Quantum Builders LLC

This is a 1st of a 5 part post (one every other day) that will examine how to find a contractor for your real estate investing team. Picking teaming members is very important for a number of reasons and you need all types of team members but the one team member many people struggle with is finding a contractor.

We believe that a contractor is like a partner while the property is being rehabbed, because your contractor will be making decisions (sometime with your input and sometimes without) that can effect your investment and your profits. So picking a competent contractor is important and picking one that has experience has an investor maybe more helpful. Anyway here is the 1st tip.

1.    Don’t select a contractor based solely on price.
In this world you get what you pay for. Many times my company has been asked to bail  out an investor because his contractor was unable to do the work he agreed to do.

One of the biggest problems with choosing a contractor based on price is the level of both his subs and other labor. If the contractor is the lowest price, he is probably using sub-contractors and laborers that reflect his pricing which costs you both money and time in the long run.

So thats the first tip, look for the others.

Be success

Temple University Student Housing
The owner is looking to get into apartment buildings and is liquidating his portfolio. This property is an awesome cashflowing property with almost $1,000 a month in CASHFLOW and over $220,000 in EQUITY. Buy this property for almost half its Value.

Address
1736 N Gratz St.
Philadelphia, PA 19121

Cross Street
Montgomery

Deal Type
Single Family

Settlement Date
4/30/2009

After Repair Value
$400,000

Purchase Price
$210,000

Rehab Price
$0

Assignment Fee
$12,000

Net Profit
$11,793

Annualized Return
19.1800%

Status
AVAILABLE

Great completely rehabbed 3/1 for sale in South Philly. Property has central air, new, plumbing, new electric wiring, already pre-wired for cable, refrigerator, stove and dishwasher. Owner is looking for a quick cash sale within 30 days . The owner has two appraisals that value this home at 100K. He is willing to sell for a huge discount to a cash buyer. Call 215-473- 1598 today. This deal will go fast.

The third tip is simple but important. Check the Crew.

3.    Check the Crew
Does the contractor have the people to do the work you need done? Is he using a licensed plumber that will provide your with a plumbing cert? Is his crew large enough to complete the work you need done? Does the contractor have multiple crews if there is an issue? I know an investor whose project was stopped because the contractor had family problems and didn’t have backup. The project took twice as long to complete.

Also, does the contractor have a company with other people that can keep you posted. There is not worse feeling than not being able to talk to your contractor and having no one else to call.

Be A Success

One of my favorite tips is this one. Not only should you do your homework but the contractor should do theirs and be prepared to demonstrate capability. Have they done the type of work you need done? Have they been on time and budget? All are important questions.

2.    Do Your Homework
Your contractor obviously should be licensed and insured. You should also get references from every contractor and when possible see his work. Does the contractor have testimonials from satisfied customers? Does the contractor have pictures and descriptions of previous work? These are just a few of the question you should ask any contractor

This is one of my favorites because a while ago, we decided to be overly transparent and post our work on the Internet. All of our videos are posted on this site and watch for more including testimonials from our clients.

Be a Success

Hey, TV star! I had a pretty good Thanksgiving, thanks. I hope yours was great, too!

I’d only be too happy to be used as a reference; you don’t even have to ask for it “humbly.” Actually, I thought of sending you another thank-you a little while ago, so I’ll do it now: I’d like to once more express my very deep gratitude for what you did on Osage. That thing just didn’t want to die, but you painstakingly got it done, going so far, I’m sure, as to absorb more than a reasonable amount of cost and trouble, yourself. You insulated me from the contractors—as much as I’d let you and less than you would have liked—and showed me that I could pretty much just tap into your experience and wherewithal and leave everything in your capable hands. Thanks so very much!

Many thanks again,
Serge

We got a call from the folks at Flip This House. They saw our videos on YouTube and we decided to tape our answers to the application and have some fun answering the questions. We’re gonna send them the application and the video, don’t know how they;ll react but you know us.

Let us know what you think, how we can improve but bottom line we are who we are.

I apologize if you got multiple updates the software we use burped again. I apologize.

This is the first update for this deal since Vic and Leon where out in the blizzard. An investor bought this deal (for a steal) and now we are in the process of rehabbing it. The demo is mostly completed and we are now updateing the electric and putting in new systems in the 2nd floor apartment.

Checkout this video

BTW – I have some very exciting news. Today I got a phone call from the executive producer of “Flip this house” Matt Levine. They are interested in doing a whole season of 15 houses with my team. I’m sure I will be working on some of the houses that you guys own in the process. Thanks for your support