1 00:00:00,000 --> 00:00:02,700 Tyler Grace: Based on where I stand the total job cost to 2 00:00:02,700 --> 00:00:06,360 date, and what I have left and what extras we have, then I'm 3 00:00:06,360 --> 00:00:10,380 actually going to get this job done for less than the original 4 00:00:10,380 --> 00:00:18,840 budgeted cost of the project. Welcome back to another midweek 5 00:00:19,140 --> 00:00:23,540 modern craftsman. I'm looking at myself right now, and I have on 6 00:00:23,540 --> 00:00:26,300 a winter hat and my harness sweatshirt, and I feel like I'm 7 00:00:26,300 --> 00:00:29,840 fully bundled up, but maybe my office is just cold, and it's a 8 00:00:29,840 --> 00:00:35,900 little cold here in New Jersey, but today I have a really 9 00:00:35,900 --> 00:00:40,540 exciting podcast for all of you, really, really exciting. It's on 10 00:00:40,540 --> 00:00:43,000 budgeting. Let's talk about budgeting, because that's the 11 00:00:43,000 --> 00:00:46,780 most exciting topic that I can think of. No All kidding aside, 12 00:00:46,840 --> 00:00:50,020 I was sitting in my office. It's my paperwork day. It's Tuesday, 13 00:00:50,020 --> 00:00:54,640 catching up on things, and I'm getting to the final invoicing 14 00:00:54,640 --> 00:00:57,940 for my porch project that I'm ratching wrapping up. And I 15 00:00:57,940 --> 00:01:00,600 figured it'd be a good opportunity to dig into what 16 00:01:00,600 --> 00:01:04,860 that looks like for all of you. So that's what we're gonna dive 17 00:01:04,860 --> 00:01:08,460 into today, budgeting, what my budget looks like, how I balance 18 00:01:08,460 --> 00:01:12,540 things out, how I maintain that budget, how I stay on track. I 19 00:01:12,540 --> 00:01:16,980 believe I did this for this job early on, as far as what my 20 00:01:16,980 --> 00:01:22,580 budget looks like, I figured, as I'm wrapping things up, how I 21 00:01:22,580 --> 00:01:27,320 structured this. So I think we all talk about budget and Nick 22 00:01:27,320 --> 00:01:31,160 and I talk about maintaining a budget and how a budget is a 23 00:01:31,160 --> 00:01:37,700 living, breathing part of our construction process. But what 24 00:01:37,700 --> 00:01:43,420 does it look like in real life? So first off, I am TNM, so what 25 00:01:43,420 --> 00:01:45,940 I'm doing is I'm establishing a budget. I'm doing pre 26 00:01:45,940 --> 00:01:48,940 construction. That's a separate cost that's not included in the 27 00:01:49,540 --> 00:01:54,160 construction budget. So for this job, I charged $5,000 for pre 28 00:01:54,160 --> 00:01:58,360 construction, and that was to bring in the architect. It did 29 00:01:58,360 --> 00:02:01,500 not pay for the architect service. That was separate. It 30 00:02:01,560 --> 00:02:05,880 dealt with the township getting a variance, none of the costs of 31 00:02:05,880 --> 00:02:08,760 engineering. We had to get a survey. All of that separate. 32 00:02:08,760 --> 00:02:13,500 The $5,000 was my consulting fee for getting this job through 33 00:02:13,500 --> 00:02:18,120 permitting. So it included bringing getting the survey 34 00:02:18,120 --> 00:02:23,360 done, but not the cost of the survey. So being the liaison for 35 00:02:23,360 --> 00:02:26,960 that process, hiring the surveyor, getting that done, 36 00:02:26,960 --> 00:02:30,080 dealing with the township, some going to the zoning, meeting 37 00:02:30,080 --> 00:02:34,820 with my client, and then working with the architect to ensure 38 00:02:34,820 --> 00:02:37,760 that what we were designing made sense for the client, and then 39 00:02:37,760 --> 00:02:42,220 working with the client to develop scope, budget and make 40 00:02:42,220 --> 00:02:46,120 sure that everything aligned. So that was a separate cost here. 41 00:02:46,120 --> 00:02:51,700 So my preliminary budget, what I go through, basically, I took 42 00:02:51,760 --> 00:02:54,520 what this job looked like on paper, and what we had designed 43 00:02:54,520 --> 00:02:57,460 and what the existing conditions were, and I started allocating 44 00:02:57,460 --> 00:03:02,520 costs to this whole job. So everything from I included a 45 00:03:02,520 --> 00:03:06,600 permit fee in there the engineering and the design was 46 00:03:06,600 --> 00:03:12,300 part of the cost. Cleanup, temporary bathrooms, concrete 47 00:03:12,300 --> 00:03:15,180 dumpster, general waste, dumpster protection for the job 48 00:03:15,180 --> 00:03:19,200 site, work, landscaping, crush concrete for underneath the 49 00:03:19,200 --> 00:03:24,080 porch, excavation, placing the footings, materials I needed for 50 00:03:24,140 --> 00:03:28,940 the specified spread footings. We had some drainage, any 51 00:03:28,940 --> 00:03:32,060 equipment rental that I had, my machine rental, right? So I 52 00:03:32,060 --> 00:03:36,440 charge out to rent, essentially from my own business, my Kubota 53 00:03:36,440 --> 00:03:42,400 excavator, concrete demolition. We had flat work concrete. So 54 00:03:42,400 --> 00:03:46,840 that was a subcontractor removing and reinstalling a 55 00:03:46,900 --> 00:03:50,980 fence in the yard. We have rough carpentry, rough carpentry 56 00:03:50,980 --> 00:03:56,140 materials, exterior trim, all of my post wraps, all of my my 57 00:03:56,140 --> 00:04:00,100 specific quantities of PVC, right? So I listed out one by 58 00:04:00,100 --> 00:04:03,780 four, one by six, one by eight, one by 12. I have cortex in 59 00:04:03,780 --> 00:04:10,080 there, red hot adhesive for the PVC, the screen system. Interior 60 00:04:10,080 --> 00:04:13,860 work. Once I installed the new door, obviously the new door 61 00:04:14,100 --> 00:04:18,720 roofing. We had a roofing sub do the roof. He did the gutters, 62 00:04:18,720 --> 00:04:22,700 and he did siding on the existing gables and 63 00:04:24,200 --> 00:04:29,120 Unknown: dormers on the house. He did the tie in to the 64 00:04:29,120 --> 00:04:35,360 existing roof. We have storm doors we did on this job. Let's 65 00:04:35,360 --> 00:04:39,860 see labor to install them. We have all the decking material, 66 00:04:39,920 --> 00:04:44,140 all of the fasteners, the handrail that we need, the code 67 00:04:44,140 --> 00:04:48,340 required handrail, and then a budget for electrical so those 68 00:04:48,340 --> 00:04:51,520 are all the things that I budgeted for on this project, 69 00:04:51,520 --> 00:04:55,240 that I tried to capture some sort of realistic cost. So those 70 00:04:55,240 --> 00:05:00,720 are all of the costs that we had going into. Project that we 71 00:05:00,720 --> 00:05:06,360 tried to capture and tried to basically account for within 72 00:05:06,360 --> 00:05:07,260 this project. 73 00:05:07,260 --> 00:05:13,140 Tyler Grace: So what I did first is I got the design paid for. I 74 00:05:13,140 --> 00:05:16,860 got the survey paid for everything up front to get this 75 00:05:16,860 --> 00:05:20,960 job going, just to make sure that I wasn't bearing the cost 76 00:05:20,960 --> 00:05:23,600 of this project if something were to happen this for return 77 00:05:23,600 --> 00:05:26,720 client. But still, I do. I do. I don't alter my process for 78 00:05:27,140 --> 00:05:30,080 different clients. So then, when I went to start this job, I took 79 00:05:30,080 --> 00:05:34,820 a substantial deposit that if all things go according to plan 80 00:05:34,820 --> 00:05:40,540 and we remain on budget, I'll back out my final invoices out 81 00:05:40,540 --> 00:05:43,300 of that, that deposit that was taken. But the goal with the 82 00:05:43,300 --> 00:05:47,620 deposit is to cover me for my most exposed period of this job. 83 00:05:47,620 --> 00:05:53,140 So I took a $25,000 deposit to start the job and for any of my 84 00:05:53,140 --> 00:05:57,700 pay periods. The goal was to to never be in the red, so to be 85 00:05:57,760 --> 00:06:01,680 able to maintain that money once I'm two weeks into an invoice. 86 00:06:01,680 --> 00:06:05,160 If I'm if it's three weeks into an invoice, right, I'm covered 87 00:06:05,220 --> 00:06:11,640 in whole until I get paid again, and then that $25,000 is 88 00:06:11,640 --> 00:06:16,260 fulfilled again, just to make sure that I'm protected. So as 89 00:06:16,260 --> 00:06:20,600 this job progressed, what I do is every day I keep account of 90 00:06:20,600 --> 00:06:24,800 what materials I'm using, of my own supplies, what materials I'm 91 00:06:24,800 --> 00:06:28,280 buying, and what labor I have on this job, whether it's my labor, 92 00:06:28,280 --> 00:06:31,220 it's subcontracted labor, whatever that looks like. And I 93 00:06:31,220 --> 00:06:36,800 account for this, and I maintain this every single day. So I go 94 00:06:36,800 --> 00:06:43,720 through starting at the end of September, 22 and I bought a 95 00:06:43,720 --> 00:06:47,560 screen door, I bought post bases, I bought structural 96 00:06:47,560 --> 00:06:52,180 hardware, and I charge for that, and I charge a markup on that, 97 00:06:52,180 --> 00:06:54,820 and then right I paid the balance of the patio door that 98 00:06:54,820 --> 00:06:59,380 same day. So that goes on to my budget. I purchased structural 99 00:06:59,380 --> 00:07:03,240 lumber that goes on to my budget, hangers, LP, sheathing 100 00:07:03,240 --> 00:07:09,300 and tape. I had an hour of my own labor loading my truck up. I 101 00:07:09,300 --> 00:07:13,020 had two hours dropping off permits, removing the fence, 102 00:07:13,020 --> 00:07:18,360 setting the job up. I had a permit. Cost. Everything goes 103 00:07:18,360 --> 00:07:22,940 into this. So the day I started, the actual job was the 24th so I 104 00:07:22,940 --> 00:07:25,040 have anything that went into that, right? There were six 105 00:07:25,040 --> 00:07:28,700 hours with me on the excavator. I spent two hours running to the 106 00:07:28,700 --> 00:07:34,160 dump. I had a concrete dump fee, I had a fuel fee. I had to rent 107 00:07:34,160 --> 00:07:38,540 a breaker. So all of this goes into my budget, and I'm 108 00:07:38,540 --> 00:07:43,000 accounting for this. So then when I go to invoice, my first 109 00:07:43,000 --> 00:07:52,600 work invoice was 922 through 10 eight. It was for $26,986.57 and 110 00:07:52,600 --> 00:07:56,920 that was for all of the work that went in that I put in place 111 00:07:56,920 --> 00:08:03,120 from 922 till 1028 so I I have $25,000 that I accounted for. I 112 00:08:03,120 --> 00:08:07,800 exhausted all of that, and now I submit an invoice for basically 113 00:08:07,800 --> 00:08:12,660 $27,000 so now I'm back in the green, right, and I'm paid, and 114 00:08:12,660 --> 00:08:16,620 I'm not behind on this job. So I did this throughout the job. And 115 00:08:16,620 --> 00:08:21,500 the way that I maintain budget while I'm doing this is I'll go 116 00:08:21,500 --> 00:08:24,980 and I'll look at, hey, what did I account for demolition? And I 117 00:08:24,980 --> 00:08:28,880 noticed on this job that I did not anticipate there being as 118 00:08:28,880 --> 00:08:32,660 much concrete as we removed, because there was a lot of 119 00:08:32,660 --> 00:08:36,560 concrete that was buried. So that affected my excavation 120 00:08:36,560 --> 00:08:40,720 costs, that affected my time with my excavator. That also 121 00:08:40,720 --> 00:08:43,780 affected how much fill material we had to bring in, right? 122 00:08:43,780 --> 00:08:48,640 Because we brought an extra six tons of material out of there, 123 00:08:48,640 --> 00:08:52,000 as far as concrete and brick and rubble. So I need then to bring 124 00:08:52,000 --> 00:08:56,680 grade up so it affected three or four different aspects of the 125 00:08:56,680 --> 00:09:00,960 project. So maybe that might affect the budget for the job. 126 00:09:00,960 --> 00:09:04,740 Maybe it might not, but I make a note on my budget that these are 127 00:09:04,740 --> 00:09:12,840 all extras, that if the job goes over, I can capture that cost at 128 00:09:12,840 --> 00:09:15,660 the end of the job, but I don't necessarily want to invoice that 129 00:09:15,660 --> 00:09:21,800 client for that money at this point. If it's I don't want to 130 00:09:21,800 --> 00:09:24,620 say that that's a change order right now, because I may be good 131 00:09:24,620 --> 00:09:28,640 on budget. So I'm going to make a note on my invoice. I'm going 132 00:09:28,640 --> 00:09:31,760 to tell the client I think that we're good on all all aspects of 133 00:09:31,760 --> 00:09:36,380 the job, except for we ran into more concrete than anticipated. 134 00:09:36,380 --> 00:09:39,860 So we have a higher disposal fee, we have a higher excavation 135 00:09:39,860 --> 00:09:42,880 fee, we have the higher equipment rental fee for the 136 00:09:42,880 --> 00:09:46,360 time that it took, and then also we need to bring in more fill so 137 00:09:46,360 --> 00:09:49,660 I just let them know, maybe we have that accounted for in other 138 00:09:49,660 --> 00:09:52,600 areas of the budget, but right now, that's the scope that does 139 00:09:52,600 --> 00:09:57,400 not align with the original scope that we accounted for in 140 00:09:57,400 --> 00:10:01,260 our pre construction budget. So then. And the next invoice. 141 00:10:01,260 --> 00:10:05,640 Period is from 10 eight till 1024 I have dump fees in there. 142 00:10:05,640 --> 00:10:10,800 I have my labor. I have all of my material, pressure treated 143 00:10:10,800 --> 00:10:15,120 material. I have my concrete sub payment, one payment, two in 144 00:10:15,120 --> 00:10:19,620 there. I have an extra where we had to bring in eight additional 145 00:10:19,620 --> 00:10:24,800 tons of crushed concrete to bring grade up, because the way 146 00:10:24,800 --> 00:10:29,300 that it where we had to excavate and where we had to maintain 147 00:10:29,300 --> 00:10:33,740 grade for the new patio, we needed to bring up grade on one 148 00:10:33,740 --> 00:10:37,820 area of the property that we didn't realize initially. So 149 00:10:37,820 --> 00:10:41,920 that was an additional $1,800 and that's to a subcontractor, 150 00:10:41,920 --> 00:10:45,100 so I make a note of that. It's in bold and it's in red, that I 151 00:10:45,100 --> 00:10:50,260 paid an additional $1,800 on top of our budgeted subcontractor 152 00:10:50,260 --> 00:10:54,460 expense, and why that was so my client knows. So just right off 153 00:10:54,460 --> 00:10:57,760 the bat, that's an extra because it's not my labor. It may not be 154 00:10:57,760 --> 00:11:00,780 something I have accounted for in the budget, and that's just 155 00:11:00,780 --> 00:11:06,180 an extra cost on this job. We may still remain on budget for 156 00:11:06,180 --> 00:11:12,000 this project when I look at what the overall cost is, but this is 157 00:11:12,000 --> 00:11:17,100 not something that I can reduce my scope, or I can create 158 00:11:17,100 --> 00:11:20,240 efficiencies with my business to account for that. That's money 159 00:11:20,240 --> 00:11:23,240 that's going out of my pocket to a subcontractor. So right off 160 00:11:23,240 --> 00:11:26,420 the bat, I just want that to be an extra for my client to know. 161 00:11:26,660 --> 00:11:30,500 And yeah, maybe we can get back on budget. But just right from 162 00:11:30,500 --> 00:11:33,440 the outset, you have an extra $1,800 that I'm paying this 163 00:11:33,440 --> 00:11:35,900 subcontractor. Right there's nothing that I can do about 164 00:11:35,900 --> 00:11:39,020 that. We'll see what happens on the on the back end of the job. 165 00:11:39,200 --> 00:11:46,300 So invoice two, I am through rough framing. We're getting 166 00:11:46,300 --> 00:11:50,440 ready for finishes. I have deposits for all of my decking 167 00:11:50,440 --> 00:11:55,240 material, so now I can start to verify. What did I budget for 168 00:11:55,240 --> 00:11:59,200 finishes? What did I budget for concrete? What did I budget for 169 00:11:59,200 --> 00:12:02,940 my rough framing? What did I budget for? All of my rough 170 00:12:02,940 --> 00:12:06,300 grade? Are we on track? So I'm looking at my budget, I'm 171 00:12:06,300 --> 00:12:09,720 looking at my labor, I'm looking at what our materials are, and 172 00:12:09,720 --> 00:12:13,620 I'm understanding where we where we land. So on this project, I 173 00:12:13,620 --> 00:12:17,700 wound up overestimating in my budget some of the material 174 00:12:17,700 --> 00:12:20,360 costs that went into this job, some of the finishes, and it 175 00:12:20,360 --> 00:12:24,680 costs less money. So right now I know, well, maybe we can squeak 176 00:12:24,680 --> 00:12:28,700 that $1,800 subcontractor extra into the budget. Maybe we can 177 00:12:28,700 --> 00:12:32,060 squeak the extra concrete that we disposed of and 178 00:12:33,740 --> 00:12:38,000 Unknown: excavated and removed and dumped into the budget. So I 179 00:12:38,000 --> 00:12:40,360 just have a general idea of that. Again, I have a 180 00:12:40,360 --> 00:12:41,560 conversation with the client. 181 00:12:41,560 --> 00:12:47,020 Tyler Grace: Here's what's owed, $31,000 here's where we stand. 182 00:12:47,080 --> 00:12:49,720 I'm still confident on our budget, we're right in the 183 00:12:49,720 --> 00:12:53,260 ballpark of where we should be, some things or more, some things 184 00:12:53,260 --> 00:12:56,680 or less, but I'm feeling as though we're good at this point. 185 00:12:57,100 --> 00:13:00,300 You know, more than halfway through the project, as far as 186 00:13:00,300 --> 00:13:03,780 what our budget looks like, right? Are we on track at this 187 00:13:03,780 --> 00:13:07,140 point? What I did when I invoiced for invoice two, which 188 00:13:07,140 --> 00:13:10,740 was at the end of October, I looked at what I was paid to 189 00:13:10,740 --> 00:13:15,660 date, I looked at the work that was put in place, and I looked 190 00:13:15,660 --> 00:13:19,920 at what remained of my budget, and then I listed the extras 191 00:13:19,920 --> 00:13:23,420 that I thought were affecting our budget, or could potentially 192 00:13:23,480 --> 00:13:27,320 affect our budget in the long run again, allowing my client to 193 00:13:27,320 --> 00:13:31,160 understand this so we had more concrete than anticipated, we 194 00:13:31,160 --> 00:13:36,140 had more fill, we had more excavation demo and regrading. I 195 00:13:36,260 --> 00:13:38,780 there was a hose bib that was leaking on the side of the 196 00:13:38,780 --> 00:13:43,120 house, a minor but I did go and buy the parts for that. We fixed 197 00:13:43,120 --> 00:13:43,540 that 198 00:13:44,980 --> 00:13:49,000 Unknown: when we demoed part of the existing property, there's a 199 00:13:49,000 --> 00:13:54,400 really not very well built brick retaining wall that kind of 200 00:13:54,400 --> 00:13:57,400 crumbled. So that's an extra that we're going to have to fix 201 00:13:57,400 --> 00:14:01,980 come the springtime. So I made note of that. There was more 202 00:14:02,340 --> 00:14:06,060 trim work for the PVC that I anticipated. Maybe I can tweak 203 00:14:06,060 --> 00:14:08,400 that in the budget. Maybe I can't, but I know that that's 204 00:14:08,400 --> 00:14:12,360 somewhere that I feel I shorted myself on labor in our cost 205 00:14:12,360 --> 00:14:15,960 estimate, there was an additional $1,800 for the Mason 206 00:14:15,960 --> 00:14:18,900 and I also had more electrical scope than we anticipated. We 207 00:14:18,900 --> 00:14:21,200 added some floodlights. We added more receptacles than 208 00:14:21,200 --> 00:14:24,200 anticipated. So these are just all things that I'm noting. Hey, 209 00:14:24,200 --> 00:14:28,100 these were more if our budget ends up running over, I need to 210 00:14:28,100 --> 00:14:31,880 quantify these things and let the client know this is where we 211 00:14:31,880 --> 00:14:37,100 stand. These few things were more than anticipated. It may 212 00:14:37,100 --> 00:14:43,480 affect the budget. So as I'm going through my second invoice 213 00:14:43,480 --> 00:14:46,600 for this project. I'm making sure that the work that's put in 214 00:14:46,600 --> 00:14:51,220 place, regardless of where all of those numbers are, that the 215 00:14:51,220 --> 00:14:55,000 overall budget is still relatively on track. If it's 216 00:14:55,000 --> 00:14:57,340 not, I want to have a conversation with my client as 217 00:14:57,340 --> 00:15:00,600 to why it isn't, and if it is, I want to have the. Conversation 218 00:15:00,600 --> 00:15:04,500 as to why it may not on the back end, or if we've run into 219 00:15:04,500 --> 00:15:07,260 something, how some of those extras may have to be accounted 220 00:15:07,260 --> 00:15:11,220 for towards the end of the job. But right now, I'm feeling as 221 00:15:11,220 --> 00:15:13,800 though we're still on track. I haven't started finishes, and 222 00:15:13,800 --> 00:15:17,100 sometimes things can get funky with finishes and take a little 223 00:15:17,100 --> 00:15:20,360 bit more time than anticipated, but I still feel as though the 224 00:15:20,360 --> 00:15:26,420 budget is is relatively accurate in that the job is trending in 225 00:15:26,420 --> 00:15:29,840 the right direction. So at this point, I probably have two more 226 00:15:29,840 --> 00:15:33,500 invoices to go on this project, whether they're two weeks apart, 227 00:15:33,500 --> 00:15:36,320 three weeks apart. I usually invoice every two weeks. This 228 00:15:36,320 --> 00:15:39,020 one has been spread out because I had some traveling to do for 229 00:15:39,020 --> 00:15:43,840 work. I wasn't there five days a week, four days a week, so not 230 00:15:43,840 --> 00:15:47,920 as much work was getting put in place as anticipated. So I 231 00:15:47,920 --> 00:15:52,120 spread out my budgeting a little bit more, but again, I make a 232 00:15:52,120 --> 00:15:58,240 note on this as far as what has been paid to date, how much work 233 00:15:58,240 --> 00:16:03,360 has been put in place, and how much budget is left after this 234 00:16:03,360 --> 00:16:10,560 invoice. So moving into invoice three, and what I'm billing for, 235 00:16:10,560 --> 00:16:17,880 which at this point would be, actually most of November, I 236 00:16:17,880 --> 00:16:23,540 have communicated to my client everything they paid for, to 237 00:16:23,540 --> 00:16:26,720 date, how much they've paid to date, what work has been put in 238 00:16:26,720 --> 00:16:31,640 place, and what work may wind up being an extra cost, what was 239 00:16:31,640 --> 00:16:35,840 trending higher than anticipated in our budget. So if so, if we 240 00:16:35,840 --> 00:16:40,480 run into something in the last invoice or pay period, or work 241 00:16:40,480 --> 00:16:45,100 period, or the second to last pay period, or work period that, 242 00:16:45,100 --> 00:16:48,820 hey, these things had ran higher. We're going to need to 243 00:16:48,820 --> 00:16:51,700 capture this cost on the back end. But right now I'm feeling 244 00:16:51,700 --> 00:16:55,540 pretty good. I think that this customer understands how I work. 245 00:16:55,540 --> 00:16:59,800 They understand that it's TNM, they understand the quality of 246 00:16:59,800 --> 00:17:02,040 this project and what's getting done. And we've had the 247 00:17:02,040 --> 00:17:06,780 conversation that, hey, there's details that me, we may want to 248 00:17:06,960 --> 00:17:10,200 integrate into this project. Are you good if this is an 249 00:17:10,860 --> 00:17:14,580 additional cost or this is more than we anticipated? And they 250 00:17:14,580 --> 00:17:17,460 are, so we're going to keep moving forward with where we 251 00:17:17,520 --> 00:17:22,280 are. I'm on to invoice three, which will be my second to last 252 00:17:22,280 --> 00:17:25,160 invoice. I know what my last invoice will be, and that's 253 00:17:25,160 --> 00:17:27,860 going to be in spring, because I have some stuff like topsoil and 254 00:17:27,860 --> 00:17:30,680 seed, some final grading that I'm going to wait until it warms 255 00:17:30,680 --> 00:17:33,800 up where we can actually plant seed, and I just don't want soil 256 00:17:33,800 --> 00:17:40,840 in there and it washes out all winter. So we are into invoice 257 00:17:40,840 --> 00:17:45,340 three. I have all the labor spelled out what everything's 258 00:17:45,340 --> 00:17:48,520 allocated to, right? I have Tyler three hours framing. I 259 00:17:48,520 --> 00:17:51,820 have a porta potty, cost deck, fasteners, concrete anchors, 260 00:17:52,120 --> 00:17:57,520 flashing tape. I rented a break for this project. Every single 261 00:17:57,520 --> 00:18:01,320 cost is accounted for. And then I moved down towards the end of 262 00:18:01,320 --> 00:18:05,400 November, and I started running into some things that were not I 263 00:18:05,400 --> 00:18:09,240 was not able to anticipate. So we went to wrap these columns. 264 00:18:09,540 --> 00:18:14,100 We had purchased prefabricated columns from ASIC. They were 265 00:18:14,100 --> 00:18:17,580 supposed to go around our six by sixes. So I measured the inside 266 00:18:17,700 --> 00:18:21,860 of these columns. They are five and 1116 inside, they were 267 00:18:21,860 --> 00:18:24,680 supposed to be five and three quarters, which I still feel is 268 00:18:24,680 --> 00:18:27,680 tight for a six by six post, which can range from five and a 269 00:18:27,680 --> 00:18:30,140 quarter to five and three quarters. And then, if it's not 270 00:18:30,140 --> 00:18:32,960 perfectly straight, you're wrapping it with half inch ASIC 271 00:18:33,320 --> 00:18:39,320 might be tight. So we ran into some issues, and I destroyed 272 00:18:39,320 --> 00:18:44,080 three ASIC post wraps, which my client shouldn't bear that cost 273 00:18:44,080 --> 00:18:47,560 that's on me. I kept trying to wrap them, but I realized, hey, 274 00:18:47,560 --> 00:18:50,560 we're not going to be able to use these prefab post wraps. I'm 275 00:18:50,560 --> 00:18:53,560 going to need to buy additional half inch material. I'm going to 276 00:18:53,560 --> 00:18:56,320 have to miter, fold these and wrap them by hand. This is a 277 00:18:56,320 --> 00:19:00,360 completely unanticipated cost, unfortunately, the client will 278 00:19:00,360 --> 00:19:03,060 have to bear. But I still want to try and maintain budget here. 279 00:19:03,060 --> 00:19:05,580 So I start, I have the conversation. Hey, the post 280 00:19:05,580 --> 00:19:08,160 wraps that we got aren't going to work. We're going to have to 281 00:19:08,160 --> 00:19:10,740 build them by hand. I'm going to have to get more material here. 282 00:19:10,740 --> 00:19:13,320 We're going to have the labor of fabricating them and installing 283 00:19:13,320 --> 00:19:17,100 them. It'll be an additional cost. So I in my budget, I have 284 00:19:17,160 --> 00:19:21,800 bold and red materials extra, the half inch PVC, the 285 00:19:21,800 --> 00:19:26,780 additional glue, the fasteners I need. I have the labor in there, 286 00:19:27,860 --> 00:19:31,640 and I have this broken out as far as all the labor that was 287 00:19:31,640 --> 00:19:34,880 put into making these posts. So that's an additional cost, and I 288 00:19:34,880 --> 00:19:40,160 have all of the cost associated with them. $920.20 for 289 00:19:40,160 --> 00:19:46,240 materials. $1,000 for labor. It's all spelled out there, and 290 00:19:46,240 --> 00:19:51,100 it's in my budget. We go down a little bit further. We ended up 291 00:19:51,820 --> 00:19:55,480 changing the screen system. So there was the architect had 292 00:19:55,480 --> 00:19:58,180 speced a structural screen on the bottom, and then a different 293 00:19:58,180 --> 00:20:01,200 screen on top, and we would have had to put. A lot of framing in 294 00:20:01,500 --> 00:20:04,860 it would have reduced the size of the openings, and it would 295 00:20:04,860 --> 00:20:07,260 have just really changed the feel of the porch. And once we 296 00:20:07,260 --> 00:20:09,900 got it all framed and we got a trend in PVC, we wanted to 297 00:20:09,900 --> 00:20:12,480 preserve as much of that look and that scale as possible. And 298 00:20:12,480 --> 00:20:14,880 I felt that building all this out to put screens on the inside 299 00:20:15,120 --> 00:20:17,940 was really going to change the look of the job. So I got a hold 300 00:20:17,940 --> 00:20:20,300 of client and said, Hey, are you good if we change the screen 301 00:20:20,300 --> 00:20:22,580 system. Once we change the screen system, we're going to 302 00:20:22,580 --> 00:20:24,860 need rails in there. We're going to need guard rails for the 303 00:20:24,860 --> 00:20:27,200 ports. We're going to have to make guardrails. So I have an 304 00:20:27,200 --> 00:20:29,300 additional cost for the materials to make the 305 00:20:29,300 --> 00:20:32,480 guardrails. I decided and elected to make them myself, 306 00:20:32,900 --> 00:20:35,300 purchase the material, fabricate them, because they're going to 307 00:20:35,300 --> 00:20:38,000 look better. We'll integrate it into our screen system, and also 308 00:20:38,000 --> 00:20:40,960 it's going to cost less. So I have the cost of the extra 309 00:20:40,960 --> 00:20:46,240 material and the labor separated within my budget in bold, in 310 00:20:46,240 --> 00:20:51,580 red, for her to see what that cost was, something small, but 311 00:20:51,940 --> 00:20:56,500 we went to go touch up all the interior paint, and ended up 312 00:20:56,500 --> 00:20:59,740 patching some other areas of the house while we were there, and 313 00:20:59,740 --> 00:21:02,580 the paint that the house had been painted with. It dried up, 314 00:21:02,580 --> 00:21:05,820 so we had to buy additional paint. So that's in the extras. 315 00:21:05,820 --> 00:21:11,220 So I get this invoice done, I have the total job cost to date, 316 00:21:11,640 --> 00:21:15,240 everything up to this point. The total job cost I can reflect 317 00:21:15,240 --> 00:21:18,300 what that looks like compared to what our initial budget is. 318 00:21:18,480 --> 00:21:23,480 We're under budget, and I can look at what's left on my scope 319 00:21:23,480 --> 00:21:26,840 of work to date. So I have extras that are left to date, 320 00:21:27,440 --> 00:21:31,220 which is bringing in a little bit more fail. It's actually the 321 00:21:31,220 --> 00:21:33,920 grade of the fence in the backyard. We want to raise up, 322 00:21:33,920 --> 00:21:37,100 because our patio came up higher in one area, so we want to 323 00:21:37,100 --> 00:21:39,680 elevate that fence. So we're gonna have to pull that fence 324 00:21:39,680 --> 00:21:43,960 and lift that up. So that's an extra and then we also have 325 00:21:43,960 --> 00:21:46,960 things that are just left on the budget, installing the screen 326 00:21:46,960 --> 00:21:51,580 system. What else is left on this general cleanup punch list 327 00:21:51,580 --> 00:21:56,260 items? So I look at what all of my budget is left, and I compare 328 00:21:56,260 --> 00:22:00,780 that to what the job has costed to date. What's left on the 329 00:22:00,780 --> 00:22:04,500 outstanding deliverables on the contract. And I can look at 330 00:22:04,500 --> 00:22:07,860 where we are and what we're trending as far as budget. I 331 00:22:07,860 --> 00:22:11,400 also, at this point, have added up all my extras to date, and I 332 00:22:11,400 --> 00:22:14,700 look at what the extras look like. And I can say, here are 333 00:22:14,700 --> 00:22:17,160 extras to date. They're $11,597.97 334 00:22:21,660 --> 00:22:25,700 I can look at what I think we have left in extras, what's the 335 00:22:25,700 --> 00:22:28,280 fence going to cost? What's the extra grade and we're going to 336 00:22:28,280 --> 00:22:33,080 cost so I can say, hey, we're at $15,000 in extras for this job. 337 00:22:33,500 --> 00:22:37,280 I can look at what the job cost to date, and then I can say, 338 00:22:37,280 --> 00:22:42,820 hey, we're still on budget. We're $5,000 over budget. Worst 339 00:22:42,820 --> 00:22:47,560 case, I'm $15,000 over the anticipated budget because of 340 00:22:47,560 --> 00:22:50,380 these extras. But the rest of the job and the rest of the 341 00:22:50,380 --> 00:22:54,220 scope is still on track, I think, based on where I stand, 342 00:22:54,280 --> 00:22:57,760 the total job cost to date, and what I have left, and what 343 00:22:57,760 --> 00:23:01,860 extras we have that I'm actually going to get this da job done 344 00:23:01,980 --> 00:23:05,580 for less than the original budgeted cost of the project, 345 00:23:05,580 --> 00:23:08,640 which is great. We did extra work that wasn't anticipated, 346 00:23:08,640 --> 00:23:12,540 but we must have recouped enough cost within there that this job 347 00:23:12,540 --> 00:23:14,820 wound up being right around what she thought it was going to be 348 00:23:14,820 --> 00:23:17,520 in the first place. Maybe it's $5,000 more than she 349 00:23:17,520 --> 00:23:23,240 anticipated, but according to our budget, I did roughly 12 to 350 00:23:23,240 --> 00:23:26,840 $15,000 worth of work that I didn't anticipate. But there 351 00:23:26,840 --> 00:23:29,900 must have been numbers within that budget that I had 352 00:23:29,900 --> 00:23:34,040 overestimated initially, that are coming down under. So the 353 00:23:34,040 --> 00:23:36,500 client pays what the client pays. She understands at this 354 00:23:36,500 --> 00:23:39,860 point, with one more invoice cycle left, that will get done 355 00:23:39,860 --> 00:23:43,480 in spring, that the job is on track, that our budget is on 356 00:23:43,480 --> 00:23:46,420 track, and she understands what the extras are. She understands 357 00:23:46,420 --> 00:23:49,600 what she's paid to date, right? So she's paid that extra $25,000 358 00:23:50,800 --> 00:23:56,080 so what I'm invoicing her for now is actually less than what 359 00:23:56,080 --> 00:24:00,360 she owes me, because I'm backing out that $25,000 she's already 360 00:24:00,360 --> 00:24:03,780 paid me for that at the first billing cycle. I know that what 361 00:24:03,780 --> 00:24:06,120 I have left on the job come springtime is going to be a 362 00:24:06,120 --> 00:24:09,120 small number, so I'm going to back that out, and I'm going to 363 00:24:09,120 --> 00:24:13,140 have an invoice for what's due to date, and that's going to be 364 00:24:13,140 --> 00:24:15,840 everything from this past billing cycle, minus that 365 00:24:15,840 --> 00:24:16,200 $25,000 366 00:24:17,520 --> 00:24:22,160 Tyler Grace: so at that point, she's giving me a check. I'll 367 00:24:22,220 --> 00:24:24,800 wrap this job up, I'll punch it out, and I'll come back at 368 00:24:24,800 --> 00:24:28,100 Spring and we'll execute the rest of the contract, which are 369 00:24:28,100 --> 00:24:31,640 essentially extras at the end of this job. But that's how I'm 370 00:24:31,640 --> 00:24:34,640 maintaining the budget throughout this project. And all 371 00:24:34,640 --> 00:24:36,920 of it's done through notes. It's done through an Excel 372 00:24:36,920 --> 00:24:40,300 spreadsheet, and it's done just through tracking payments. It's 373 00:24:40,300 --> 00:24:43,060 done through looking at my initial budget. So I have my 374 00:24:43,060 --> 00:24:46,060 initial budget up top of my spreadsheet, and then I track my 375 00:24:46,060 --> 00:24:50,200 job cost right under that. So I can say, Oh, hey, here's what it 376 00:24:50,200 --> 00:24:53,140 took me to frame this job out, all the labor of everyone 377 00:24:53,140 --> 00:24:56,560 included. I can go up and I can look at what I anticipated for 378 00:24:56,560 --> 00:24:59,140 labor costs and say, Yeah, we're right on track, or we're within 379 00:24:59,140 --> 00:25:01,920 a few hours, or maybe. Maybe we're slightly over. I can look 380 00:25:01,920 --> 00:25:05,400 at all the PVC that I budgeted for up top right. I have ASIC 381 00:25:05,400 --> 00:25:10,740 post wraps, $3,300.04 by four. Post wraps, $2,400 one by four 382 00:25:10,740 --> 00:25:15,360 for the lattice, 1600 20. I even put 50 quantity PVC for the 383 00:25:15,360 --> 00:25:19,500 lattice, made a vertical one by four. So I have all of these 384 00:25:19,500 --> 00:25:23,240 notes. I have one by 12 PVC. All this spelled out. I can go down, 385 00:25:23,240 --> 00:25:25,760 I can look at my invoice from the lumber company and say, 386 00:25:26,240 --> 00:25:30,680 let's see, hey, my PVC costs x amount. And then I can go up and 387 00:25:30,680 --> 00:25:33,740 say, hey, you know what? That was $2,000 less than we thought. 388 00:25:34,220 --> 00:25:37,760 So I have $2,000 worth of wiggle room in this budget to get 389 00:25:37,760 --> 00:25:40,960 things done the way that I need them done again, T and M. So my 390 00:25:40,960 --> 00:25:44,260 client is paying what the cost of things are. I'm creating as 391 00:25:44,260 --> 00:25:47,920 realistic of a budget as possible, from regards to 392 00:25:48,040 --> 00:25:53,680 schedule, budget scope, but it may not be 100% accurate. It's 393 00:25:53,680 --> 00:25:57,580 my job, throughout the course of that job, to communicate to the 394 00:25:57,580 --> 00:26:01,500 client how that budget's trending, where we've gone over 395 00:26:01,740 --> 00:26:06,240 what may cause an increase in price. But wait, what may not 396 00:26:06,240 --> 00:26:08,460 right? If I go to the client say, Hey, we're over on this, 397 00:26:08,460 --> 00:26:11,820 we're over on this, we're over on this, it's $10,000 more, 398 00:26:13,080 --> 00:26:16,620 Unknown: and it winds up not being $10,000 more, it makes it 399 00:26:16,620 --> 00:26:19,920 look bad on me. So I say, hey, look, we're trending at $10,000 400 00:26:20,640 --> 00:26:24,980 more on this job, I felt that I may have over budgeted the 401 00:26:24,980 --> 00:26:28,400 beginning or the end part the finishes of this job, right? 402 00:26:28,400 --> 00:26:31,880 That I may have accounted for extra PVC. I may have accounted 403 00:26:31,880 --> 00:26:35,120 for extra time. So I'm going to say, hey, we're trending that 404 00:26:35,120 --> 00:26:38,840 we've spent there's some tasks that have been longer or more 405 00:26:38,840 --> 00:26:42,700 than we anticipated. Maybe it's, it's to the tune of $10,000 but 406 00:26:42,700 --> 00:26:46,120 I think that we have space in the budget. So I can look at my 407 00:26:46,120 --> 00:26:49,900 budget, and I have a feeling of where we're trending. I have a 408 00:26:49,900 --> 00:26:53,080 feeling on a project of this scale, where I have wiggle room, 409 00:26:53,080 --> 00:26:56,140 where things can be made up, where I can spend a little bit 410 00:26:56,140 --> 00:26:59,620 more time. And I understood right after my second invoice, I 411 00:26:59,620 --> 00:27:03,840 understood what had been put in place, how much work was left 412 00:27:04,140 --> 00:27:07,680 and how much budget was left. And I understood that I needed 413 00:27:07,680 --> 00:27:11,220 to hustle some I knew that there was a lot of work that had left 414 00:27:11,220 --> 00:27:14,820 to be done, and that I had to be very efficient, that I had to 415 00:27:14,820 --> 00:27:20,040 watch how much I was I was how many hours I was accruing on 416 00:27:20,040 --> 00:27:24,380 this project and what I was spending. I knew that as I as I 417 00:27:24,980 --> 00:27:29,120 went into the second half of this job, that my budget was 418 00:27:29,120 --> 00:27:31,400 close. I knew that there were some things that we ran into 419 00:27:31,400 --> 00:27:34,220 that took a little longer and cost a little more than we 420 00:27:34,220 --> 00:27:37,400 anticipated. So I knew on the back half of the job that I had 421 00:27:37,400 --> 00:27:41,500 to I had to be more prudent. I had to be diligent in how I was 422 00:27:41,500 --> 00:27:44,920 managing this job, on what we were paying for, on managing my 423 00:27:44,920 --> 00:27:47,740 subs, on making sure that we weren't overpaying, that we were 424 00:27:47,740 --> 00:27:50,500 getting the scope that we delivered, and that if we made 425 00:27:50,500 --> 00:27:53,680 changes, how they were going to impact the budget, and properly 426 00:27:53,680 --> 00:27:58,180 communicating that to my client, everything has gone pretty much 427 00:27:58,180 --> 00:28:01,260 according to plan. I understood how it was going to I understood 428 00:28:01,260 --> 00:28:03,480 how the job was trending. There's some things towards the 429 00:28:03,480 --> 00:28:06,060 end of the job that wound up being extras that might cost a 430 00:28:06,060 --> 00:28:09,180 little bit more, but they were communicated to the client. I'm 431 00:28:09,180 --> 00:28:13,440 still aiming to execute this contract within budget, even 432 00:28:13,440 --> 00:28:17,160 with the extras, because how's that not a win? I got paid for 433 00:28:17,160 --> 00:28:21,320 all of my time. The client got everything that they wanted, 434 00:28:21,440 --> 00:28:24,680 plus some possible upgrades and a better project than they 435 00:28:24,680 --> 00:28:27,800 anticipated, and it's still for the initial budget that I put in 436 00:28:27,800 --> 00:28:32,240 place. Like, if that's not a home run, I don't know what is. 437 00:28:32,600 --> 00:28:35,780 So that's how I manage my budgets. That's how I manage my 438 00:28:35,780 --> 00:28:39,080 projects. And again, at the end of this, when I send this 439 00:28:39,080 --> 00:28:42,880 invoice out, and I have one more billing cycle, I'll know, and 440 00:28:43,300 --> 00:28:47,620 the client will know the total job cost as of today, right? I 441 00:28:47,620 --> 00:28:52,000 have that number to the penny to the 17 cents on top of the 442 00:28:52,000 --> 00:28:56,680 number. I have all the extras. I have the anticipated extras. I 443 00:28:56,680 --> 00:29:01,080 have paid the date, and I have what's due to date so they are 444 00:29:01,080 --> 00:29:04,080 fully aware of everything that's gone into this job. They 445 00:29:04,080 --> 00:29:06,600 understand all the extras, they understand every cost that's 446 00:29:06,600 --> 00:29:08,880 gone into it, and they understand how every decision 447 00:29:08,880 --> 00:29:12,000 that we've made has impacted that cost. So I'm good to close 448 00:29:12,000 --> 00:29:16,020 this job out till spring, and we have a general idea of what the 449 00:29:16,020 --> 00:29:20,720 balance of this contract will be come springtime, but I made sure 450 00:29:20,720 --> 00:29:25,040 that I've managed this project properly. I also this is a 451 00:29:25,040 --> 00:29:28,880 client that I've worked for for so long as things have gotten a 452 00:29:28,880 --> 00:29:31,580 little hectic, a little stressful, as as trimming out 453 00:29:31,580 --> 00:29:35,180 this job had taken a little bit more than anticipated, I 454 00:29:35,180 --> 00:29:38,720 understood it's a really great client, that I've really enjoyed 455 00:29:38,720 --> 00:29:41,860 this aspect of the job, that it's a really amazing job, and 456 00:29:41,860 --> 00:29:44,680 I'm getting a lot of good photos from it, and it's something that 457 00:29:44,680 --> 00:29:47,140 I could get photographed if I wanted to, and I'll probably 458 00:29:47,140 --> 00:29:50,320 land another job or two that's similar to this, from this, that 459 00:29:50,320 --> 00:29:54,940 I am absolutely willing to concede some of my time to this 460 00:29:54,940 --> 00:29:57,700 project if I'm going over budget, and I feel like, hey, 461 00:29:57,700 --> 00:30:01,380 it's five grand over that. I. Don't feel like she should pay, 462 00:30:01,620 --> 00:30:06,060 or that she really doesn't want to pay. I'm more than willing, 463 00:30:06,240 --> 00:30:09,060 understanding all the costs of this job, to say, You know what, 464 00:30:09,060 --> 00:30:12,300 I'm going to concede that money because I made the money that I 465 00:30:12,300 --> 00:30:14,700 needed to elsewhere on the job. I know that there were markups 466 00:30:14,700 --> 00:30:17,700 that made me money I got. I know that I captured all of my time. 467 00:30:17,940 --> 00:30:20,840 I know that she was a fantastic customer. I know that that 468 00:30:20,840 --> 00:30:23,900 $5,000 is not going to make or break me, and I feel like this 469 00:30:23,900 --> 00:30:26,360 is the right thing to do if it were to come to it. I have the 470 00:30:26,360 --> 00:30:29,120 ability to do that because I made my money throughout the 471 00:30:29,120 --> 00:30:31,880 job. I didn't get burnt throughout this entire job. And 472 00:30:31,880 --> 00:30:35,240 then say, Hey, I'm going to concede $5,000 I made the money 473 00:30:35,240 --> 00:30:35,960 that I needed to 474 00:30:37,340 --> 00:30:38,900 Tyler Grace: everything's all good on my end. 475 00:30:40,100 --> 00:30:42,947 Unknown: So I manage the job with that in mind, right? I'm 476 00:30:43,005 --> 00:30:46,434 not going to stress out, and this last week of time, or two 477 00:30:46,492 --> 00:30:49,921 weeks just do a crappy job or put pressure on people to get 478 00:30:49,979 --> 00:30:53,408 done. When we've we've spent this much time, it's not worth 479 00:30:53,466 --> 00:30:56,952 rushing at the end of the job to say I need to maintain this 480 00:30:57,011 --> 00:31:00,555 budget, and I'm going to throw everything else out the window 481 00:31:00,614 --> 00:31:04,042 and just slap it up. No, I'd rather concede a little bit of 482 00:31:04,100 --> 00:31:07,297 my time, if need be, and continue to knock this job out 483 00:31:07,355 --> 00:31:10,783 of the park. Because I made money throughout the whole job. 484 00:31:10,842 --> 00:31:14,328 I didn't work for free. I made all my markups, anything that 485 00:31:14,387 --> 00:31:17,757 was extra, anything that we ran into, the client, was very 486 00:31:17,815 --> 00:31:21,302 understanding. So life's a two way street, right? She's been 487 00:31:21,360 --> 00:31:24,673 very fair. She's been very understanding. I've worked for 488 00:31:24,731 --> 00:31:28,276 her for almost 15 I think it was before Selby was born, so 13 489 00:31:28,334 --> 00:31:31,530 years, and I'm going to be appreciative of that. And if 490 00:31:31,588 --> 00:31:35,307 that's a slight concession on my behalf, I'm more than okay with 491 00:31:35,366 --> 00:31:38,794 that. So that is my project. That's my budget. That's how I 492 00:31:38,852 --> 00:31:42,397 ran through this. I know last time I did this, Dave wanted to 493 00:31:42,455 --> 00:31:45,768 show some of the spreadsheet. I'm not willing to show the 494 00:31:45,826 --> 00:31:49,371 numbers of what this job totals, just because it's my clients 495 00:31:49,429 --> 00:31:53,090 business and it's it to me, she didn't sign up for that. If you 496 00:31:53,148 --> 00:31:56,693 have questions about it, yeah, I'll answer questions offline. 497 00:31:56,751 --> 00:32:00,180 But I would, I could show a separate spreadsheet if it were 498 00:32:00,238 --> 00:32:03,783 helpful for for you guys and girls, but for me, I'm not going 499 00:32:03,841 --> 00:32:07,270 to share this spreadsheet with you, so you're just going to 500 00:32:07,328 --> 00:32:10,931 have to listen to this podcast and maybe imagine what it looks 501 00:32:10,989 --> 00:32:14,592 like and what the numbers look like. But that being said, it's 502 00:32:14,650 --> 00:32:18,312 the same as every other one of my spreadsheets, right? I have I 503 00:32:18,370 --> 00:32:21,450 have line item budget, I have scope, I have specifics 504 00:32:21,508 --> 00:32:24,995 attributed to every single task, and I have payments. I have 505 00:32:25,053 --> 00:32:28,481 credits. I have outstanding payments due, but I'm not going 506 00:32:28,540 --> 00:32:32,143 to show the spreadsheet again. David asked me if I could share 507 00:32:32,201 --> 00:32:35,164 that. I'm not going to share that, just for sake of 508 00:32:35,223 --> 00:32:38,768 preserving my clients private matters. She didn't sign up for 509 00:32:38,826 --> 00:32:42,545 me showing all of the financials of this project. So I hope that 510 00:32:42,603 --> 00:32:45,974 this helps you guys and girls understand how I work, how I 511 00:32:46,032 --> 00:32:49,577 manage jobs, how I how I manage add ons and extras on jobs at 512 00:32:49,635 --> 00:32:53,238 the beginning versus the end of the job, how I invoice, what I 513 00:32:53,296 --> 00:32:56,550 leave outstanding. All the information with budgeting. I 514 00:32:56,608 --> 00:33:00,211 know that we talk a lot about budgeting, that we manage jobs a 515 00:33:00,270 --> 00:33:03,814 certain way, but in real life, how am I putting that in place 516 00:33:03,873 --> 00:33:07,359 to ensure that my job is is staying on budget and staying on 517 00:33:07,418 --> 00:33:10,788 task? And if we've run over, what does that look like, and 518 00:33:10,846 --> 00:33:14,333 how am I addressing that? So hopefully this helps all of you 519 00:33:14,391 --> 00:33:17,878 have a better understanding of that. I appreciate it. I will 520 00:33:17,936 --> 00:33:19,680 catch you all on the next one.