, Workflow Design, Accounting & More. **Request Tickets & See Testimonials At: www.ThrivetimeShow.com  **Request Tickets Via Text At (918) 851-0102   See the Thousands of Success Stories and Millionaires That Clay Clark Has Helped to Produce HERE: https://www.thrivetimeshow.com/testimonials/ Download A Millionaire's Guide to Become Sustainably Rich: A Step-by-Step Guide to Become a Successful Money-Generating and Time-Freedom Creating Business HERE: www.ThrivetimeShow.com/Millionaire   See Thousands of Case Studies Today HERE: www.thrivetimeshow.com/does-it-work/  

EPISODE 368: What if hiring the right people could solve most of your construction business problems? This week, Isaac Barlow, founder and former CEO of Busybusy, and Derrik Shakespear, chief revenue officer of Busybusy, reveal how construction business owners can attract and retain top talent. They unpack what makes an A-player thrive, why a flat culture can outperform traditional operational hierarchies, and practical methods to avoid bad hires. Packed with real-world examples and insights, this episode is a must-listen for construction leaders seeking to build their dream team that drives freedom, impact, and profitability. Ready to hire only the best? Tune in now!   Key Takeaways: Introduction (00:00) Meet Isaac Barlow and Derrik Shakespear (01:52) What is a flat culture? (08:01) The importance of extreme ownership (12:49) Why do owners hire people two levels below them? (17:47)  What A-players look for in an organization (24:14)  The value of tracking and rewarding employee performance (28:35) How to prevent bad hires (36:58) The six-word hiring framework (43:55) Episode wrap-up (46:44)   Additional Resources: - Download our FREE Strategic Planning Guide HERE - Schedule your FREE business evaluation call with our team HERE  - Check out Busybusy and get your 14-day free trial HERE - Visit Tech Ridge for more information HERE   -- The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time. Follow us on your favorite podcasting platform so you never miss an episode!  

Boyan Salha is a seasoned General Contractor and the leader of his company Best Fit Homes. He joins us to share how he learned to source and renovate deals from working with a large investment group. Boyan starts by explaining the investing lessons learned by working with a large investment group alongside previous guest Kirby Atwell! He breaks down how he sources and finances distressed properties. He discusses his flipping experiences and how margins have changed over the years. Boyan talks about building relationships with subcontractors and the value that a quality General Contractor brings to their client. This show is full of golden nuggets from the perspective of an investor GC! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! ============= Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Boyan Salha, Best Fit Homes Link: SUCI Ep 321 - Kirby Atwell Link: George Wyatt (Home Inspector Referral) Link: Patrick Bet David (YouTube Channel) Link: Atomic Habits (Book Recommendation) Guest Questions 02:44 Housing Provider Tip - Adjust terms so rentals being marketed in the winter end during the spring/summer rental season. 05:17 Intro to our guest, Boyan Salha. 12:21 Connecting with Kirby Atwell and getting into real estate. 23:51 Starting a General Contracting business! 28:18 Financing distressed properties. 30:42 Transitioning from flips to owning rentals. 39:43 Working as a General Contractor for third parties. 42:31 Growing a team of sub-contractors and the value of a good GC! 48:58 Boyan's investing strategy in 2024 and outlook on Chicago. 52:58 What is your competitive advantage? 53:30 One piece of advice for new investors. 54:35 What do you do for fun? 55:30 Good book, podcast, or self development activity that you would recommend?  57:08 Local Network Recommendation?  58:36 How can the listeners learn more about you and provide value to you? ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2024.

EPISODE 367: Is chaos keeping you from scaling your construction business? In this episode, I'm joined by Wes Palmisano, founder of WJ Palmisano Construction, who scaled his company to $250M and 250 employees by fostering innovation and streamlining operations. Wes shares his entrepreneurial journey, starting with his family's construction legacy to creating it into a complex, multi-faceted business. From leveraging a “Renegade” mentality to rethinking pre-construction planning and building trust with trade partners, this episode is packed with actionable insights for contractors and construction business owners looking to scale without the chaos. Ready to take your business to the next level? Let's jump right in!   Key Takeaways: Introduction (00:00) Wes Palmisano's construction journey (01:16) Tackling construction's biggest problems (04:55) Barriers to construction innovation (07:29) What is a master builder? (12:00) Internal vs. external trade partners (14:52) Building trust with trade partners (21:38) Why preconstruction is crucial (23:35) Scaling a business with systems and processes (32:38) The guardrail approach explained (38:15) Scaling advice for construction business owners (41:01) Rapid-fire questions with Wes (46:39) Episode wrap-up (49:52)   Additional Resources: - Download our FREE Strategic Planning Guide HERE - Schedule your FREE business evaluation call with our team HERE    Connect with Wes: - Follow Wes on LinkedIn HERE - Check out WJ Palmisano Construction HERE   -- The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time. Follow us on your favorite podcasting platform so you never miss an episode!  

EPISODE 366: Want to scale your construction business without the chaos? Torrey Hawkins, President of Angler Construction, LLC, shares how he managed to scale his construction business to $200 million in annual revenue. In this week's episode of The Construction Leading Edge podcast, I sit down with Torrey to talk about... the biggest challenges in growing a business to $200 million per year the systems and processes that propelled his business to success how to lead a construction team through uncertain times what his day looks like as a 9-figure business owner And a whole lot more! Whether you're looking to systematize your construction business or tackle the next phase of growth, this episode is packed with actionable insights. Don't miss Torrey's tips on team building, forecasting, and staying resilient through challenges. Let's jump right in!   Key Takeaways: Introduction (00:00) Meet Torrey Hawkins of Angler Construction (01:55) How Torrey started his construction business (03:03) What does the business look like now? (04:28) Biggest challenges during the growth (10:33) Transitioning from in-business to on-business leadership (15:28) Tips for recruiting and hiring top-quality talent (18:43) Importance of systems and processes for scalability (22:23) What does being a visionary leader mean? (29:27) How Torrey spends his time as a 9-figure business owner (35:48) Keeping your team moving forward during a crisis (37:12) Practical ways to share and implement a company vision (42:14) The burning-the-ship mentality (49:23) Managing the double-edged sword of being a visionary (52:22) Episode wrap-up (57:59)   Additional Resources: - Download our FREE Strategic Planning Guide HERE - Schedule a FREE business evaluation call with our team HERE  - Connect with Torrey HERE - Check out Angler Construction HERE -- The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time. Follow us on your favorite podcasting platform so you never miss an episode!