Dan "The Roofing Man" is The Creative Contractor
Exploring the world of entrepreneurship, contracting and investing through candid conversations
Exploring the world of entrepreneurship, contracting and investing through candid conversations
Dan "The Roofing Man" Grifford is a second generation roofer and has been doing it ever since 2003. Over the years he has experienced significant success and major failure. More recently, his contracting endeavors have gone from being JUST a roofing contractor to adding water and mold restoration, general contracting, flooring and HVAC trades. Each of the divisions produce six or seven figure revenue streams for Max Restoration, Max Mechanical and Max Roofing.
Immediately after he graduated college in 2007, Dan obtained his real estate license. For over 15 years he has invested in single family, multi-family, industrial and raw land projects that he wholly owned or owned with his partner(s). He has developed various investment thesis based on the individual project itself and will wholesale, wholetail, flip, or hold based on the numbers for the individual property.
Without getting into a "Dan" (very long) story...Dan has been blessed to see significant success and massive failure, including bankruptcy and multiple lawsuits.
Being a second generation contractor doesn't typically catapult you into successful entrepreneurship. But, it can and Dan is proof of that.
Dan has travelled the world and seen the best and worst of many countries. He has sat in rooms and been in conversations that he didn't think he belonged in. He is friends with some of the most influential and successful people of our modern day.
He has amassed a network that is second to few and he has built a trust and corporate structure to protect his businesses and family for generations to come.
Don't forget... he is just a dumb roofer. If he can do it, so can you.
And he is going to share many, many "DAN" stories about how.
In his first episode, Dan talks about how a $30,000 investment into himself turned into a return of over $7,000,000.00 (and counting).
He dives into the good, the bad and the ugly of masterminds, personal coaching, investment groups and personal development investments.
He discusses how the six figure investment has affected his professional and personal life and how the experiences now influence the decisions he makes and who he aligns himself with. This is an excellent episode for anyone looking to invest in themselves and personal development.
There are tons of contracting businesses out there both locally and nationally. However, many of them don’t get into “The Business of Contracting”. They don’t know or understand the simple basics of starting, owning, operating and growing their small contracting business into a legitimate construction company that produces cash, cash flow and earns a profit. Dan gets very basic and granular in this episode and discusses simple things like LLC’s, bank accounts, and how to properly identify your breakeven point. He then gets into more complicated concepts like the difference of cash and accrual accounting and understanding the relationship (or lack thereof) between the two accounting basis a company can elect to use. This is an excellent episode for contractors or entrepreneurs in general to learn a wide range of information on business and accounting.
In episode 3 of 'The Creative Contractor Show,' Dan takes us on a journey through his humble beginnings in a low-income household, navigating the challenges of being labeled as 'gifted' while being diagnosed with ADD and ADHD. Despite the struggles his family, friends, coaches and teachers faced in dealing with his hyperactive personality, Dan reveals how these very traits became his secret weapons as an entrepreneur. Dan candidly shares the hurdles he faced while working with family in business and the pivotal moment when he chose to go off on his own. He reflects on how the same labels he was given as a child and his ability to think outside the box have fueled his success in managing multiple ventures simultaneously. As Dan's entrepreneurial journey unfolds, he sheds light on his venture into real estate investing, offering practical insights and exciting plans for the future. Watch or listen to real talk from a contractor-turned-entrepreneur who turned adversity into advantage!"
Things to go over once you start making money: • Pretty much follow EOS • Fire yourself as much as you can and implement a COO. • Understand the CEO and COO roles • Create all roles beneath the COO • Identify who they report to • Identify roles/responsibilities/rates • Doc everything out. • As your time frees up, work heavily with the COO to ensure the company is operating as efficiently and profitably as possible. • Work closely with your external experts to make sure your company is set up right and protected: • Attorney • Operating agreement • Employment agreement • Subcontractor agreement • Contracts with clients • Contracts with suppliers • Insurance policies • Trust structure. • CPA • Make sure you’re taking advantage of tax benefits • Consider setting up a management company and putting kids on payroll. • Make sure each entity you own has it’s own LLC, EIN, bank accounts, insurance policies, etc. and pay attention to payments made from entity to entity. • Banker • Make sure your bank accounts are set up right. • Use the entity and your personal credit to get lines of credit set up in the event business slows down or opportunities arise. • Make sure financial statements are up to date with the banker so loans are easy to get. • Financial Consultant/Wealth Manager • Make sure all assets and liabilities are known to your wealth manager • Make sure he knows your entire external team. • Work with them for life insurance, benefits for your company, buy/sell agreements, best way to acquire investments within and outside the company. • • Step back and look for other “bolt on” divisions to add or companies to buy. • Make sure the numbers are in line with your company • Some owners you want • Some you don’t • Some you will partner with. • Decide if you keep the companies operating independely or if you absorb them all together. • Much of contracting is rinse and repeat. It boils down to math, proper accounting, having the right people. • Look to buy real estate. • Single Family • Multi-Family • Hold Vs. Sell • Financing • Pay Cash • Loan • Creative Financing • Hard money
In this episode of 'The Creative Contractor Show,' Dan gets into the crucial topic of "Building Your Brand in the Trades." Through his own experiences as a successful contractor entrepreneur, Dan shares insights and practical advice for fellow contractors looking to establish and strengthen their presence in the industry.
In this episode, Dan breaks project management down guiding listeners through ten simple steps from lead reception to payment collection. Drawing from his extensive experience in the contracting industry, Dan shares practical insights and strategies to help contractors navigate the project lifecycle effectively. Listeners can expect to gain valuable knowledge and actionable advice on optimizing processes, exceeding client expectations, and achieving success in their contracting ventures. Join Dan as he unveils the essential elements of seamless project management tailored for contractors of all levels.
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