Learning more about construction
Goal is to ultimate do some deals on my own. I’ve spend some time in capital markets, acquisitions, asset management and (briefly) development. I’m looking for recommendations on how to improve my knowledge of construction. I’m learning very quickly in my new role it’s a lot more detailed than I realize. Any suggestions?
As someone who does his own deals on the smaller scale 2-4 units. This is really tough. I mainly handle everything that requires sitting behind a computer for my family's business (entitlement, architects, lawyers, financing, acquisitions, permits etc...), but when I don't have much to do, I'll go out with my dad (he's a GC) and try to "learn" and I'm fucking lost. Me and him are just cut from a different fabric. He loves being out on the site and getting hands on and hates dealing with other people/pulling permits. I'm the opposite. The level of attention to detail he has is ridiculous (I mean not really fair to compare because he has over 30years of experience), but for example yesterday at one of our condo conversion projects, he noticed that a window was about 46"-47" off the ground instead of 44", which is a fatal error by our window installer because by code in order to have a legal bedroom there must be at least 1 window that is no more than 44" off the ground. Sometimes there are minor jobs that he as the GC has to do because there isn't a specific subcontractor who will do it such as patching walls, reconnecting pipes, installing light fixtures and although these sounds simple..they aren't as simple as they appear. Not only is there a proper way of doing these things, but also proper tools and materials. If I walk into a Home Depot, I don't know what 99% of tools/materials are used for..my dad does, so when he walks around a job site and notices something done wrong he instantly knows the proper way to fix it and if he doesn't he has enough experience to figure it out. If you want to learn about construction there are 2 parts. The first is the actual construction how a property is developed from foundation to framing to finishing etc... but more importantly knowing what common mistakes to look out for. For example if you forget do a soil test or think its unnecessary and decide to pour the foundation, but realize too late that you have bad soil and your foundation begins to settle, you're going to have an uneven property. There are thousands of "minor" mistakes like this that can happen throughout construction and really cost you a fortune and they happen all the time despite having expert subcontractors. The second part is actually knowing code. Now if you are just doing a light renovation, then this may be less important, but if you really want to do a gut reno or ground up development then knowing building codes is very important because an inspector will inspect your property before giving you a CO. You can learn more about construction by watching youtube videos or reading books, but the only way to really know it is by doing. Always start small. Maybe you're a first time home buyer and you want to renovate the kitchen or bathroom. Even doing something like a small kitchen renovation has a lot of minute details involved and you can learn a lot about construction by doing many of the tasks yourself. Next time your sink is clogged, don't call the plumber. Try to fix it yourself. For my dad's very first project, all he did was construct a 2nd bathroom in a condo. If you're trying to do like 50 unit condos, then hire a GC because there is no way you're going to be able to do it on your own
Your answers are always great, but please break apart that wall of text lmao.
You can read all the books, stare at cost spreadsheets, but at the end of the day..nothing will get you more experience than being on a job site, walking through with Supers/contractors, and reviewing drawings with them.
Like NYYCRE mentioned, you just have to go out and do it. Can you be more specific about what you want to know in construction? There is a lot you could be asking about.
I started my career in construction and didn't know a damn thing, but having to answer/relay RFIs forces you to spend time with the drawings and understand how the building is put together. Definitely rely on subcontractors and walk the site all the time (most helpfully with a set of plans in your hands so you can connect the real world to the drawings). Basic floorplans are easy enough to understand, but spend time with the RCP to get an idea of ceiling heights, light and vent locations, ceiling types, etc. Spend time with the MEPs and try to trace lines through the building, locate a roof drain and figure out where it goes.
As far as actual knowledge of how to pour concrete, hang drywall, rig an elevator, etc. I don't really have a good answer, you can volunteer for Habitat for Humanity or other homebuilding charities to get some hands-on experience but it's (mostly) not the same as commercial construction.
Tempore voluptatum perferendis eum ex. Voluptatem necessitatibus placeat quas ullam quia qui tempora. Adipisci dolor eum quaerat consequuntur qui voluptates molestias autem. In similique debitis minima. Sed tenetur omnis ab tempora. Harum dolorem doloribus earum.
Ducimus vel qui quibusdam et in eius consequatur. Aut qui laboriosam occaecati sunt architecto eveniet rerum. Labore dolore facilis quia voluptatem possimus velit omnis tempora. Quas et accusamus qui rerum magni eaque eos. Ratione expedita id iure eos a consectetur reprehenderit et.
Odit nam iste labore optio quo beatae provident. Porro et quia earum non iste esse.
Veniam hic iusto veritatis enim facere. Distinctio voluptatum tenetur qui cumque vitae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...