Random Thoughts.....

Loganwayne said:
Taking all my continuing ed class this week. It is shocking that 80% of these classes are full of people over 60. I think there is going to a huge gap in licensed builder and licensed trades people in the next 10 years.
Click to expand...
I've been seeing this happen for the last 15 years.

The huge school I'm doing CA on right now in Statesville is run by a team of 12 guys in a 2 story job trailer. None of those guys are over 35

Nice trailer though

IMG_20250528_100015235~2.jpg
IMG_20250528_095920775_HDR.jpg
 
CasterTroy said:
I've been seeing this happen for the last 15 years.

The huge school I'm doing CA on right now in Statesville is run by a team of 12 guys in a 2 story job trailer. None of those guys are over 35

Nice trailer though

View attachment 448385View attachment 448386
Click to expand...
How many of them are license holders?

I see alot of these builders going out of business when the owner dies/ retires because no one else in the company has a GC license. Maybe not so much in commercial but in residential i think alot of these mid size builders will be gone in a few years.

Then add to the fact you have to have a backer with some money or alot of money yourself to get an unlimited license now.
 
Loganwayne said:
How many of them are license holders?

I see alot of these builders going out of business when the owner dies/ retires because no one else in the company has a GC license. Maybe not so much in commercial but in residential i think alot of these mid size builders will be gone in a few years.

Then add to the fact you have to have a backer with some money or alot of money yourself to get an unlimited license now.
Click to expand...

I dunno - I’m always amazed at how low the financial requirements are for unlimited.
It’s strange the difference between NC/SC.
SC has zero continuing ed requirement. Once you pass the test they assume you know everything new forever. BUT every 2 years you either have to submit CPA audited financials showing a NW requirement or WC requirement (which again is surprisingly low to me) OR submit an actual performance bond - again for a too low (in my opinion) amount.
NC in contrast license renews every year. Continuing ed every year. But all I have to do is get a letter from bond company that I am bondable up to - again a surprise lay low amount.

It’s crazy to me that if I can show I have $200k cash - I can contract to do a $50MM job.
 
benXJ said:
that guy up there in the blue shirt and khakis is under 35?!
Click to expand...

This work is hard on folks lol. I had a full head of hair when I started 10 years ago lol.
 
Ron said:
I dunno - I’m always amazed at how low the financial requirements are for unlimited.
It’s strange the difference between NC/SC.
SC has zero continuing ed requirement. Once you pass the test they assume you know everything new forever. BUT every 2 years you either have to submit CPA audited financials showing a NW requirement or WC requirement (which again is surprisingly low to me) OR submit an actual performance bond - again for a too low (in my opinion) amount.
NC in contrast license renews every year. Continuing ed every year. But all I have to do is get a letter from bond company that I am bondable up to - again a surprise lay low amount.

It’s crazy to me that if I can show I have $200k cash - I can contract to do a $50MM job.
Click to expand...
im just salty about the bond because no one would bond my company because it is a new company, and have no contracts or income yet. I argueed with the bonding companies on how i was suppose to get contracts if i couldnt get bonded. Im not even sure what their liability would be on the bond. its a bond to prove i have funds, but i dont have the funds thats why you get a bond. Its not even a contract bond just a bond to get license.
 
benXJ said:
small jobs, stack some cash, then step up to the big game?

or just put a black/indian/some darker skin person on the ownership docs and get whatever you want?
Click to expand...
Sigh....racist much?
That's a rhetorical question.

The application is for an entity, not an individual. Entities dont have races - or skin - the board has no idea what color the applicant is.
 
Loganwayne said:
im just salty about the bond because no one would bond my company because it is a new company, and have no contracts or income yet. I argueed with the bonding companies on how i was suppose to get contracts if i couldnt get bonded. Im not even sure what their liability would be on the bond. its a bond to prove i have funds, but i dont have the funds thats why you get a bond. Its not even a contract bond just a bond to get license.
Click to expand...
NC GC Unlimited is $150k NW, right?

If you are all in - and if you aint - you need to be before you make the jump - personal assets can stand for the business. Having $150k equity in your primary residence alone isnt that difficult in the recent economy.

If I can help, shout. There's more personal info Ill share in private....but when we made the jump...it was straight into the deep end.

I went to sleep one night with zero debt, a paid for house and a couple hundred grand in the bank.

I woke up the next day with $20k in the bank, security liens on my home and every vehicle I owned and a couple million in debt. It WILL be worth it eventually...but I often wonder how crazy I was.
 
Ron said:
NC GC Unlimited is $150k NW, right?

If you are all in - and if you aint - you need to be before you make the jump - personal assets can stand for the business. Having $150k equity in your primary residence alone isnt that difficult in the recent economy.

If I can help, shout. There's more personal info Ill share in private....but when we made the jump...it was straight into the deep end.

I went to sleep one night with zero debt, a paid for house and a couple hundred grand in the bank.

I woke up the next day with $20k in the bank, security liens on my home and every vehicle I owned and a couple million in debt. It WILL be worth it eventually...but I often wonder how crazy I was.
Click to expand...
the bitch is our house is in a living trust, that goes to us once my wifes aunt passes. so primary residence doesnt help me. Wifes parents are working on putting all their assets into our names, mainly so they cant be taken if either ends up in a nursing home. but this would help me out as well.
 
A freaking lifetime ago since the world went wild from this.
I miss BaumsWorld
 
Loganwayne said:
mainly so they cant be taken if either ends up in a nursing home.
Click to expand...

That's very smart on your part.

I did something similar with my mother after Cervical and Kidney cancer 6 years ago. The look-back is 5 years so we're finally at that stage that if she needs assisted living or full on nursing care, there is nothing to take.
 
CasterTroy said:
That's very smart on your part.

I did something similar with my mother after Cervical and Kidney cancer 6 years ago. The look-back is 5 years so we're finally at that stage that if she needs assisted living or full on nursing care, there is nothing to take.
Click to expand...
yeah they saw what happens when my father in laws mother had to go to a nursing home. If my wifes aunt wouldn't have had a mental issue and her grandparents put everything into a living trust so no one could take advantage of her, they would have lost everything her grandparents worked to have.
 
CasterTroy said:
That's very smart on your part.

I did something similar with my mother after Cervical and Kidney cancer 6 years ago. The look-back is 5 years so we're finally at that stage that if she needs assisted living or full on nursing care, there is nothing to take.
Click to expand...
Flip side is - inheritance tax break is lost on transfer.
 
Ron said:
Flip side is - inheritance tax break is lost on transfer.
Click to expand...
CasterTroy said:
No sir. "One time gift"
Click to expand...
yeah, obviously it depends on the size of the estate we're talking about but you can still gift a lifetime max of $14m per individual, $28m between spouses before any taxes.
 
in other news

I call it an elevator, but my British friend calls it a lift.
I guess we were just raised differently.
 
The British word for cigarette is fag .... kinda works though .... you do suck on it!
 
Last edited by a moderator:
jeepinmatt said:
One of my favorite past times is yelling at people while driving.
Click to expand...
How can half the people on the road be friggin maniacs driving faster than me, and the other half be bafoons driving too slow for me !?
 
Back
Top