I’m so glad I’m not the only one who lies when people ask what you do for a living at public things. So funny. I always say I mine for gold. I do not want extra work or to work for the locals lol.
Im 63 still workin as a carpenter. I can only do 3 hours a day though. Low blood preasure, heart disease, liver cirrhosis, bruised spleen, type 2 diabetes. Just minor stuff.
@@needaman66 I have diabetes type 2. I had my sugar 19. I started a carnivore diet, eating beef and fish and eggs, and now without medication, my sugar is 4 - 4,5. I hope it makes you to consider it. Before I would sleep 9 hours and wake up tired now it is a lot different.
I started the handyman business in my late fifties. As I have a background in sales, marketing and multiple trades, it was very easy. Sure I miss driving nice cars and fancy clothes but I do not miss working 50-60 hours a week, dealing with idiots and being a slave to the company. I choose my jobs and I choose my clients and I work as I please. I keep putting my prices up and it gets even better!
Great topic! I worked as an engineer out of college, went on to manage people and ran a small business of 15 people. Managing people, even if they are good employees, is stressful. After 30 years in manufacturing, I got out and went into being a handyman full time. What you are saying is spot on.... If you just show up as promised and do even a decent job, you will get repeat business. Yes, the money is alluring to have a larger company and employees, but you will burn out on people issues eventually. I constantly talk to contractors who are stressed out about finding enough work for their guys. Money isn't everything....
Same here, 25 yrs in IT and ended career in IT management the last several and left bc at end of the day you’re babysitting employees. Fell out of love with the industry and constant battle with cybercrime. Now full time handyman last 2 years and light remodeling and I love it. Sure I could make more money with a crew of guys but then the babysitting returns and stress of keeping them busy sets in. I’m glad I took the leap of faith! The manual labor is hard some days but still wouldn’t trade it to go back to a desk job!
Yup, I ran crews for 25 yrs. #1 trait I wanted from an employee was just to show up every day. Could train them to do the rest. Went thru hundreds to find a few reliable core guys.
You are successful because of your personality. I own a carpentey business and am booked for months at a time and i wonder why everybody doesnt do this. Then when i meet other trade guys im reminsed why. Most people will remain employees forever because they dont smile, make eye contact, appropriate small talk, joke with customers etc. Rarely talked about but you have to develop your personality if you want to own a business you cant just be good at your trade because nobody will trust you. You will only gain the trust of your boss and fellow tradesmen but not the average regular joe or mother who wants work done on their house
I was in sales all my adult life and became a handyman in 2020 when (cough-cough c0v1d) hit, I was 60yo. Excelling at 65yo right now. Stay fit men, be strong. Own it.
56. Carpenter and handyman. I’ve adjusted my work schedule to facilitate work and recovery. Typically 3-4 days in the field and 1-2 days on wellness, bids, invoices, tool maintenance. My clients get a well rested professional who gives them consistent quality. I operate in the commitment, attention to detail and immediate follow up mindset.
Thanks for the content! Right there with you in a way. I'm turn 50 in December. Been a Real Estate broker for the last 22 years as my bread and butter. I bought investment properties along the way. Early on I could not afford to pay everyone to fix them so I did much of the work myself and project managed them all. Can fix about anything now and building an ADU in the back yard of one of them with my 19 yo son. He wants to get in the trades then invest. Hoping to retire and live of the investments in the next few years. My son is thinking of being a handyman. Hard worker and smart.
Im 3yrs into running my property maintenance business... please work for yourself guys when I was an employee I changed 4 toilets in 1 hours for $15hr.. ive since done few of them for $750+ each... put all your chips on your table boys.. you have no Idea what your capable of and how scared ur boss would be when you can wave your own service agreement around in his face.. get your LLC your license, insurance,contract then pack your shyt and get some invoices out!! Aint no one comin to save you🥴
First Rule Of Investor Ownership DELETE the below from your rentals! -Dishwashers -Ceiling Fans -Fancy Lights -Screen Doors -Door Walls -Undersink Disposals -Fancy Refrigerators -Fancy Stoves -Fancy Microwaves -Tall Trees over The Home -Including Washer Dryer (Tenant provide their Own) The ONLY one that generates more rent is the dishwasher…. This one you can decide to keep but ONLY if the market demands it.
Great video! With your videos and your experience I started our own plumbing company about 2 years ago. It's been quite the challenge, but very rewarding trying to figure things out. I worked with my dad for 10 years before starting, we're doing it all on our own now. All organic growth, getting tons of work and customers looking for us. We're looking for 1 person but expanding very slowly wanting to keep our high quality/high expertise (and high prices). Love these business focused videos.
You are an icon of the man you would’ve been if you had flown a desk your whole life. I love a physical job. Idgaf if I only live to 60. It’s the life you live. 🤙🏻💪🏻
My gosh you're 1000% right!!! Lol i'm 60 years of last week and all you have to do in today's market. Show up and return calls and you got all the work you need. No questions asked. Just return calls and show up. If you can't make it just give them a quick phone call. It's got awful silly how busy it is. Yes can't get no one to work nephews nieces cousins. it doesn't matter they don't wanna work no matter what the hourly rate is. GodSpeed!!!!
I own a carpentry business and sometimes wonder why I'm so busy when I don't think I do a thing special but then I'm constantly reminded when I'm around other trades and employees and you realize that most guys in the trades are terrible at representing themselves. They don't smile. They don't do small talk. They dress like a homeless person and often smell like hangover. It's then that i realize how important being able to sell yourself is. Most guys in the trades seriously lack in the communication and personality department despite how good they might be at their job. If you can smile and joke around with customers and be super honest and clear then you will put yourself ahead of 99% of guys
@ You're absolutely right!!! First impression is everything. Almost guaranteed everything. I actually wash my truck before I go on estimates. And besides that I'm dirty all the time so if I get a chance to clean up and put my nice clothes on I love doing it lol. Have a great rest of the week.
It has been a long time since you've put up a Handyman Business video. I guess that's a good thing because the actual Handyman Business must be good! All the best to you and your family.
Closing on doors 15/16 next week while fully employed. I self manage all of them but I'm definitely at a point that I'm starting to think of what's next. Eventually I'll need to have a full time employee and/or scale back/quit my job. Thanks to Handyman and UA-cam I've saved a ton learning the basics of how a house is put together the last 4-5 years 👍🏻
I financed and raised a family as a handyman. I did run a crew for two years when I scored a client with lots of potential. I also found working for property management companies was fruitless, demanding and cheap. I am still doing miscellaneous handyman jobs for family, ie landscape a yard, drain tile replacement, renew a septic tank and field, and an interior repaint job, at the AGE of 69! I retired 10 years ago, meaning I stopped taking client work. The MOST important factors to being successful, show up, do a professional job AND complete in the promised timeline. Success is also dependant on FULL skill in money management.
Practical advice and thoughts, thank you for sharing! As a Mid-Centurian hammer slinger; I've found it wise, to be more conscientious of what goes into our mouth-holes and sleep, for able bodied health and recovery.
Grass is always greener. Manual labor keeps you healthy and fit. But you are right about the broken body and PAIN. When most people stop doing the manual labor, and start pushing a pencil, they get fat and their organs generally go bad before the manual labor guy. So take your pick broken back or heart attack.
Ive started my handyman business 4 months ago. Made one post on social media got me my first jobs then its been word of mouth keeping me busy. I dont really see myself doing other type of work. So the way I see it, ill be less broken when im older being self employed because I work at my pace, do things my way and chose the jobs I do. Compared to working for someone else who rushes me and I dont chose the jobs. No one wants to go dig out a basement by hand with 5 gallon buckets all day for 25$ an hour
A few things to consider that my property manager does are, vet potential tenants very well, stage and show the rental to get maximum market value, and most importantly they stay up on the laws in my state. For example, now smoke detectors need to be in every bedroom when before they only needed to be in certain areas. One bad tenant and you could get unlucky and lose a ton of money.
You inspire me to do greater things sir! Been in renovation business for over 10 years now. Getting tired of finding clients that are willing to pay. You help me explore new ideas!
I invested in condos in the early 2010’s to around 2019. Mostly distressed sales. I built up a nice nest egg on them. I rent them out and have them paid off. My only regret is not buying more of them. I don’t have to worry about cutting grass, the roof, the septic, shoveling or plowing snow, boilers, etc…You may need to pay a fine here or there but it’s well worth it. Now that the market rebounded it’s impossible to get in at a decent price, so I think the condo ship has sailed.
Prob the best time in the past 100 years to invest in real estate. I remember looking at properties back in 2009-2012 I could have bought for $30k, that are now $300k properties. I did not want to take the risk at the time to jump in like you did. Oh well.
I do exactly what you do. At 35, I feel the same way you do! Property management companies don’t want their contractors doing property mgmt… but we do know the play book and it would be wise to stay in the field. Perhaps finding off market properties to scale up the BRRRR method
Great video! I feel very fortunate to own and operate my own landscaping business here in the NW. I prefer T&M and I charge around $70.00 per hour once you factor in the debris hauling fee. NOT too shabby for yard work. The fact that I’m licensed bonded and insured gives me the confidence to charge that rate. I truly think you nailed it handyman, being reliable, good communication, and getting the job done is the most important things These days when people inquire about business, I usually start off by letting them know that I’m no longer taking on any new customers 😎👍 The next step is to grow, but I have absolutely no desire to have employees and pay them any less than what I’m making and somehow try to manage People and do more work than I’m already doing. That being said, I have that much more respect for anyone who has taken those steps to grow and I wish them the best of luck. Also, if there are any other landscapers or People in a similar field, running their own business, what part of the nation are you working in and what are you charging per hour?
I'm 62 and have been doing the handyman business for 10 years. My customers are a mix of property managers and home owners, with the occasional commercial client or non profits. I would not want to be a property manager and I will not use a third party service to run my business. I enjoy working on small projects a lot more than I would enjoy managing anything. My clients find me on Google, my website and word of mouth. I just show up for the job and do my best. It works. I also have the freedom to take time off when I need it. what could be better?
My wife and I bought our first primary residence (duplex) when I was 32. I'm 36 now. It is probably the best financial decision I've ever made. We still would not describe ourselves as handy even after all the projects we tackled. We like to say we can do any project so long as it's a property we're living in and don't have a deadline. That duplex produces nice cash flow even after the mortgage + repairs, maintenance and minimal vacancy. We talk about starting a property management company, but I really hate doing projects while the tenant is home because I have no idea how long it will take me. Luckily besides fixing a screen or replacing a vanity top we haven't dealt with anything too difficult. Also everybody should be thinking ROTH IRA if investing for their future.
HM, I finally retired from my Home Renovation and Repair Business. My body has been beaten to a pulp with this business and at 69 it's time to call it quits. It was fun and profitable, but there always comes a time to hang up the hat. I hope you make the decision that works best for you.
Thankyou for this tip!! It is a humbling topic for you to discuss I would imagine but could really help guys that are in the early stages of your career path like me! Glad that you have the investments 🔥
As I've said to my kids over the years: "If you just SHOW UP, you'll be ahead of 90% of other people." I've become pretty good at minor home repairs (e.g. replacing a toilet, fixing a leaky faucet, minor electrical, patching drywall, etc.) mostly b/c it's been challenging to find someone who will return calls, show up, and then do a good enough job that I don't have to go back and redo it later. Seems like it's getting harder all the time to find good tradesmen/women. Had a tree fall onto my house & deck last spring. One of the 6x6 posts on the second story deck snapped and needed replacement. Job required some temporary deck supports, disassembling part of the deck, removing damaged post, and placing new post. I contacted over a dozen contractors that advertised as "deck construction/repair" before I finally found a guy that was interested (he did a great job).
Handy, I hear you. I am approaching 57 years old and climbing 6' to 12' ladders all day is no longer easy. Laying flooring for a day, even with knee pads, no longer fun. The aches and pain or cramps afterwards is a heck of a price to pay. It is young person's game. Rich
Ever since meeting an older contractor who was having both hips replaced, it really scared me into taking ppe and especially good kneepads seriously. Hoping to not end up walking like an invalid after 20 years.
I’ve recently just bought a Vermeer mini skid steer. I can charge 250 per day for it and 300 for drop off and pick up. I paid 13000 for it and I’ve got at least 5000 worth of work for it before the end of the year. I’m a one man show doing home remodeling but I’ve been more focused on decks,fences, patios and outdoor spaces. I’ve spent 8000 on mini skid steer rental this year already. This machine will bring in money and save my energy. I’ve been a superintendent on large commercial projects and I really don’t want to deal with employees, I think it burnt me out having to babysit grown men all those years. I’m getting a Hiab crane for my truck too. We’re I live isn’t flat and all the houses are tricky access so between the crane and skidsteer and a small 4x4 dump truck I’ll be in demand . 21 years on the tools and my body feels good. Great video and topic
Food for thought… Consider your investment to be in real estate. Initially fund your investment portfolio by flipping a couple houses but then become a buy and hold investor. You have to buy them right and by that I mean if they’re on Zillow, it’s too late. Research foreclosures in your area, as well as word of mouth for off-market properties. I have done both of these strategies to a great benefit. Fix the houses up right; 1) so there’s no nagging issues, and 2) so you can get better tenants AND ask for a higher rent. Passive income is the name of the game!!!
dont write yourself off because you are 50, you still have a good 20 years left to work. Really, dont fixate on retirement age, i know so many people who keep working as a sense of purpose or routine despite them and their children being set for life. You can easily transition your business towards something you are managing part time when you retire and after that its basically a hobby, take jobs you like or work for people who you have a good relation with.
From what he has said in the past there is chronic pain and injuries that are only being aggravated by continued work. I wouldn't advise anyone to continue this kind of manual labor full-time past 50 if they have an alternative, which he does. I'd test the waters with property management and wind down all of the routine-but-tedious work handing it off to competent sub-contractors (no employees for now) and doing the the more complicated stuff yourself until you can eventually hand that off too.
60+ and been in trades my whole life.Probably be a handy man when im semi retired.I was a GC for years.Im debt free,I also stay in shape with pull-ups and weight,hiking in the mountains main pastime.
Something I’ve encountered a lot in the past few years are people who don’t want to work for companies anymore. They all watch UA-cam channels that tell them to work for themselves and charge a lot of money. And it’s true; they can and do. I’ve met many people who knew nothing about this type of work, and started from scratch just by watching UA-cam. I can usually tell pretty quickly who the people are that don’t have much experience. The way they move; their finesse. I’ll hear them paraphrase something from a guy I myself watch on UA-cam. I’m tempted to say “hey i watch that channel too”. It’s finally a rewarding time to be in this business. But, it ebbs and flows throughout the years. Many of these self employed handymen may come to a point where they realize that there’s also value in just being a worker, and not an owner. I don’t know what the point of this is. Maybe I’m just jealous that it wasn’t as easy for me when I started out.
STR manager here, went from 60 to 10 units and went head first into home improvements. Had the 60 employees, office and all the overhead, now have a handful of help and only take on property units and improvement work through word of mouth.
I have a friend who built up a window and solar cleaning business up by Seattle and sold it at 35 years old. Made a big chunk of change. Now a couple years later, the company that bought his business hired him back with a good salary to run an area for them. He just moved from WA to Indiana for it. PS- I bite my tongue when I tell people I do Handy work. You're right. It's like a good friend of mine a lawyer, she says the same thing. She never tells anyone she's a lawyer or they want legal advice blah blah blah 🤣 I just say I'm full on clients. Only family and close friends get hierarchy
Yes, I am 58, and have stopped a lot of the labor part. I just can't do it anymore. I just do the sales part now, and that's enough. I do miss fixing things tho.
I actually do contracting work for a property management company. Yeah, what they pay is sometimes disappointing and they calling at inconsistent times but it helped get me grow when times are slow. It’s true, if you don’t have a tool in your hand you not making money.
You won't find good employees at a small construction company unless you offer equity or something. Big general contractors can offer really good wages and lots of work and great benefits and safety regulations
Great Video short and to the point. At 50 We still to this day are trying to crack the skilled labor code. Building affordable homes now. Speaking to some of your points, We don’t watch much tv as it is mostly advertising trash with tv show trash. So UA-cam it is… The housing market is at a point where there are more older homes in disrepair. There are not enough new homes being built fast enough. Both for the influx of population (whether good or bad) and existing growth, destruction & relocation. The skilled trades have a shortage of qualified labor to fill all the gaps. It’s really bad in the South. I imagine the migration is being allowed so that more workers will be here to pick up the slack. These specific people are getting smarter, pooling resources, expenses and will inevitably make huge gains. The answer to the $64000.00 question is now TIME. What is your time worth? What would you enjoy doing that pays the most and allows a person more time to do what they want to do. In construction or maintenance today you can almost name your price. It’s going to get worse. At some point we will need to get “more” trade schools back open over colleges. If not, be prepared to spend most of the income you make on housing. Prices will keep going up as the value of the dollar declines, wages won’t keep up. Saving may not be the answer. Paying debt off or finding passive income is about the only way to survive.
I might just get into property management after watching this video. I’ve been thinking about the next steps after a year of doing handyman work for property managers. I was thinking about hiring employees but I’m terrified to send some bum out to a house and not being there to watch the work be done. Thank you!
Same boat here. Handyman business of almost two years and I feel like property management might be easier and more bang for buck. Gotta be more reactive though I suppose. Everything needs addressed now.
I have so much work coming in and I always want to try and accomplish all of them. Trying to balance big jobs like custom cabinets, and working smaller job w a daily rate
Just got done, doing handstand pushups at 60. People sitting in their car/house thingy watch. The children of the ones, we built millions of government housing for.
I'm 27 and single. I graduated college 2 years ago and started my handyman business without even looking at jobs that my degree could get me. I'm slowly building my business. Currently making enough to pay my bills, rent, save/invest. I'm hoping in the next few years to get a mortgage for a small house. I want to start by renting a basement or duplex and hopefully grow to owning many rental units. Any tips from anyone how to do this? lol with housing being so expensive in my area (Utah), I honestly cant actually see myself owning anything in the near future (5-7 years).
Selling a company to private equity is not the goal, creating a company that can sustain your family and that your kids want to scale is the goal. Private equity needs to be destroyed. Or heck sell it to the employees. But why build a market in the area you live and sell it to a private equity company, will you children have anything when you're gone? Or will there only be mega corporations that own all housing labor and own 65% of all houses. What will they have? Either build them a business or or give them a world that they can be a slave in.
@scottverge938 so just sell off all home maintenance labor to private equity, think that through to the end, a Walmart of home repair being the only option you have to to have you home worked on or for for people to work for.
Not exactly that people don’t want to go work… working in construction is tough. A lot of these guys that cry about working construction and quit after two days are waiters and Uber drivers ect
Can you send me a link on any video you made that helped you go from an employee to becoming self employed. I’m a very experienced carpenter and have been thinking for awhile to go on my own doing mill work installs but just haven’t made that jump or gotten any guidance. Cheers.
Why don't you think in other directions to make money-getting a general construction license, buying a lot, building a fourplex, and then selling it? Why manage properties with so much hustle 24/7? I am sorry I am not qualified and know almost nothing about American real estate but this way I guess it is more fun and money? I would be very interested to hear your opinion on this.
Two questions. 1. How do I handle it when I gave the agent a rough estimate of $2500 but the bill came in at $4000? The agent knows the estimate was rough but I was way off. 2. How do I get better at estimating ten different things to repair at a property?
The way I do it. I draw a plan with pencil and paper. Do my quantity takeoffs for materials. Come up with a time for how long I think it should take then add at least 30 percent more time. Come up with a materials number and your time number. Its always going to take some more time and some more material. I add money in for both those. What kinds of projects are you working on?
Start saving as soon as you can. The most important money you save is the dollar you save today. It has the most time to compound. The sooner you start saving the less you have to save. It's very simple.
I was an electrician for 30 years in a family business and left the industry 20 years ago. Dont forget how cut throat the whole construction business is. No insurance, no benefits, keep wages as low as possible, little if any vacation, its all work work work. No thank you!
🇺🇲👌 Heck Yeah Handy Dandy 👌🇺🇲 I didn't realize you we're 50. So am I... I thought you were a millennial 😂 next time you post such a serious video will you Puleeze wear your wig and stash? I think most of your regulars would greatly appreciate it. 🤣
Your numbers are off a lot one of the propert management companies I do work for is for sale right now for 4.5mil and they manage 2k properties in Sacramento
Do you know the formula to find the value of a company? google it and come back. that property management company must be managing cardboard boxes and not homes and condos. A company value is usually 10x annual profit.
Hey man, I’m behind you in age but ahead of you in the PM process. I also live just down the road from you. To do the PM thing you’ve got to get a real estate license in our state. Just a heads up. Even though I’m only 38 I started having the same conversations with myself about getting older and should I have built my handyman business out past myself.
I know more unlicensed Property Managers then licensed property managers. Once you get to 30 to 40 properties and need to go public I agree on getting the licenses. Until then the gov and you know what. They would like me to get a license to rent out my own single family houses now.
@ yeah well, your city loves to over regulate(like most big cities.) they would want you to get a license for that. Our state has become so landlord unfriendly that I decided to pivot from PM and just go into real estate sales instead.
I keep thinking of the movie Back to School with Rodney Dangerfield in his business class. 😂 I'm an x-ray tech who, for 22 years pushed patients and xray machines around. Painful and pitiful. 😰 Hope you get to retire with a good chunk of money!
I’m so glad I’m not the only one who lies when people ask what you do for a living at public things. So funny. I always say I mine for gold. I do not want extra work or to work for the locals lol.
I might need to use the mining for gold thing. 👍😁
@ it works every time. Gets there mind in the right direction.
Im 63 still workin as a carpenter. I can only do 3 hours a day though. Low blood preasure, heart disease, liver cirrhosis, bruised spleen, type 2 diabetes. Just minor stuff.
@@needaman66 I have diabetes type 2. I had my sugar 19. I started a carnivore diet, eating beef and fish and eggs, and now without medication, my sugar is 4 - 4,5. I hope it makes you to consider it. Before I would sleep 9 hours and wake up tired now it is a lot different.
Trades are an interesting occupation for sure. Everybody i talk to either wants something done or they want to know if im hiring
I started the handyman business in my late fifties. As I have a background in sales, marketing and multiple trades, it was very easy. Sure I miss driving nice cars and fancy clothes but I do not miss working 50-60 hours a week, dealing with idiots and being a slave to the company. I choose my jobs and I choose my clients and I work as I please. I keep putting my prices up and it gets even better!
Love it bro-I’ll be 60 next Feb-the work keeps me fit and feeling alive. We are the few, the elite, the tuff ole’ guys. 💪🏼💪🏼💪🏼💪🏼💪🏼💪🏼💪🏼
Great topic! I worked as an engineer out of college, went on to manage people and ran a small business of 15 people. Managing people, even if they are good employees, is stressful. After 30 years in manufacturing, I got out and went into being a handyman full time. What you are saying is spot on.... If you just show up as promised and do even a decent job, you will get repeat business. Yes, the money is alluring to have a larger company and employees, but you will burn out on people issues eventually. I constantly talk to contractors who are stressed out about finding enough work for their guys. Money isn't everything....
Same here, 25 yrs in IT and ended career in IT management the last several and left bc at end of the day you’re babysitting employees. Fell out of love with the industry and constant battle with cybercrime. Now full time handyman last 2 years and light remodeling and I love it. Sure I could make more money with a crew of guys but then the babysitting returns and stress of keeping them busy sets in. I’m glad I took the leap of faith! The manual labor is hard some days but still wouldn’t trade it to go back to a desk job!
@@HomeImprovementMike Babysitting.... that's a great way to put it. That, and fixing their F'ups.
Yup, I ran crews for 25 yrs. #1 trait I wanted from an employee was just to show up every day. Could train them to do the rest. Went thru hundreds to find a few reliable core guys.
You are successful because of your personality. I own a carpentey business and am booked for months at a time and i wonder why everybody doesnt do this. Then when i meet other trade guys im reminsed why. Most people will remain employees forever because they dont smile, make eye contact, appropriate small talk, joke with customers etc. Rarely talked about but you have to develop your personality if you want to own a business you cant just be good at your trade because nobody will trust you. You will only gain the trust of your boss and fellow tradesmen but not the average regular joe or mother who wants work done on their house
TRUE
I was in sales all my adult life and became a handyman in 2020 when (cough-cough c0v1d) hit, I was 60yo. Excelling at 65yo right now. Stay fit men, be strong. Own it.
I was a sales rep for 15 years myself before starting a handyman business. All that customer service experience has been a huge advantage.
Amen amen He is
Get in shape and stay in shape
God bless great inspiration
56. Carpenter and handyman. I’ve adjusted my work schedule to facilitate work and recovery. Typically 3-4 days in the field and 1-2 days on wellness, bids, invoices, tool maintenance. My clients get a well rested professional who gives them consistent quality. I operate in the commitment, attention to detail and immediate follow up mindset.
Thanks for the content! Right there with you in a way. I'm turn 50 in December. Been a Real Estate broker for the last 22 years as my bread and butter. I bought investment properties along the way. Early on I could not afford to pay everyone to fix them so I did much of the work myself and project managed them all. Can fix about anything now and building an ADU in the back yard of one of them with my 19 yo son. He wants to get in the trades then invest. Hoping to retire and live of the investments in the next few years. My son is thinking of being a handyman. Hard worker and smart.
Im 3yrs into running my property maintenance business... please work for yourself guys when I was an employee I changed 4 toilets in 1 hours for $15hr.. ive since done few of them for $750+ each... put all your chips on your table boys.. you have no Idea what your capable of and how scared ur boss would be when you can wave your own service agreement around in his face.. get your LLC your license, insurance,contract then pack your shyt and get some invoices out!! Aint no one comin to save you🥴
First Rule Of Investor Ownership
DELETE the below from your rentals!
-Dishwashers
-Ceiling Fans
-Fancy Lights
-Screen Doors
-Door Walls
-Undersink Disposals
-Fancy Refrigerators
-Fancy Stoves
-Fancy Microwaves
-Tall Trees over The Home
-Including Washer Dryer (Tenant provide their Own)
The ONLY one that generates more rent is the dishwasher…. This one you can decide to keep but ONLY if the market demands it.
Great video! With your videos and your experience I started our own plumbing company about 2 years ago. It's been quite the challenge, but very rewarding trying to figure things out.
I worked with my dad for 10 years before starting, we're doing it all on our own now. All organic growth, getting tons of work and customers looking for us. We're looking for 1 person but expanding very slowly wanting to keep our high quality/high expertise (and high prices).
Love these business focused videos.
You are an icon of the man you would’ve been if you had flown a desk your whole life.
I love a physical job. Idgaf if I only live to 60. It’s the life you live. 🤙🏻💪🏻
Yep, indoor cats live longer, but what kind of life?
My gosh you're 1000% right!!! Lol i'm 60 years of last week and all you have to do in today's market. Show up and return calls and you got all the work you need. No questions asked. Just return calls and show up. If you can't make it just give them a quick phone call. It's got awful silly how busy it is. Yes can't get no one to work nephews nieces cousins. it doesn't matter they don't wanna work no matter what the hourly rate is. GodSpeed!!!!
I own a carpentry business and sometimes wonder why I'm so busy when I don't think I do a thing special but then I'm constantly reminded when I'm around other trades and employees and you realize that most guys in the trades are terrible at representing themselves. They don't smile. They don't do small talk. They dress like a homeless person and often smell like hangover.
It's then that i realize how important being able to sell yourself is. Most guys in the trades seriously lack in the communication and personality department despite how good they might be at their job.
If you can smile and joke around with customers and be super honest and clear then you will put yourself ahead of 99% of guys
@ You're absolutely right!!! First impression is everything. Almost guaranteed everything. I actually wash my truck before I go on estimates. And besides that I'm dirty all the time so if I get a chance to clean up and put my nice clothes on I love doing it lol. Have a great rest of the week.
I have a lot of success in my day job with this mindset. Just communicating properly. It's a lost art
It has been a long time since you've put up a Handyman Business video. I guess that's a good thing because the actual Handyman Business must be good! All the best to you and your family.
Closing on doors 15/16 next week while fully employed. I self manage all of them but I'm definitely at a point that I'm starting to think of what's next. Eventually I'll need to have a full time employee and/or scale back/quit my job. Thanks to Handyman and UA-cam I've saved a ton learning the basics of how a house is put together the last 4-5 years 👍🏻
I financed and raised a family as a handyman. I did run a crew for two years when I scored a client with lots of potential. I also found working for property management companies was fruitless, demanding and cheap. I am still doing miscellaneous handyman jobs for family, ie landscape a yard, drain tile replacement, renew a septic tank and field, and an interior repaint job, at the AGE of 69! I retired 10 years ago, meaning I stopped taking client work. The MOST important factors to being successful, show up, do a professional job AND complete in the promised timeline. Success is also dependant on FULL skill in money management.
Practical advice and thoughts, thank you for sharing! As a Mid-Centurian hammer slinger; I've found it wise, to be more conscientious of what goes into our mouth-holes and sleep, for able bodied health and recovery.
Grass is always greener. Manual labor keeps you healthy and fit. But you are right about the broken body and PAIN. When most people stop doing the manual labor, and start pushing a pencil, they get fat and their organs generally go bad before the manual labor guy. So take your pick broken back or heart attack.
Ive started my handyman business 4 months ago. Made one post on social media got me my first jobs then its been word of mouth keeping me busy. I dont really see myself doing other type of work. So the way I see it, ill be less broken when im older being self employed because I work at my pace, do things my way and chose the jobs I do. Compared to working for someone else who rushes me and I dont chose the jobs. No one wants to go dig out a basement by hand with 5 gallon buckets all day for 25$ an hour
A few things to consider that my property manager does are, vet potential tenants very well, stage and show the rental to get maximum market value, and most importantly they stay up on the laws in my state. For example, now smoke detectors need to be in every bedroom when before they only needed to be in certain areas. One bad tenant and you could get unlucky and lose a ton of money.
You inspire me to do greater things sir! Been in renovation business for over 10 years now. Getting tired of finding clients that are willing to pay. You help me explore new ideas!
I invested in condos in the early 2010’s to around 2019. Mostly distressed sales. I built up a nice nest egg on them. I rent them out and have them paid off. My only regret is not buying more of them. I don’t have to worry about cutting grass, the roof, the septic, shoveling or plowing snow, boilers, etc…You may need to pay a fine here or there but it’s well worth it. Now that the market rebounded it’s impossible to get in at a decent price, so I think the condo ship has sailed.
Prob the best time in the past 100 years to invest in real estate. I remember looking at properties back in 2009-2012 I could have bought for $30k, that are now $300k properties. I did not want to take the risk at the time to jump in like you did. Oh well.
@@mph5896it was a tough time. But my grandfather kept telling me, “when there’s blood in the street you buy everything you can.”
I do exactly what you do. At 35, I feel the same way you do! Property management companies don’t want their contractors doing property mgmt… but we do know the play book and it would be wise to stay in the field. Perhaps finding off market properties to scale up the BRRRR method
Great video! I feel very fortunate to own and operate my own landscaping business here in the NW. I prefer T&M and I charge around $70.00 per hour once you factor in the debris hauling fee. NOT too shabby for yard work. The fact that I’m licensed bonded and insured gives me the confidence to charge that rate.
I truly think you nailed it handyman, being reliable, good communication, and getting the job done is the most important things
These days when people inquire about business, I usually start off by letting them know that I’m no longer taking on any new customers 😎👍
The next step is to grow, but I have absolutely no desire to have employees and pay them any less than what I’m making and somehow try to manage People and do more work than I’m already doing.
That being said, I have that much more respect for anyone who has taken those steps to grow and I wish them the best of luck.
Also, if there are any other landscapers or People in a similar field, running their own business, what part of the nation are you working in and what are you charging per hour?
I'm 62 and have been doing the handyman business for 10 years. My customers are a mix of property managers and home owners, with the occasional commercial client or non profits. I would not want to be a property manager and I will not use a third party service to run my business. I enjoy working on small projects a lot more than I would enjoy managing anything. My clients find me on Google, my website and word of mouth. I just show up for the job and do my best. It works. I also have the freedom to take time off when I need it. what could be better?
My wife and I bought our first primary residence (duplex) when I was 32. I'm 36 now. It is probably the best financial decision I've ever made. We still would not describe ourselves as handy even after all the projects we tackled. We like to say we can do any project so long as it's a property we're living in and don't have a deadline. That duplex produces nice cash flow even after the mortgage + repairs, maintenance and minimal vacancy. We talk about starting a property management company, but I really hate doing projects while the tenant is home because I have no idea how long it will take me. Luckily besides fixing a screen or replacing a vanity top we haven't dealt with anything too difficult.
Also everybody should be thinking ROTH IRA if investing for their future.
Such a great learning resource. Thank You
HM, I finally retired from my Home Renovation and Repair Business. My body has been beaten to a pulp with this business and at 69 it's time to call it quits. It was fun and profitable, but there always comes a time to hang up the hat. I hope you make the decision that works best for you.
Your right good employees work for the big boys
I only manage my own properties. I just turned 49, I’m trying to dial it back, not ramp it up!
Thankyou for this tip!! It is a humbling topic for you to discuss I would imagine but could really help guys that are in the early stages of your career path like me! Glad that you have the investments 🔥
As I've said to my kids over the years: "If you just SHOW UP, you'll be ahead of 90% of other people."
I've become pretty good at minor home repairs (e.g. replacing a toilet, fixing a leaky faucet, minor electrical, patching drywall, etc.) mostly b/c it's been challenging to find someone who will return calls, show up, and then do a good enough job that I don't have to go back and redo it later.
Seems like it's getting harder all the time to find good tradesmen/women. Had a tree fall onto my house & deck last spring. One of the 6x6 posts on the second story deck snapped and needed replacement. Job required some temporary deck supports, disassembling part of the deck, removing damaged post, and placing new post. I contacted over a dozen contractors that advertised as "deck construction/repair" before I finally found a guy that was interested (he did a great job).
Handy, I hear you. I am approaching 57 years old and climbing 6' to 12' ladders all day is no longer easy. Laying flooring for a day, even with knee pads, no longer fun. The aches and pain or cramps afterwards is a heck of a price to pay. It is young person's game. Rich
time for you to get a crew. just manage them
Ever since meeting an older contractor who was having both hips replaced, it really scared me into taking ppe and especially good kneepads seriously. Hoping to not end up walking like an invalid after 20 years.
That's a real issue that people sweep under the rug when they are encouraging everyone to skip college and go into the trades.
I’ve recently just bought a Vermeer mini skid steer. I can charge 250 per day for it and 300 for drop off and pick up. I paid 13000 for it and I’ve got at least 5000 worth of work for it before the end of the year.
I’m a one man show doing home remodeling but I’ve been more focused on decks,fences, patios and outdoor spaces.
I’ve spent 8000 on mini skid steer rental this year already.
This machine will bring in money and save my energy.
I’ve been a superintendent on large commercial projects and I really don’t want to deal with employees, I think it burnt me out having to babysit grown men all those years.
I’m getting a Hiab crane for my truck too. We’re I live isn’t flat and all the houses are tricky access so between the crane and skidsteer and a small 4x4 dump truck I’ll be in demand .
21 years on the tools and my body feels good. Great video and topic
Food for thought… Consider your investment to be in real estate. Initially fund your investment portfolio by flipping a couple houses but then become a buy and hold investor. You have to buy them right and by that I mean if they’re on Zillow, it’s too late. Research foreclosures in your area, as well as word of mouth for off-market properties. I have done both of these strategies to a great benefit. Fix the houses up right; 1) so there’s no nagging issues, and 2) so you can get better tenants AND ask for a higher rent. Passive income is the name of the game!!!
Property managers will solicit lowest priced quote every time. We’ve found this to be a complete waste of time
I saw you use vacuum bags for drywall in a recent video. Look online, you can find bags at a highly reduced rate compared to the big box stores.
Love the what if scenarios…. I have to believe we are where we are by Gods grace. HandyOn
dont write yourself off because you are 50, you still have a good 20 years left to work. Really, dont fixate on retirement age, i know so many people who keep working as a sense of purpose or routine despite them and their children being set for life. You can easily transition your business towards something you are managing part time when you retire and after that its basically a hobby, take jobs you like or work for people who you have a good relation with.
From what he has said in the past there is chronic pain and injuries that are only being aggravated by continued work. I wouldn't advise anyone to continue this kind of manual labor full-time past 50 if they have an alternative, which he does. I'd test the waters with property management and wind down all of the routine-but-tedious work handing it off to competent sub-contractors (no employees for now) and doing the the more complicated stuff yourself until you can eventually hand that off too.
60+ and been in trades my whole life.Probably be a handy man when im semi retired.I was a GC for years.Im debt free,I also stay in shape with pull-ups and weight,hiking in the mountains main pastime.
Such great advice.
Something I’ve encountered a lot in the past few years are people who don’t want to work for companies anymore. They all watch UA-cam channels that tell them to work for themselves and charge a lot of money. And it’s true; they can and do. I’ve met many people who knew nothing about this type of work, and started from scratch just by watching UA-cam. I can usually tell pretty quickly who the people are that don’t have much experience. The way they move; their finesse. I’ll hear them paraphrase something from a guy I myself watch on UA-cam. I’m tempted to say “hey i watch that channel too”. It’s finally a rewarding time to be in this business. But, it ebbs and flows throughout the years. Many of these self employed handymen may come to a point where they realize that there’s also value in just being a worker, and not an owner. I don’t know what the point of this is. Maybe I’m just jealous that it wasn’t as easy for me when I started out.
STR manager here, went from 60 to 10 units and went head first into home improvements. Had the 60 employees, office and all the overhead, now have a handful of help and only take on property units and improvement work through word of mouth.
I have a friend who built up a window and solar cleaning business up by Seattle and sold it at 35 years old. Made a big chunk of change. Now a couple years later, the company that bought his business hired him back with a good salary to run an area for them. He just moved from WA to Indiana for it.
PS- I bite my tongue when I tell people I do Handy work. You're right. It's like a good friend of mine a lawyer, she says the same thing. She never tells anyone she's a lawyer or they want legal advice blah blah blah 🤣 I just say I'm full on clients. Only family and close friends get hierarchy
Yes, I am 58, and have stopped a lot of the labor part. I just can't do it anymore. I just do the sales part now, and that's enough. I do miss fixing things tho.
I've been a handyman for 40 yrs, i'm 64 and still going strong and can out do my 20 something helpers
Its not too hard to beat the 20 something these days
I actually do contracting work for a property management company. Yeah, what they pay is sometimes disappointing and they calling at inconsistent times but it helped get me grow when times are slow. It’s true, if you don’t have a tool in your hand you not making money.
You won't find good employees at a small construction company unless you offer equity or something.
Big general contractors can offer really good wages and lots of work and great benefits and safety regulations
I'm there now brother at almost 40. I'm hoping to get enough rental properties to cut down on the manual labor or shorter bursts of it.
Do you have any rentals currently? I'm thinking along the same lines. I like to ask landlords how things are going with their rentals.
Thank you for this video.
Great Video short and to the point. At 50 We still to this day are trying to crack the skilled labor code. Building affordable homes now. Speaking to some of your points, We don’t watch much tv as it is mostly advertising trash with tv show trash. So UA-cam it is…
The housing market is at a point where there are more older homes in disrepair. There are not enough new homes being built fast enough. Both for the influx of population (whether good or bad) and existing growth, destruction & relocation. The skilled trades have a shortage of qualified labor to fill all the gaps. It’s really bad in the South. I imagine the migration is being allowed so that more workers will be here to pick up the slack. These specific people are getting smarter, pooling resources, expenses and will inevitably make huge gains.
The answer to the $64000.00 question is now TIME. What is your time worth? What would you enjoy doing that pays the most and allows a person more time to do what they want to do. In construction or maintenance today you can almost name your price. It’s going to get worse. At some point we will need to get “more” trade schools back open over colleges. If not, be prepared to spend most of the income you make on housing. Prices will keep going up as the value of the dollar declines, wages won’t keep up. Saving may not be the answer. Paying debt off or finding passive income is about the only way to survive.
I might just get into property management after watching this video. I’ve been thinking about the next steps after a year of doing handyman work for property managers. I was thinking about hiring employees but I’m terrified to send some bum out to a house and not being there to watch the work be done. Thank you!
Depending on where you are, you may need a real estate license in order to do so, like in California
Same boat here. Handyman business of almost two years and I feel like property management might be easier and more bang for buck. Gotta be more reactive though I suppose. Everything needs addressed now.
ive come to kearn that showing up when and where you say will put you 10x ahead of the majority of ither local small companies/guys
I have so much work coming in and I always want to try and accomplish all of them. Trying to balance big jobs like custom cabinets, and working smaller job w a daily rate
Run a handyman business. Employ handymen. Count the cash and chill. Henry Ford found good men. Good men still exist.
Im actually want to do more now im in my 50's, build my own home etc.. had a few failed businesses along the way tho
Just got done, doing handstand pushups at 60.
People sitting in their car/house thingy watch.
The children of the ones, we built millions of government housing for.
try DMSO for the pain, it's a game changer
Running a property management company is so much more than just repairs though …
I'm 27 and single. I graduated college 2 years ago and started my handyman business without even looking at jobs that my degree could get me. I'm slowly building my business. Currently making enough to pay my bills, rent, save/invest. I'm hoping in the next few years to get a mortgage for a small house. I want to start by renting a basement or duplex and hopefully grow to owning many rental units. Any tips from anyone how to do this? lol with housing being so expensive in my area (Utah), I honestly cant actually see myself owning anything in the near future (5-7 years).
Foreclosures. Run down abandoned properties. Find old owners who want out. Buy them a coffee. Talk to them. Avoid the usual suspects.
Selling a company to private equity is not the goal, creating a company that can sustain your family and that your kids want to scale is the goal. Private equity needs to be destroyed.
Or heck sell it to the employees. But why build a market in the area you live and sell it to a private equity company, will you children have anything when you're gone? Or will there only be mega corporations that own all housing labor and own 65% of all houses. What will they have? Either build them a business or or give them a world that they can be a slave in.
Can't your children take care of themselves if you raise them well?
@scottverge938 so just sell off all home maintenance labor to private equity, think that through to the end, a Walmart of home repair being the only option you have to to have you home worked on or for for people to work for.
@@Usonian7 No one says you have to hire them.
And that has nothing to do with you wanting to set your children up for the easy life.
In Minnesota I believe you need to be a real estate broker to manage property. I think that requires at least 3 years as a real estate agent.
Speak for yourself, take care of yourself and you can do this indefinitely
In California you have to be a licensed real estate agent to do property management for other people.
Stay off the radar until you need to publicly advertise.
Construction labor pool? You mean those guys hanging out in the Home Depot parking lot in the morning?
Property management is a whole different ball game of collecting and sending out rent money.
the thumbnail lol 😄
Not exactly that people don’t want to go work… working in construction is tough. A lot of these guys that cry about working construction and quit after two days are waiters and Uber drivers ect
I know a lot if older guys in their late 50' that want to be handy men just to work part time and make decent money instead of working at home depot
Can you send me a link on any video you made that helped you go from an employee to becoming self employed. I’m a very experienced carpenter and have been thinking for awhile to go on my own doing mill work installs but just haven’t made that jump or gotten any guidance. Cheers.
I would start watching from the beginning. Of the channel.
When is the next Handyman Business livestream?????
he said that might be a thing of the past bc of fatherhood.
The electrician guy I work for I keep telling to grow and get bigger. But he doesn’t want to. I’m thinking by to just get my license and move on
Why don't you think in other directions to make money-getting a general construction license, buying a lot, building a fourplex, and then selling it? Why manage properties with so much hustle 24/7? I am sorry I am not qualified and know almost nothing about American real estate but this way I guess it is more fun and money? I would be very interested to hear your opinion on this.
Two questions.
1. How do I handle it when I gave the agent a rough estimate of $2500 but the bill came in at $4000? The agent knows the estimate was rough but I was way off.
2. How do I get better at estimating ten different things to repair at a property?
Work 10 years building and remodeling houses.
@@TheHandymanBusiness I've done it for 30 years and still suck at estimating. Your reply didn't disappoint. Nobody likes a weak tit! Me included.
The way I do it. I draw a plan with pencil and paper. Do my quantity takeoffs for materials. Come up with a time for how long I think it should take then add at least 30 percent more time. Come up with a materials number and your time number. Its always going to take some more time and some more material. I add money in for both those. What kinds of projects are you working on?
Lower your expenses and work part time
Start saving as soon as you can. The most important money you save is the dollar you save today. It has the most time to compound. The sooner you start saving the less you have to save. It's very simple.
Saving?? You mean investing? Saving US dollars is the worst thing you can do.
Dang, Handyman what’s the risk tolerance on that 2 million @10% apy?
I was an electrician for 30 years in a family business and left the industry 20 years ago. Dont forget how cut throat the whole construction business is. No insurance, no benefits, keep wages as low as possible, little if any vacation, its all work work work. No thank you!
Property management is even more cut throat than construction
🇺🇲👌 Heck Yeah Handy Dandy 👌🇺🇲 I didn't realize you we're 50. So am I... I thought you were a millennial 😂 next time you post such a serious video will you Puleeze wear your wig and stash? I think most of your regulars would greatly appreciate it. 🤣
sounds like a recipe for stress and heart disease
Your numbers are off a lot one of the propert management companies I do work for is for sale right now for 4.5mil and they manage 2k properties in Sacramento
Do you know the formula to find the value of a company? google it and come back. that property management company must be managing cardboard boxes and not homes and condos. A company value is usually 10x annual profit.
🔨🔧🪛
this is great advice. dont expand. its not worth it. let me do all the xpansion. especially in the chicago area. just stay small.
👍🏻👍🏻
yuuuup
90 percent of life is showing up. 90 percent of the people dont do this.
Do you ask for permission to shoot your videos at customers' houses?
I always said it was for my digital portfolio. Now days everyone knows who I am. And knows it will be on youtube.
Hey man,
I’m behind you in age but ahead of you in the PM process.
I also live just down the road from you.
To do the PM thing you’ve got to get a real estate license in our state. Just a heads up.
Even though I’m only 38 I started having the same conversations with myself about getting older and should I have built my handyman business out past myself.
I know more unlicensed Property Managers then licensed property managers. Once you get to 30 to 40 properties and need to go public I agree on getting the licenses. Until then the gov and you know what. They would like me to get a license to rent out my own single family houses now.
@ yeah well, your city loves to over regulate(like most big cities.) they would want you to get a license for that.
Our state has become so landlord unfriendly that I decided to pivot from PM and just go into real estate sales instead.
Buy silver and bitcoin.
#475
I keep thinking of the movie Back to School with Rodney Dangerfield in his business class. 😂
I'm an x-ray tech who, for 22 years pushed patients and xray machines around. Painful and pitiful. 😰
Hope you get to retire with a good chunk of money!