General Contractor Work in Winter Park (Orlando: home, bankrupt, construction)

[Amas44]

We're thinking of relocating our general contracting co from VA to the Winter Park or Orlando vicinity. Do you think we could find work, or is there already a huge amount of contractors there, with tough competition. We are a Class A contractor originally from NJ having spent the last 12 years in VA.

[annerk]

With what I understand, it's not that easy to get a GC license in Florida. Since the crash of the housing boom there are TONS of GC's looking for business. I don't think would be a smart time to try to start a new business, espcially in an upscale area like Winter Park where there are already have a dozen highly regarded and well established CG's scrambling for work.

[Amas44]

Thanks for your reply. I did do a little research and it looks like FL would take a Class A VA contractor license thru reciprocity (or at least it looks fairly easy considering our experience and classifications). However, your thoughts are interesting. Where we live now is the same (all the contractors are scrambling for work and going bankrupt too). You mention Winter Park being "upscale". Why would that make a difference?

[annerk]

Bottom line, the higher the project cost, the higher the profit generally speaking.

I personally know of two GC's who have gone bankrupt in the past 12 months, and another who hasn't pulled a permit in over 20 months. There is little to no work out there, and most of the work being done is within the more upscale communities where even through the net worth was diminished, they still ahve plenty of money to spend on home improvement projects.

[bclark]

My husband is a general contractor for 30 years in the Orlando area. This is the first time he has no business. The construction business is dried up. Either people can't get financing or they are afraid to dig into their retirement accounts to finance their renovation and remodeling projects. Hope this helps. Good luck!