Single Moms and the Labor Shortage: Seizing Opportunity or Taking Advantage?

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Episode Show Notes / Description:
  • Viewer Question: A viewer asks about capitalizing on the labor shortage by getting certified in trades and shares their experience of building an accessory dwelling unit (ADU) on their property using YouTube and motivation.
  • Certification and Licensing:
    • In most states, carpentry and framing work don’t require certification or a license. You can work as an employee for a licensed general contractor.
    • To start your own business, you can obtain a general contractor’s license through education, training, and exams.
  • Insurance Challenges:
    • Obtaining insurance for larger jobs may be difficult without prior experience in home building.
    • A potential solution is becoming a contractor and subcontracting work to a larger general contractor or another entity.
  • Labor Market Insights:
    • Many contractors struggle to find quality workers who are reliable and skilled enough to justify high pay (e.g., $100/hour).
    • Entry-level workers are often easy to find but may not show up or produce substandard work.
    • Skilled workers, such as project managers or framers, are in high demand and can earn premium wages.
  • Earning Potential:
    • If you’re dedicated, motivated, and skilled, you can easily earn $80-100/hour, potentially making several thousand dollars a week.
    • There are plenty of opportunities in the building industry, including rehab, remodeling, and additions.
    • You can also work as a handyman, handling tasks like fences and decks, and earn the same high rates.
  • Challenges of Bidding Jobs:
    • Bidding can take up more time than doing the actual work, as you might need to visit multiple job sites and spend time submitting bids.
  • Tips for Success:
    • Make sure to have good insurance.
    • Work with legitimate companies that pay properly, have insurance, and provide work comp.
    • Conduct background checks, especially for contractors, as many in the industry have criminal backgrounds.
  • Final Thoughts:
    • The building industry offers plenty of opportunities for those who are ambitious, dedicated, and hardworking.
    • Be smart, check your references, and start building a career in this rewarding field.
Single Moms and the Labor Shortage: Seizing Opportunity or Taking Advantage?
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