Might Be Looking For a Change

[Rain City]

Totally unrelated to fishing, for the most part...

So some of you follow me on Social Media and have seen that I recently lost my upcoming project. This is the 5th job in 6 years that had a signed contract, got a permit years later (thanks City of Vancouver), we revised the budget to reflect the current pricing and of course the increase in scope. And what do you know, the clients back out. In most cases they don't end up doing the job at all, but on this last one they ended up looking for a cheaper price. So this was a two year, 2.5m project that I had been gearing up for for a long time. I stopped answering the phone 2 years ago because of it. So now this puts me in a place that I haven't been for over 20 years. Nothing to do come October. I'm finishing up two amazing Net Zero projects this summer and then looking for either the next thing, or something completely different. I recently got my certification for guiding, or for using my boat in more of a commercial application. So there's that route. But neither are something I'd want to do full time. I don't have the credit or means to finance my own builds, or not without putting myself into some shady lending or partnerships. So maybe I'm looking for a change, maybe a whole new business. Maybe running someone elses business? I've considered working for PSF or something related to Salmon. I have no idea. I'd love to hear what the wise forum has to say. Or if anything else, maybe I'm just getting this all off my chest.

Thanks guys,

Jon

 

[baddogg]

Good luck with whatever you choose.

 

[Aces]

Totally unrelated to fishing, for the most part...

So some of you follow me on Social Media and have seen that I recently lost my upcoming project. This is the 5th job in 6 years that had a signed contract, got a permit years later (thanks City of Vancouver), we revised the budget to reflect the current pricing and of course the increase in scope. And what do you know, the clients back out. In most cases they don't end up doing the job at all, but on this last one they ended up looking for a cheaper price. So this was a two year, 2.5m project that I had been gearing up for for a long time. I stopped answering the phone 2 years ago because of it. So now this puts me in a place that I haven't been for over 20 years. Nothing to do come October. I'm finishing up two amazing Net Zero projects this summer and then looking for either the next thing, or something completely different. I recently got my certification for guiding, or for using my boat in more of a commercial application. So there's that route. But neither are something I'd want to do full time. I don't have the credit or means to finance my own builds, or not without putting myself into some shady lending or partnerships. So maybe I'm looking for a change, maybe a whole new business. Maybe running someone elses business? I've considered working for PSF or something related to Salmon. I have no idea. I'd love to hear what the wise forum has to say. Or if anything else, maybe I'm just getting this all off my chest.

Thanks guys,

Jon

A fried chicken stand

 

[Rain City]

A fried chicken stand

Fried chicken became too much of a fad. Market is flooded.

 

[Aces]

Fried chicken became too much of a fad. Market is flooded.

Will you be chicken frying at Silva bay during Labor Day weekend? Asking for a friend

 

[Rain City]

Will you be chicken frying at Silva bay during Labor Day weekend? Asking for a friend

Not a bad idea

 

[tubber]

Sell your boat to help finance the knockdown of your front house to rebuild it into an amazing duplex. Sell all 3. Repeat somewhere else. Or by new boat and a smaller home in a different municipality after the first sales.
Don't believe this year's good fishing will lead to expanded opportunities or sway you to think guiding will become a money maker for a family man living in Vancouver.
Just spit balling. Good luck - things work out for people with a good name and work ethic.

 

[Stizzla]

I feel for you buddy. Life can throw some pretty big wrenches at you… My recent hit put me in a very different situation, but we adapt. I feel much happier and healthier living in a house a step down and getting my hands dirty every weekend, rather than my big d swinging brand new house with 75’ high ceilings. The boat thing still hurts but I’m getting by until a new opportunity presents itself. I make the least amount of money that I have in 15 years which stings, but I’m hoping my talents and work ethic gets me to a better place there too.

It’s hard to make mortgage payments these days. Even with a great income suite and a wife with a great job, $2/L Gas, groceries and interest rates are taking their toll.

You have tons of equity, therefore you’re in a good position.

Whatever you choose to do, do it 100%

Wishing you all the best and when you feel like you’re running short, always remember what you do have…

 

[walleyes]

Lots of opportunity in many many ventures out this way. Cheaper cost of living, higher wages more opportunities for the young one. Just saying.

 

[kingblazer84]

I feel for you buddy! @Rain City any chance you can pivot and switch careers? Get into HVAC or something else that pays well and a little easier to adapt to.

 

[Rain City]

Sell your boat to help finance the knockdown of your front house to rebuild it into an amazing duplex. Sell all 3. Repeat somewhere else. Or by new boat and a smaller home in a different municipality after the first sales.
Don't believe this year's good fishing will lead to expanded opportunities or sway you to think guiding will become a money maker for a family man living in Vancouver.
Just spit balling. Good luck - things work out for people with a good name and work ethic.

I think I'd be better off just selling as is. With the cost of construction and my insistence on doing things better, I'll way overspend on the build and be no further ahead. Like Stizzla said, I have lots of equity in the current property, but we're in love with the neighborhood. Trout Lake is a special little spot in East Van and we live in the most secluded area of the neighborhood with no through-traffic. We're also 5 minutes from all 5 grandparents and 2 of my 3 siblings. We both grew up here, I played little league and went to Preschool where my kids will be doing the same. Not a lot of people can say that anymore.

I feel for you buddy! @Rain City any chance you can pivot and switch careers? Get into HVAC or something else that pays well and a little easier to adapt to.

I've 100% thought of HVAC. Maybe do a bit of property management to keep some easy income coming in.

I'm very lucky that I've saved enough in the business that this isn't urgent, for now. I can continue to pay my salary while I figure it out. Small labour contracts also aren't hard to find. But after running my own business for so long and seeing the financial benefit of having more responsibility, I can't see myself doing the hourly thing for very long. I really would like to get out of this gong show of an industry as well. The lack of appreciation for what I do by most, and the willingness of a client to just take money out of pocket is unheard of in so many other lines of work.

 

[kaelc]

Sorry about the client backing out. I don’t wish ill will on anyone but I wish clients knew the impact on people and families and had skin in the game more often.

Relocation an option? Cash out of Van and become a PM on the island? Wish the housing prices where cheaper but a smaller house across the street with a suite and a driveway to the back was listed is a mill and hasn’t sold, I think they took it off the market. Right in the Center of Saanich, 10 minute walk to a grocery. 12 minutes to a launch, 25 minutes to north Saanich marina the ferries and the airport.

I feel for you buddy! @Rain City any chance you can pivot and switch careers? Get into HVAC or something else that pays well and a little easier to adapt to.

HVAC is crazy in vancouver, with the city and other government subsidies, plus the extreme swings in weather. I know of one for sale, but they are being bid up by private equity. If you could find a buddy with an hvac company small crew, buy in and manage the business while he leads the people/apprentices.

 

[N2013]

I think I'd be better off just selling as is. With the cost of construction and my insistence on doing things better, I'll way overspend on the build and be no further ahead. Like Stizzla said, I have lots of equity in the current property, but we're in love with the neighborhood. Trout Lake is a special little spot in East Van and we live in the most secluded area of the neighborhood with no through-traffic. We're also 5 minutes from all 5 grandparents and 2 of my 3 siblings. We both grew up here, I played little league and went to Preschool where my kids will be doing the same. Not a lot of people can say that anymore.


I've 100% thought of HVAC. Maybe do a bit of property management to keep some easy income coming in.

I'm very lucky that I've saved enough in the business that this isn't urgent, for now. I can continue to pay my salary while I figure it out. Small labour contracts also aren't hard to find. But after running my own business for so long and seeing the financial benefit of having more responsibility, I can't see myself doing the hourly thing for very long. I really would like to get out of this gong show of an industry as well. The lack of appreciation for what I do by most, and the willingness of a client to just take money out of pocket is unheard of in so many other lines of work.

With family being so close, it helps so much physically, financially, and mentally. It’s hard to put a price on it. My in-laws are close and do so much for us. Maybe just take a couple months off or scale back your work. Have a read of this book, “Top 5 Regrets of the Dying” by Bonnie Ware. I’m sure we could all benefit from listening to these words. Best wishes.

 

[CIVANO]

For future long term permit jobs is there a way to set up a contract with a penalty for withdrawing? Or can you get paid for each step you finish? You are good at what you do. I would think that really matters and maybe you can adjust your business to bring in the sucess you need. It may may not be greener on the other side.

 

[Rain City]

For future long term permit jobs is there a way to set up a contract with a penalty for withdrawing? Or can you get paid for each step you finish? You are good at what you do. I would think that really matters and maybe you can adjust your business to bring in the sucess you need. It may may not be greener on the other side.

Legally I could have asked for a lot more of my deposit back. You can't just keep a deposit if someone decides not to move forward with a project, but you can charge for all of your time to that point. In each case I didn't charge for any of my time consulting up to that point, just out of pocket expenses. You have to be way more cutthroat than I'm willing to be, to make more money. In 4 of the 5 cases that this happened, they actually didn't go ahead with it. This last one though, he's asked other contractors for pricing. Which really pissed me off.

 

[Fishalot]

Given the government emphasis on housing and the urgent need for more builds everywhere you are in a very strong position. Might be more of deciding where you best fit. Project management might be it.

 

[Rain City]

Given the government emphasis on housing and the urgent need for more builds everywhere you are in a very strong position. Might be more of deciding where you best fit. Project management might be it.

Project Management is thrown around pretty willy nilly in residential. Usually means a site super or babysitter. I do like getting my hands dirty still. Today I'm setting reveals for the stucco guys, because if you want something done right...

 

[Coyote Spooner]

First thing I’d suggest is to move out of the LM, and move to the island. Everything connected to outdoor recreation is so much easier, with less competition. We did it last year, and couldn’t be happier. The only thing we miss, is all the great food, from all over the world. There’s lots of demand, in the construction trade, as there’s a lot of people cashing out and moving here. Specifically the Courtney/Comox and Campbell River area. We haven’t been caught in one traffic jam yet!! No more planning life around traffic and chaos.

 

[Ringo]

You’re good at what you’re doing and the sector is going to bounce back very soon.
Sounds like you can benefit from a business savvy assistant/partner who knows more about contracting strategies and the legal aspects of it. Someone who’s done work in construction contract management and knows a few things about sales and business development. As a self-employed person, you need to have some safety net for yourself and your people, no matter what the market conditions are. You like to be super close to the body of work and that’s a good thing but you also need someone who can look after the growth and continuity of your business.

Most of the times you just need to adjust your strategies and adapt with the new climate rather than taking a drastic change. Good luck with whatever your next move is!

 

[Rain City]

You’re good at what you’re doing and the sector is going to bounce back very soon.
Sounds like you can benefit from a business savvy assistant/partner who knows more about contracting strategies and the legal aspects of it. Someone who’s done work in construction contract management and knows a few things about sales and business development. As a self-employed person, you need to have some safety net for yourself and your people, no matter what the market conditions are. You like to be super close to the body of work and that’s a good thing but you also need someone who can look after the growth and continuity of your business.

Most of the times you just need to adjust your strategies and adapt with the new climate rather than taking a drastic change. Good luck with whatever your next move is!

You're right, but I don't want to grow. And you really need 3m+ and a few jobs on the go to make that worth while. I'm done with all of that. What I'm now experiencing is the down side to one project at a time. I like building houses, not businesses.