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

I recently saw this article about appraisals. The basic idea is that appraisal rules where changed in the boom market to prevent abuse and now those changes are hurting appraisals in this market. The rules where created to isolate appraisers from the influence of real estate pros like brokers, lenders etc.

During the boom times, real estate pros often exerted pressure on appraisers to give good appraisals to prevent deals from failing.

In the down market the rule change created a problem. To insulate themselves from lawsuits, lenders are ordering appraisals from appraisal management companies. These companies isolate banks from individual appraisers and reduce the risk of lawsuits.

Because these appraisal management companies are often national, they don’t have appraisers in every area so the appraisals are often NOT reflecting the local real estate market.

Read more to and know in advance if your lender is using an appraisal management company.

Everyone knows the holidays are a great time to give back and share your knowledge and experience with the next generation. Friday , Wendy, Leon and I had the pleasure of talking to the next generation of Philadelphia contractors. We walked them through one of our projects on a class trip and talked to them about the business of contracting. There are some great lessons in this video for them and for you. Please leave a comment.. Happy holidays.

During this time of year it is important to reach back and help. We are giving back everyday by training the youth to strive to be better as contractors, as businessmen and as leaders. Here’s how….

We jsut sold this triplex to a Philadelphia Real Estate Investor and we are about to start the rehab and again you get to watch the process. This triplex will be great cashflow when done and we expect to be completed in 2 months.

If you are looking for a Philadelphia real estate investment, a contractor or an investment team, Call us today, we are very experienced helping investors get to the money

This is the week 2 update on the property again with some comical arguing between myself and Leon. All for you to enjoy while you make money. Victor Milbourne

We are taping this video while people are working so there is hammering, arguing. The amazing thing is that in one week there are new joist and floor in the kitchen, new framing almost done,, plumbing installed and more. So enjoy.

BTW If you are struggling with a contractor about a rehab or starting to invest and need a team, or looking for wholesale deals, give us a call. We know how to fix Philly row houses on time and on budget

This is week 1, the contractor has removed most of the debris and completed some of the demo. This houe is in bad shape, the floor in the kitchen and second floor rear are gone and the rear wall holding the hous up is badly damaged. Victor walks you thru thsi rehab and explains what is going to happen to this house.