| I highly recommend when you start out in this | | | | is that you're thrown into a situation where you're |
| industry that you don't quit your current job. That | | | | forced to live off your construction draws from |
| contradicts some of my philosophies and beliefs, | | | | the bank. And as long as everything's rolling along |
| but in this industry I want you to keep your job, | | | | real good, you can possibly do that. But the first |
| what you're currently doing, and build part-time. | | | | time it rains for two weeks, you get this queasy |
| That way when you sell a home you can take | | | | feeling in your stomach. The carpenter doesn't |
| your profit. Sock it away. Build another one. Sell it. | | | | show up for two or three weeks. Oh NO! Then |
| Take your profit. Sock it away. And then you're | | | | you start borrowing from Peter to pay Paul. |
| going to get to a point where you have enough | | | | That's when home building is no longer any fun. |
| money in the bank to feel comfortable quitting | | | | Keep your job, so your bread money is taken |
| your job and going into this industry. | | | | care of, and that way building can be a lot of fun. |
| Students always ask me, "How much money | | | | In order to build successfully part-time, you could |
| does it take before you can quit your job and go | | | | hire a full-time superintendent but that's pretty |
| into this industry full-time?" This is different for | | | | expensive. I'm going to repeat what I teach in my |
| different people. The acid test is if you have | | | | How To Build A Home course. Place an ad in the |
| enough money in the bank to quit your job and | | | | paper for an individual like an old carpenter or a |
| sleep well at night, then you can quit your job. | | | | builder or job superintendent who is either retired |
| When I started construction in 1975 I was | | | | or semiretired. Specify in the ad that you don't |
| absolutely broke. I didn't even have coffee money | | | | want them to do any physical work. They will be |
| and I slept like a baby. Now it's probably like one | | | | your eyes and your ears on the job. You're going |
| gentleman said, "that's 'cause I didn't have | | | | to find so many people that will work for you for |
| anything to lose." That may be true. I notice now | | | | minimum wage just to get off that front porch |
| that I'm older and have accumulated more assets, | | | | and have something to do or to supplement their |
| I'm not as risky as I once was. You constantly | | | | income. And to have somebody like this on the |
| have to push yourself out of that comfort zone. | | | | job eight, nine hours a day, five days a week |
| Life is like a turtle; you only move forward when | | | | while you're at work is a gift. |
| you stick your neck out. I know people that have | | | | In summary, I know an airline pilot that builds |
| millions of dollars, wringing their hands and | | | | about four homes a year and he spends all of his |
| worrying themselves to an early grave in fear | | | | profit on wild, exotic vacations and toys and stuff |
| that they're going to lose that money. So it's | | | | like that. For him, building is a piece of cheesecake. |
| different for different people. | | | | He can't imagine anybody having a hard time with |
| The problem with quitting your job and going into | | | | it. It's so much fun because his bread money is |
| this industry when you're not financially prepared | | | | taken care of. |