#34 Solving Construction inefficiencies, team scalability, and overcoming financial challenges with Mike Kaeding

The Money Mindset Mentoring Podcast

In this episode, Steve Hamoen and guest Mike Kaeding delve into the challenges and opportunities in the construction industry. They discuss the need for change, cost reduction, and scalability, as well as strategies for hiring and financing. They also explore the importance of tenacity, mindset, and perspective in overcoming obstacles and achieving growth.

Michael Kaeding

Links: https://www.norhart.com/ https://www.facebook.com/mikeskaeding https://www.instagram.com/mikekaeding/ https://www.linkedin.com/in/mikekaeding/ https://twitter.com/mikekaeding https://www.youtube.com/@Norhart

About Michael Kaeding:

🚀 Redefining Real Estate with Heart and Innovation at @Norhart As the CEO of Norhart, a pioneering $200M construction company, my path in real estate is deeply personal and driven by a mission to make a significant impact. My journey began in the heart of a family business, founded by my parents. But life took an unexpected turn when my father passed away shortly after I joined. Suddenly, I found myself at the helm, not by choice but by necessity, with the immense responsibility of leading a business in an industry I was still learning about.

🏗️ From Adversity to Innovation This transition wasn't easy. We faced significant challenges, including a moment when the city briefly shut us down, which shattered my world. Yet, it was in these moments of struggle that Norhart's true potential was born. Without preconceived notions of "how things are done" in the construction industry, we started solving problems naively but effectively. This approach became our magic – it's what sets us apart.

🏡 Beyond Building Homes – Building Futures and Tackling the Housing Crisis Today, Norhart has grown from 80 to over 1,000 units, creating $230M in assets. This growth is a testament to our dedication to change, efficiency, and sustainability in construction. We're not just constructing buildings; we're constructing a better future, addressing the US housing affordability crisis with innovation and determination.

💡 Join Us: Where Investment Meets Impact With @Norhart Invest, we offer more than just a 10% annual return. We offer the opportunity to be part of a movement reshaping the landscape of US housing. It's an invitation to invest in a future that's built on the foundations of resilience, innovation, and a commitment to making a difference.

👉 Be Part of the Change Are you ready to join a transformative journey that's redefining the real estate industry? Click above on ''Visit my website'' to learn more about how you can join Norhart's mission to reshape US housing.

(0:00) Introduction and Welcoming Guest, Mike Kaeding (2:19) Discussion on the Need for Change and Cost Reduction in the Construction Industry (7:19) Addressing Inefficiencies and the Need for Scalability in Construction Teams (13:21) Coaching Session: Attitude, Approach, and Activity in Construction (16:03) Hiring Strategies and Dealing with Shortages in the Construction Industry (21:27) Financing Construction Projects and Overcoming Financial Challenges (24:36) Long-term Strategy for Construction Projects: To Keep or to Sell? (27:47) Key Takeaway: Staying the Course in the Construction Industry (28:39) The Importance of Tenacity and Mindset in Overcoming Challenges and Achieving Growth (30:04) Steve Hamoen on Perspective Change: Making Small Problems by Finding Bigger Ones (31:17) Closing Remarks and Thank You from Steve Hamoen to Mike Kaeding