Commercial Construction vs Residential Construction

  Рет қаралды 6,018

I AM Builders+

Жыл бұрын

Ever dreamed of getting into commercial construction? In this video, I talk about the good, and the bad OF BOTH! I'm a bit biased toward commercial though... because of the massive opportunity. But watch my video and make your judgment call!
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Timestamps
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0. Intro: (0:00)
1. Important Tips Before Getting Started: (0:26)
2. Commercial: (1:37)
3. Residential: (9:17)
4. How to Explode Your Construction Sales: (10:45)
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ABOUT DANIEL QUINDEMIL
Daniel is a Construction Expert and Consultant in the areas of construction sales, estimating, and project management. He has estimated and/or managed over $3 Billion in projects. In 2015, he founded I AM Builders, a construction estimating and sales company dedicated to helping contractors grow their businesses. Since then, I AM Builders has worked with over 3,000 clients nationwide.
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Пікірлер: 10
@mauroburgio5313
@mauroburgio5313 Жыл бұрын
Good video, Daniel. In addition to all these very good points, I would add one more key difference between Commercial and Residential, and it is the impact of TIME. You see, every client wants their job to be completed on time, but for residential clients typically the consequences of a delay might mean that they don't get to use the part of the house you're working on for some time, or they need to extend a temporary rental for another month or two. On the other hand, in Commercial the stakes are much higher, and the pressure you will feel as a Commercial contractor to deliver on time will be higher as a result. A typical commercial contract may even include liquidated damages for delays, meaning you may actually be on the hook for a daily monetary penalty for each day a project is delayed beyond an established date. Liquidated Damages, or "LD"''s as they are called in the business, are not frequently enforced, but a late delivery is always an uncomfortable situation for a GG to be in. Why the difference? It's not because Commercial clients are mean, it's because typically rely on whatever you're building for them to MAKE MONEY, so every day they don't have their new store, new restaurant, or new office that you're building, they are likely losing money or opportunities as a result. Make sure you set realistic expectations with a commercial client during contract negotiations when it comes to completion dates! Never agree to an overly optimistic schedule that you don't think you can actually meet.
@iambuilders
@iambuilders Жыл бұрын
Very true! If there are liquidate damages in your contract, document everything.
@khalidbaacha
@khalidbaacha 2 ай бұрын
Agreed, I agree with your findings
@xrayded5037
@xrayded5037 7 ай бұрын
I still prefer residential. I pick and choose who I work with and get paid for my services and don’t have to borrow any money from the bank.
@benboyko6782
@benboyko6782 Жыл бұрын
Brilliant videos mate.
@iambuilders
@iambuilders Жыл бұрын
Glad you like them!
@Techpodshed
@Techpodshed Ай бұрын
Residential is jr varsity Commercial is varsity
@iambuilders
@iambuilders Ай бұрын
👍 Are you in commercial or residential?
@Techpodshed
@Techpodshed Ай бұрын
What state are you from?
@iambuilders
@iambuilders Ай бұрын
I’m from Florida