# Essentials for starting residential contractor



## mikestew (Apr 18, 2011)

What doyou EC's think are the neccessary tools to start your own 1 man gig? Not basic hand tools, but power tools, business licences, vehicle and accessories, hole saw/ko sets, fishing tools, benders, etc.


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## Theriot (Aug 27, 2011)

mikestew said:


> What NEC you EC's think are the neccessary tools to start your own 1 man gig? Not basic hand tools, but power tools, business licences, vehicle and accessories, hole saw/ko sets, fishing tools, benders, etc.


The most important thing I bring to job sites would be wire and a good wire rack system. Every other thing I can find a replacement but wire without it I'm just a large termite drilling hole in lumber.


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## macmikeman (Jan 23, 2007)

Dartboard and blindfold for help with bidding the jobs............ Oh, and a square foot.


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## electrictim510 (Sep 9, 2008)

Theriot said:


> The most important thing I bring to job sites would be wire and a good wire rack system.


You can also build your own wire rack (spinner) outta a couple 2' pieces of 2x4 a bit of 12/2 and a few staples.. man, those were the days..


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## Theriot (Aug 27, 2011)

electrictim510 said:


> You can also build your own wire rack (spinner) outta a couple 2' pieces of 2x4 a bit of 12/2 and a few staples.. man, those were the days..


That's sweat idea put some spinners on my rolling wire rack. Bling bling.


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## electrictim510 (Sep 9, 2008)

Theriot said:


> That's sweat idea put some spinners on my rolling wire rack. Bling bling.


:lol: I use to use 250' rolls for multiple home runs. It worked awesome. Pulling 6-9 runs at once can make a breeze out of wiring kitchens and the surrunding areas.


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## 480sparky (Sep 20, 2007)

Get market research done.
Get a lawyer.
Get an accountant.
Get a banker.
Get one years' worth of wages saved up.
Get a business plan.
Get a balance sheet.
Get good credit.
Get advertising.
Get customers.
Get going.


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## leland (Dec 28, 2007)

480sparky said:


> Get market research done.
> Get a lawyer.
> Get an accountant.
> Get a banker.
> ...



Get an Alias. 
Get paid in cash.
Get wise to the 'system'.

Basic to start with. More you spend, the more your rates go up.
Rates go up, you lose to the others.
If you've been in the trade you most likely have all you need.
Knowledge and experience will carry you far.
Then you buy the treats,

Chew and scr.....
Don't claim a thing and save every receipt.
Tons of money to be made if you just hide from 'Uncle Sam'.
If you don't exist he can't find you.

Sad but true. Correct me if I'm wrong.


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## bubb_tubbs (Apr 15, 2012)

If you don't claim income, you can't invest it without leaving a paper trail, which significantly decreases your income in the long run.


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## chicken steve (Mar 22, 2011)

well its what you claim and how you claim it Bubb

auditors aren't going to believe you survive on Oxygen....


~CS~


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## bubb_tubbs (Apr 15, 2012)

I'm not saying you wouldn't claim anything, obviously.

If all your money is taxable income, you can safely invest it with impunity.

Even setting aside $1500 per month in mutual funds equates to approximately 3 million dollars over the course of 30 years, assuming an average growth rate of 10%.

I claim all cash jobs over $2000.


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## Podagrower (Mar 16, 2008)

electrictim510 said:


> You can also build your own wire rack (spinner) outta a couple 2' pieces of 2x4 a bit of 12/2 and a few staples.. man, those were the days..


Use 2x8 and you don't need the scrap 12-2. What difference does it make? With the wire you are pulling flat on the bottom board instead of lopsided on the scrap 12-2, it's far easier to stack 2 rolls together for homeruns. Or a roll of 14-2 and 14-3 on one spool so you don't have to change when you forget that one paddle fan.


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## 360max (Jun 10, 2011)

bubb_tubbs said:


> I'm not saying you wouldn't claim anything, obviously.
> 
> If all your money is taxable income, you can safely invest it with impunity.
> 
> ...


:no:


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## bubb_tubbs (Apr 15, 2012)

My mutuals have made 14% over the last 7 years. *shrug*


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## 480sparky (Sep 20, 2007)

Well, it appears I need to amend my list.

Advertise only on Craigslist.
Don't bother with permits and inspections.
Hide your income from the IRS.
Lie to your creditors (_if_ you can find any).
Live under a bridge.
Eat CheesyMac and hot dogs.
Keep two sets of books.
Don't pay your bills.
Don't accept any payment method that involves a paper trail.
Don't put your company name on your vehicle.
Forget about purchasing insurance.


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## electrictim510 (Sep 9, 2008)

Sarcasm kicks ass! :lol:


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## Celtic (Nov 19, 2007)

Strap some ladders on, duct tape a cardboard sign to the door, and you are ready to go :thumbsup:


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## electrictim510 (Sep 9, 2008)

Celtic said:


> Strap some ladders on, duct tape a cardboard sign to the door, and you are ready to go :thumbsup:


It would look pretty tacky, but it would totally work! Organization is key..


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## 480sparky (Sep 20, 2007)

Celtic said:


> Strap some ladders on, duct tape a cardboard sign to the door, and you are ready to go :thumbsup:




Pfft... What a hackmobile!


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## erics37 (May 7, 2009)

I don't care what anyone says, I really have a thing for Beverly D'Angelo circa 1983.


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## Celtic (Nov 19, 2007)

480sparky said:


>


The 8 headlights are great for those night jobs :thumbsup:


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## 480sparky (Sep 20, 2007)

Celtic said:


> The 8 headlights are great for those night jobs :thumbsup:



Deer hunting, too! :whistling2:


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## electrictim510 (Sep 9, 2008)

Great deer hunting headed toward Wally World. :lol:


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