BIG NEWS FOR IDO!

Amazing efforts through the years and couldn’t be happier for you !

James….

You never cease to amaze me !!

Congrats Buddy !!

4 acres… I see a pond and a pool!

Fantastic….Well deserved

Congrats! It’s a well-earned expansion.

Congrats James. A lot of hard work over many years. It has been many years since EFN.

Sweet , good luck to you and your crew !

Congratulations! Much deserved & well earned!!
Looking forward to many more great productions from everyone at IDO.

A long time ago you introduced me to the Mississippi (Moving Waters Guiding) on Pool 4…We struggled through a windless 100+ degree day…seeking refuge at the old Pickle Barrel…I though hmmmm this is a very sharp determined guy. Invited me to the Electric Angler and encouraged me to start Guiding etc… Congratulations James! You’ve worked hard through a lot of adversity to succeed… Good News!
I just missed the filming on the Fox River by a couple days…been having a ball there for the past few weeks!

Awesome and congrats to James and IDO!

You’ve come a long ways since starting, I think I’ve seen every episode, but who cares about a live audience? Keep doing great, relative, and timely episodes. That’s what counts.

congratulations thanks for all your vids an tips i always dreamed being a fisherman for a living not quite there yet

I thought an update on this project was past due so here’s the latest.

For the last 8 weeks I’ve been working with the GC to get to a sworn construction statement. Let’s just say that process has been long and frustrating.

Long story short costs have exploded for nearly all materials. For example, the steel needed to complete this build went up $100,000 since last fall and to get to that number I had to make some major compromises in the materials being used. That’s not a typo. $100,000 in 3 months.

Concrete, asphalt, site prep, electrical and plumbing bids were WAY above initial project estimates pushing our projected build costs over original budget by $250,000… and we hadn’t even touched estimates related to finishing the interior.

So, I made the tough choice to pause this project. Will building material prices suddenly drop in the near future? I doubt it. But I also can’t justify building anything at a time when costs are rising faster than the Mississippi River after a hard spring rain.

If anything related to the build changes I’ll be sure to share it here.

Wow I knew materials had gone up but damn! Those numbers are crazy. Sorry to hear this James, I’m sure that had to be a terribly tough decision for you to put this on hold. I’m also sure you made the right choice and that it will work out for you.

God works in mysterious ways, watch the perfect building will show up for lease soon.

Very cool.

John Rasmussen wrote:

Wow I knew materials had gone up but damn! Those numbers are crazy. Sorry to hear this James, I’m sure that had to be a terribly tough decision for you to put this on hold. I’m also sure you made the right choice and that it will work out for you.

Once I took emotions out of it… it was an easy decision.

James Holst wrote:

<div class=”d4p-bbt-quote-title”>John Rasmussen wrote:</div>
Wow I knew materials had gone up but damn! Those numbers are crazy. Sorry to hear this James, I’m sure that had to be a terribly tough decision for you to put this on hold. I’m also sure you made the right choice and that it will work out for you.

Once I took emotions out of it… it was an easy decision.

Have you thought about trying a crowdsourcing initiative? Not sure how big the IDO fanbase is, but, you’ve got 90k subscribers on YouTube, $3 a piece and you’re to $250,000. Maybe offer a guided trip to the most generous donor or do a raffle or something?

Sorry you had a setback, hoping the best for you and the IDO team!

That’s too bad, but I don’t blame you one bit. Supply and pricing of virtually all building materials, especially steel and wood, are insane. I’ve heard that structural steel is out 6 months or more right now. Some projects slated for this year may not get their structural iron. Sure hope this craziness ends soon.

luttes wrote:

Have you thought about trying a crowdsourcing initiative? Not sure how big the IDO fanbase is, but, you’ve got 90k subscribers on YouTube, $3 a piece and you’re to $250,000.

With respect… if a deal isn’t good enough for me to spend my money on it… I’m not going to ask anyone else to spend their hard earned money on it.

Do know I appreciate you taking the time to offer the suggestion.

Totally understand James. These companies think money grows on trees!

James
I understand completely how much you have pumped your heart and soul into IDO to grow it to what it is today. Its an unfortunate setback and hopefully the days are sooner than later to resume some normal pricing. Quarter mil increase on your budget sounds about right to what I am experiencing on the residential side. I have two homes on hold and a couple other projects pending – all for the same reason – Material costs have increased beyond a reasonable amount and we need to wait until the market readjusts. Some think that its a ridiculous expectation, but history will repeat. Will it drop to 2019 prices or lower??? Most likely not, but many things will get better.

Best of luck with the growth pains

mxskeeter wrote:

Totally understand James. These companies think money grows on trees!

One of the things I’ve learned about being in business is that deals are everywhere. If one doesn’t work out just the way you want it to work… walk away… and keep looking. The right one is just around the corner. For that reason I don’t see this as a set back. I see this as me making a good business decision. Had I let emotion and “want” drive the decision making process and gone through with the deal… that would have been a setback.

James Holst wrote:

<div class=”d4p-bbt-quote-title”>mxskeeter wrote:</div>
Totally understand James. These companies think money grows on trees!

One of the things I’ve learned about being in business is that deals are everywhere. If one doesn’t work out just the way you want it to work… walk away… and keep looking. The right one is just around the corner. For that reason I don’t see this as a set back. I see this as me making a good business decision. Had I let emotion and “want” drive the decision making process and gone through with the deal… that would have been a setback.

Very wise perspective!

The build is on hold, but do you still have the property?

Smart choice. Your business will be better for it in the long run. It’s better to walk away or hit pause than make a financial mistake.

Many people are finding themselves in a similar situation on a smaller scale with residential builds. The perfect storm of Covid supply shortages coupled with historically low interest rates and billions of dollars inflating the economy have brought many to this same point.

We’ve got a spot to build a new home and stand to make money selling our current house but are choosing to wait. With the increases I’m not slapping an additional $100k onto the build cost. Interest rates are low and drive the demand to spend, but it doesn’t change long term valuation. Locally here we are running into issues with people wanting to build and take advantage of low interest rates, but costs are absurd. Banks are pulling back as the valuation of a 4 bedroom 2 bath home in rural MN with mid-tier finishes is tough to value and finance at $500,000 even if it now costs that to build it. People are going to end up being upside down in their homes again like the last housing market collapse, but for different reasons this go-round.

I do work for the local yard here in town on the side. 2×4 studs are at $8 and they are hard to even get. Treated lumber is worse. They sold a semi load of 4×4 posts in less than 48 hours last month to contractors and average Joes walking in the door. The waiting list for durastrand and other sheathing products is like Packers season tickets.

James Holst wrote:

I thought an update on this project was past due so here’s the latest.

For the last 8 weeks I’ve been working with the GC to get to a sworn construction statement. Let’s just say that process has been long and frustrating.

Long story short costs have exploded for nearly all materials. For example, the steel needed to complete this build went up $100,000 since last fall and to get to that number I had to make some major compromises in the materials being used. That’s not a typo. $100,000 in 3 months.

Concrete, asphalt, site prep, electrical and plumbing bids were WAY above initial project estimates pushing our projected build costs over original budget by $250,000… and we hadn’t even touched estimates related to finishing the interior.

So, I made the tough choice to pause this project. Will building material prices suddenly drop in the near future? I doubt it. But I also can’t justify building anything at a time when costs are rising faster than the Mississippi River after a hard spring rain.

If anything related to the build changes I’ll be sure to share it here.

James, were you planning a Pre-Engineered metal building (PEMB) or a conventional steel building? Only curious because I’m working on the design of a project that is a combination of both PEMB and conventional. Overall, the project is somewhere in the range of 8,000-10,000 tons of steel. We are currently working to shift more elements from conventional steel (mill shapes) to pre-engineered elements. If you were planning on a conventional structure, there may be some savings to recoup by moving to PEMB, but ultimately you aren’t likely saving the $100k steel increases.

Feel free to message me if you would talk about this more offline.

jake47 wrote:

James, were you planning a Pre-Engineered metal building (PEMB) or a conventional steel building?

The original plans were for PEMB but the GC did investigate alternatives.

This is called “Building back better”… or not at all.

I got a barn up here I can remodel for ya if you want to move your Mega-Corp up here.

The worse job in the world is the one working for the bank. As you say something “right” will come along.