Custom Residential Architects Network

I now have 7 projects put on hold due to a few issues but primarily the loss of value in investment portfolios for construction funding. 

I remember the "Great Recession" and what I did to keep my firm open. What are some strategies, new markets, or passive income have some of you explored for when income from architectural projects won't be enough?

When I had my firm for 12 years, I found that when things got slow for me some other firms were busy. You may want to reach out to other firms, maybe larger firms to see if you can do contract work for them. This works good on small projects that are a nuisance for firms doing larger projects. The work varied from just drafting support to project architect responsibilities. This worked out for me when 2008 came and projects got extremely scarce, I was able to close my practice and got hired on full time with a firm I had been doing contract work for and they hired my employee as well. Hopefully 2008 does not happen again.

I also did work for engineering firms on projects that required a small architectural component to them.

Also look to contractors. They are always looking for architects to produce plans. Be prepared to get small residential projects, decks, etc. from them. But it may develop into a lasting relationship and possible larger projects.  

I now have 7 projects put on hold due to a few issues but primarily the loss of value in investment portfolios for construction funding. 

I remember the "Great Recession" and what I did to keep my firm open. What are some strategies, new markets, or passive income have some of you explored for when income from architectural projects won't be enough?

Jefferey has some good ideas.  I have worked for contractors and other firms.  My current firm is seeing a small up-tick in projects on the board.  Most are large apartment complexes for well leveraged Developers in Texas.  We see growth in affordable housing and a downturn in luxury products.  Hope this helps.

When I had my firm for 12 years, I found that when things got slow for me some other firms were busy. You may want to reach out to other firms, maybe larger firms to see if you can do contract work for them. This works good on small projects that are a nuisance for firms doing larger projects. The work varied from just drafting support to project architect responsibilities. This worked out for me when 2008 came and projects got extremely scarce, I was able to close my practice and got hired on full time with a firm I had been doing contract work for and they hired my employee as well. Hopefully 2008 does not happen again.

I also did work for engineering firms on projects that required a small architectural component to them.

Also look to contractors. They are always looking for architects to produce plans. Be prepared to get small residential projects, decks, etc. from them. But it may develop into a lasting relationship and possible larger projects.  

I now have 7 projects put on hold due to a few issues but primarily the loss of value in investment portfolios for construction funding. 

I remember the "Great Recession" and what I did to keep my firm open. What are some strategies, new markets, or passive income have some of you explored for when income from architectural projects won't be enough?