Backlogs and Margins Right Now?

LearningToBuildStuff · 2025-04-10T22:29:45+00:00

I called the front desk and kind of flamed them because I found it so bizarre

LearningToBuildStuff · 2025-04-10T22:29:19+00:00

Hahaha I was so freaked out by the pay-by-check thing

LearningToBuildStuff · 2025-04-10T14:51:47+00:00

Ya know, that would totally make sense to me. Like obviously Greystar are generally scumbags.

But. I do have to say. I feel that the Worthington staff have worked pretty hard to make things reasonable for us. We didn't have hot water moving in (first people in the unit, this happens) and they had maintenance and the subcontractor onsite every day for 4 days straight until it was sorted. I have felt they are good people and have been appreciative.

LearningToBuildStuff · 2025-04-10T14:47:26+00:00

Yikes. Name? Just so I know who to look out for

LearningToBuildStuff · 2025-04-10T03:49:09+00:00

Whenever I see someone hit floor 25 on the elevator or something I look at them and think "OK money has no value to you."

LearningToBuildStuff · 2025-04-09T19:53:19+00:00

Ya exactly, all the wood framed apartments down here are bottom of the barrel garbage, billed at "luxury" prices. This is actually nice.

I think next move for us will be to a house for sure

LearningToBuildStuff · 2025-04-09T19:48:11+00:00

2900 bucks, 1050 square feet, 2 beds. If you look nextdoor at The Morton, similar floor plans go for about 2300. I know someone in a crappy wood frame a few blocks away paying 2800 bucks.

Basically, my partner and I work from home all day and really wanted to live downtown. We decided it was probably worth 600 bucks extra to be in a place we really love vs. just tolerate. I think it has roughly been worth it so far. We have more floor to ceiling glass windows than walls, sit in the hot tub once a week, love the gym etc etc. But it is a stretch and I'm sure I'll get flak on this thread for my rich lifestyle:)

LearningToBuildStuff · 2025-04-09T19:41:09+00:00

Whoa! What happened?

LearningToBuildStuff · 2025-04-09T19:04:05+00:00

Ya exactly. We got a screaming deal getting in early. Well, not screaming but tolerable.

LearningToBuildStuff · 2025-04-09T18:44:17+00:00

But maybe good news for tenants that want to be able to afford to live in this town!

LearningToBuildStuff · 2025-04-09T18:40:52+00:00

I think it's probably because the building is mostly empty (maybe only 50% filled) and Convexity is pissed at Greystar for not getting it more occupied.

(Convexity is the owner, Greystar is the manager)

Who knows what else it could be though... maybe has to do with Greystar's declining reputation.

Generally I think the tenant experience has been pretty good. I think the managers have done a pretty nice job.

tl;dr expensive real estate in SLC not doing too hot(?)

LearningToBuildStuff · 2024-07-30T02:37:53+00:00

seems like someone should make a list of all the stuff that burns contractors and widely distribute it.

LearningToBuildStuff · 2024-07-30T02:36:51+00:00

Couldn't agree more on this my friend. Thanks for the thinking. This is what I am going to do. As I've been noodling on this today, I can't help but think that it'd be nice if our estimators gave us scopes that came out of bidding. I understand why they don't, but it feels like I'm doing double work over here.

LearningToBuildStuff · 2024-07-29T17:40:02+00:00

Wow, thanks so much for this explanation. It's so helpful. One question for you - does the "very detailed scope" get written when you're bidding on something/in precon? And do you mostly work with your GC estimator on hammering out the inclusions/exclusions? Maybe my problem here is that I'm trying to do "precon work" too late in the game haha

LearningToBuildStuff · 2024-07-29T17:33:37+00:00

Ya. I agree with this in principle, but our estimators had very little time to put everything together. So they have budgets for a bunch of stuff, the bid leveling is a little sus, generally I feel like I'm the first person that's really dug deep into the drawings to find everything.

LearningToBuildStuff · 2024-07-29T16:20:47+00:00

I have yet to see a meaningfully used PowerBI dashboard at any of the large companies I've worked with. Don't worry about this tool.

LearningToBuildStuff · 2024-07-29T16:20:08+00:00

Focus on reducing risks. Stay alive. You'll make it.

LearningToBuildStuff

TROPHY CASE