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The key objectives for a successful construction project are to: 1) Stay on schedule 2) Stay on budget 3) Minimize Stress. In order to achieve these objectives, it is critical for all parties involved to fully understand the order of the phases of construction, what is included in each phase of construction and when the selections and decisions must be made so the materials are available in time to keep the project going without delay. The construction team, which consists of the owner, builder, architect, designer, realtor, and the subcontractors and vendors can all benefit from the knowledge and tools in this course. To gain the holistic understanding of the residential construction process this course provides can take decades of blood, sweat and tears. Please allow my lessons learned from 22 years of experience and over $100,000,000 worth of projects completed to help you avoid costly mistakes, nail the key objectives, and to find your construction flow.In a construction project, the work that is done before the first shovel of dirt is moved will set the stage for all that is to come. The selection of a builder, architect, designer, and lender will establish the team that will surround and support the owner throughout the process.The design of the house and the material specifications will drive the cost and the timing of the entire project. The bid and contract with your builder will establish the scope and budgets for all the work to be completed. It's very important to understand what a thorough bid and contract should encompass. A well done bid and contract should be an accurate representation of your desired outcome including appropriate line item costs and material budgets. Working together with your builder and designer to create the specifications for your bid is the best way to produce a bid that will be accurate and complete.Last but not least in this section is permitting. The process of getting permits can be quick and painless or slow and agonizing. Most of the time it is somewhere in the middle but a good plan and implementation from the construction team will create the best outcome. Understanding what is included in the permitting process and how it works can ensure that the plan for handling permits is solid.Let me leave you with an example of the value of the information in this section of the course. When selecting a lender, it is very important to understand what their policies are on advancing funds for line items that may require deposits when ordering materials. I had an owner recently who ordered custom cabinets from overseas, custom metal siding and low voltage equipment all within the same month. Each of these items required a 50% deposit to place the order. The owners bank would not advance funds for any of these items until they were on site and installed. The owner had to pay for deposits out of pocket which included putting large amounts on their credit card and paying interest for months while the products were delivered and installed. This situation could have been avoided or mitigated if the owner had known the banks policies in advance. The owner could have also selected a different bank that had policies that were better suited for their project. In any case, knowing this information in advance would have saved the owner hundreds of dollars in interest on the credit card bill. This is just one example of many where the information in this course can save money during your construction project.

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