# how much money did you have?



## GregS (Oct 1, 2006)

I bought all my tools while I was fully employed. Then when that job was gone I went out on my own. Maybe try that.


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## boman47k (Oct 13, 2006)

Might want to keep in mind that you can have money in th ebank and still be broke!


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## J87513 (Jan 15, 2007)

In my line of construction the jobs cost the customer between $4k and $7k and they take two days to complete. Materials are marked up 50%. At first I will be a one man show and do the sales calls and installations myself.


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## Tiger (Nov 21, 2007)

Good luck, but in LA with your expenses, I don't think it's nearly enough.

Dave


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## JustaFramer (Jan 21, 2005)

Do you have the hours in to be a master plumber? At 20 you would still be a apprentice. That is just doing the math. If my calculations are right it take about 5-6 years to journey as a plumber.


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## J87513 (Jan 15, 2007)

I live in the LA area now, but in the state of arizona I only need one year of experience for my trade, not four like ca. Hopefully I will relocate to Phoenix if I get the consistency of 1 job a week but I will have to motel 6 it for the first few jobs.


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## JustaFramer (Jan 21, 2005)

J87513 said:


> I live in the LA area now, but in the state of arizona I only need one year of experience for my trade, not four like ca. Hopefully I will relocate to Phoenix if I get the consistency of 1 job a week but I will have to motel 6 it for the first few jobs.



My advise to you is get in a apprenticeship program through what ever progam you want union or trade school and take construction management. 

I know that is not what you want to here but I wish someone told me that at your age. I have debated take CM classes since I was 21 and probably won't till I can't actually work with my bag on.


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## J87513 (Jan 15, 2007)

yeah I took "construction management" and "uniform plumbing code" last semester. this semester i am taking "simple engineering for construction" and "construction estimating".

i have no idea how much of a factor the classes are when the contracting board looks at my experience, but it can't hurt.


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## mmike032 (May 30, 2007)

I cant tell u about the long run b/c i only been on my own for 6 months now. I started planning for it about 2 yrs in advance, kept on working full time and learning everything i could.Putting myself in my bosses shoes and thinking how i would handle the situation.keep in my mind i am a sub and not a builder.I bought tools a little at a time and saved money when i could. last year i bought a trailer and the rest of the tools i needed and started getting around talking to builders and bidding on work. Last year i was working full time and trimming houses for myself on nights and weekends building up a little clientel. The time came i made my move and have been doing good. 
I am 29 and have a wife and 2 kids so there is a lot of pressure on me, when work gets slow it worries the shat out of me.and i have done alot of reading on here about how to run a succesful business and it has enlightened me a great deal. Theres alot more to it than just getting up and going to work everyday. work hard and save money for the slow times and research


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## Dave Mac (Jan 30, 2006)

At 20 years old, start saving for retirement right now, every month.

read e- myth

and the richest man in babbalon.

good luck, you can do anything you put your mind to.


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## J87513 (Jan 15, 2007)

has anybody read the book titled "rich brother, poor brother"? i've heard so much about it. any insights?


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## Brock (Dec 16, 2007)

It is imperative that your wife pulls in a big salary. Really that's the only way to start up and grow a small business.

If you are lucky enough to have 6 months of living expenses in the bank and can at least least maintain that amount while your running the business then I would try it. Never borrow money to start a business. Worse mistake you could ever make.And, if that savings drops by more than 20% get out and go to work for somebody else until they go belly up.


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## PressurePros (Jul 3, 2006)

$50,000 and I needed every penny of it. Much of it went to supplement living expenses. Undercapitalization will bust 99.99% of fledgling start ups. If you can live on peanut butter sandwiches and show extraordinary restraint and discipline for a young guy you may be able to make it with $5K and no social life.


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## Treeandland (Dec 25, 2007)

$30k from cashing out my 401k, quit my job with a new house and 2 little kids. But I was already doing work on the weekends and had most of the eqpt. I needed although old stuff. What I really needed was a clue how to run a business! 
Read the E-myth definitely, not sure on the Rich dad stuff have heard the guy is a fraud. Take some business classes mixed in with the construction. I just lucked out and made it...so far. Oh and reading theo forums really helped out in a huge way.


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## Jason Whipple (Dec 22, 2007)

I had my last two paychecks from my last employer.

Had a great job as a PM with a company that specialized in Historic Preservation. I got to learn a lot from him while I was there and made some great connections in this type of work. The boss ended up getting a divorce, several rips around the country to see the rolling stones and a Mercedes. Soon after that he lost everything.

From that point, I decided to be in control of my own destiny. It's a tough haul but like any other job I've had, I'll see this one through as well.

Edit: I was VERY well tooled up too!


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## NDF1 (Jan 13, 2008)

*How much money did you have?*

I start my business in 1998. I had a station wagon and i was $20,000k in debt. My first and biggest job was a bathroom renovation. I was single, had tools and a patient landlord. Today my jobs total 35M.

I think you have to much start up money to rely on.

BALLS TO THE WALL FRIEND!


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## J87513 (Jan 15, 2007)

wow NDF1, you have my respect. what motivated you to start your own company? weren't you nervous with so much debt on your shoulders?


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## rbsremodeling (Nov 12, 2007)

5500 bucks

1980 ford F250

2 packs of newport cigarettes

Had just got out the hospital with a dislocated shoulder and couldn't lift anything more that 2 lbs with my right arm more that level to my shoulder
Just moved to the city of baltimore, eventualy moved down to DC. All you need to do is keep your head on and have some luck. 

PS: I was 30 had 15 years construction experience and could estimate with the best of them. But knew 3 people here and no crew.

Go for it your young

Putting on the ROCKYtheme music for you. YOOOOOOOO adrianne!!:thumbsup:


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## Tin Cup (Nov 22, 2007)

about as much money now as when i started, but i've bought alot of s**t in between !

cashflow can mask a bad businessman. seen it and heard it many times. most new contractors get their first big check and blow it, but next big check covers it up.

i've always believed what separates good and poor businessmen/women is their focus on "cost control".

my overhead and fixed costs are so much lower now, i can go a day or a week or longer without making anything and not stress about it. the stress of making this month's bills is what leads many men to lie, skim, cheat, sell their soul.

cost control brother !

glad to see you are getting out of Cal, i'd go further south towards Tuscon though. Although college town Tempe might be a good place too.

i should've been born Mexican. I love their food and i like the heat. 

i love my life, i love my wife, i wish you my kind of success.

Tin Cup. 

o.k. i stole that quote from Jerry McGuire's mentor.


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## J87513 (Jan 15, 2007)

Thank you Tin Cup. Yeah, there really isn't any reason to live in SoCal anymore in regards to financials.

I don't know why I'm worrying so much. It's not like if my own business doesn't make me money that I will be put in jail! Thank you all for your input, I greatly appreciate it.


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