Chris Thompson

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Chris Thompson

Chris Thompson

@chr1sthomp

Chattanooga-based construction and development. Washed up insurance salesman.

Chattanooga, TN Katılım Kasım 2016
608 Takip Edilen827 Takipçiler
Nathan Quinlan GC
Nathan Quinlan GC@NathanQuinlanGC·
Where are all my real contractors at? This is premium LP SmartSide board & batten siding. Two major installation mistakes that are so bad the entire house’s siding is getting ripped off and thrown in the dumpster. Experts— what are the two fatal errors you see? Newbies… this is why homeowners don’t trust contractors anymore.
Nathan Quinlan GC tweet media
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Chris Thompson
Chris Thompson@chr1sthomp·
@SeanODowd15 @shawngorham Fire suppression, specialty medical and precision equipment installers, etc. Anything meeting two criteria: (1) high barrier to entry and (2) plays into macro trends (rising comm insurance rates, healthcare AI adoption, manufacturing automation)
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Sean
Sean@SeanODowd15·
@shawngorham What trades do you think are early innings?
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Shawn Gorham
Shawn Gorham@shawngorham·
My gut feeling: I think its 9th inning for HVAC, Plumbing and Electrical PE Roll Ups Its late innings in roofing If you want into one of these trades you are better off finding a fractured PE deal or bootstrapping. Also I listend to a Jerod Pierce interview today. A $95mm exit in HVAC after 5 years is WILD - timed the peak of 2022 perfectly
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Chris Thompson
Chris Thompson@chr1sthomp·
Our tiniest new build might go down as our most fun ever. The coolest space purpose-built for a pretty incredible artist and great person:
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Chris Thompson
Chris Thompson@chr1sthomp·
@shawngorham This is wild. In TN, we’re about $200/sq for new construction and ~$300/sq for re-roof by licensed and insured co.
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Shawn Gorham
Shawn Gorham@shawngorham·
I did a 20 sq roof last week on a house I own. Let me break down the costs for you in CA: Tear Off - $70 sq for 1 layer = $1400 if 2 layers add $700 Materials - Most cities require a cool roof - all in materials run $275 per sq = $5500 IF you buy volume you might shave $500 here, not much savings Labor - direct labor is often $20 for the underlayment and $80 per sq for shingles = $100sq or $2000 Permits - hard to find a city under $500 So for a 2 layer comp tear off and shingle it costs $10,100 You can MAYBE save $500 on material and $400 on labor, MAYBE Now the big one - WORKERS COMP = 50% of the payroll or $1000 Employee Burden (if you run payroll) = 20% = $400 Liability Insurance = 5% of gross sales in roofing = $500 On the job costs = $10,100 Insurance = $1500 Employee Cost = $500 Now we are not adding in ANY softs costs, trucks, fuel, office, tools etc (well all know that's 20% easy) So let me ask you, how does a licensed roofer do a 20 sq roof for $11,000 if the costs are $12,100??? Hint: you won't find out until there is an audit, accident, lawsuit or wage claim. But don't believe me, Im just a fool on the internet
Shawn Gorham tweet media
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Perry Solem
Perry Solem@PerrySolem·
the small to mid size homebuilder space has withered over the decades for sure but i just met a guy in a small market whose family started and sold a homebuilder company THREE times over the years, most recently to lennar, and has gotten into BTR and at some point JV'd with Carlyle he attributed their survival/success to the explosive growth of his hometown, which definitely helped, but some of that must be modesty. they haven't rested on their laurels. it also surely helped that the kids are involved and work hard. some people blame the marketplace and cave to the headwinds. but some people keep figuring out how to make money.
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Moses Kagan
Moses Kagan@moseskagan·
Have been mulling the following recently: 1. When I was in college, there were retired people auditing ~all of my lecture classes 2. Turned out this was a program offered by the college to retired people who lived near campus 3. I decided that was how I wanted to spend my retirement Now I see: 1. A wave of Boomer retirements happening 2. Many of these people hungry for friends / community, and 2. Many colleges in tough financial circumstances And I think there is an opportunity to build or renovate apartment buildings walking distance from colleges offering this kind of program, and rent them to retirees.
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Shawn Gorham
Shawn Gorham@shawngorham·
Ive had a Ford Truck all my life. Ive owned all of them at one point. But my last two didnt have great luck Thinking of trying a RAM - but I hate change Prefer no turbos (too many issues) Wish I would have bought a Titan last year :( What would you buy?
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Moses Kagan
Moses Kagan@moseskagan·
@chr1sthomp Good question I don't but I could probably think of one... would start w checking liens & lawsuits and where the $$ is coming from for the project in question
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Moses Kagan
Moses Kagan@moseskagan·
Before hiring a general contractor, check: - Whether his license is active - Whether he is insured - Several references (ideally, ones he didn't give you; go find his prior jobs via online permit records) Bonus: - Criminal background (guess how we learned this one)
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Chris Thompson
Chris Thompson@chr1sthomp·
@mwmoedinger I'd wager that the wife is more frequently the decision-maker on residential jobs (about 2/3 of our custom clients fall into this bucket). And if the husband takes lead, the wife is very involved (often not the same when wife is leading).
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Marilyn Moedinger
Marilyn Moedinger@mwmoedinger·
It's amazing to me when contractors, subs, tradespeople, etc still don't understand that ignoring or speaking down to women is *not* a great way to win business. If it's a husband and wife, after the guy leaves, the wife looks at the husband and says "no way." And that's that.
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Chris Thompson
Chris Thompson@chr1sthomp·
@Bethazor1 $10 says the REM is on a plane within the week when you send another space
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Beth Azor, “Canvassing Queen”
What could I have done differently ??? Kirkland’s gives me notice they are moving out. 7900sf. I start prospecting. I find - what I think, is the perfect candidate to backfill the space. It’s a mattress store with multiple locations, and headquartered in Fla. I send my package. It includes the site plan, a map with their existing locations, and the locations of their competitors. Also a @Placer_ai mobile data report showing the traffic at my ctr compared with their other local stores. My data was much higher. I showed DOT traffic counts-65,000 cars daily. AND I include a video of me standing in front of the store showing it’s proximity from the storefront to the street. Because I know how important visibility to the street is to them. The real estate mgr has his broker call me to say thank you for the package, but they are not interested. A month later I read that they are looking in SE Fla for addl locations, so I follow up with the broker. He says no thank you. His client doesn’t like the site. I then follow up with the re mgr again. He says he sent it to his broker. I rinse and repeat this a couple more times over the next 6 months. All the while I am also negotiating with other prospects - namely a dental concept. But, to do the dental concept, I have to pay a lot of money to split the space. With the mattress, they will take all of the space ! A few weeks before I am getting ready to execute the dental deal, I make a last ditch effort with the mattress, calling the broker and REM, resending the video and package. This time I get a VM from the REM confirming they are looking in my market, but the space doesn’t have enough visibility and exposure to the street. I think that is absolutely crazy, but that’s their opinion and I go ahead and sign the dental deal. ONE WEEK AFTER I sign the dental deal, I get a call. “Hi, this is (name) I am the REM for (mattress chain) and I am in your parking lot and love this space! Pls call.” 🤦‍♀️🤦‍♀️🤦‍♀️. I call him, and remind him of the multiple times we’ve spoken, he has ZERO recollection, and actually blames his broker. I tell him it’s too late and I would have loved to do his deal Instead of the expensive deal I’m now committed to, but c’est la vie! And Yes, I’m embarrassed to say I DID send him the “saved” vm, he sent to me about the site not having good visibility/ I know - petty!! 🤷‍♀️🤷‍♀️🤷‍♀️. Right after this happened, I posted the story on LI, and asked my peers what could I have done differently? The best answer, and I would have done it had I thought about it - was to offer to fly him on a private jet to come see the space - it would have been worth it! What say you? #retwit what would you have done? It stings less now, as the dental tenant is open after 1 year of construction,and paying great rent!
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Chris Thompson
Chris Thompson@chr1sthomp·
@ShooterCoal Customs! tbh never had a homeowner swing through some studs like that though
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COAL SH00TER
COAL SH00TER@ShooterCoal·
Got a new building inspector
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Austen Allred
Austen Allred@Austen·
When a bunch of former SpaceX engineers in Austin connect robotics and software to construction equipment you get Terrafirma
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Chris Thompson
Chris Thompson@chr1sthomp·
@Austen @PerrySolem I can get behind this. I'll gladly offer Terrafirma any of our build sites for testing. And will pay market rate for it!
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Austen Allred
Austen Allred@Austen·
@PerrySolem Correct, an operator sets up an automations and monitors them as they run, can control with an Xbox controller if needed
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