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….

Philly row homes are small, the bathrooms are small, the closets non-existent so when you rehab them you get a chance to try and fix those programs. In this video, Vic has Noelle help plan the layout of the new bathroom

BTW, deciding how to implement new functionality in an old house requires experience and planning. If you are looking for an experienced contractor, a project manager, or an experienced investment team that can help you get to the money. Call us today 215-473-1598 and ask for Wendy

Vic & Leon argue again about who will pay for a tub, who is responsible for picking up the tub and of course they argue about money. This (as always) is very funny but ultimately the Philly real estate investor wins

Enjoy

If you ahve had arguments with your contractor, if you are looking for someone to argue for you or better yet looking for an experienced investment team. Call us today at 215-473-1598 or email qtm-builders@gmail.com

Victor has a new real estate investor client, the deal is to rehab this dilapidated Philadelphia house into a brand new house in 30 days. Watch the progress of this rehab and witness how a major rehab is converted from neglected eyesore to beautiuful brand new row home and how the investor makes 30k.