All Forum Posts by: J Lee

So how does one make sure their contractors make good use of time. With the reality that contractors are rotating between a number of jobs. It has also been impressed on me that relying on contractors can take projects 5-7 months (also based on previous experience), while sub contracting and diy can turn a property around in 2 months or so. And what about understanding the costs of materials/supplies? Can you really trust the contractor? They may say "I got a guy for those" but not really pass the savings on to you, rather take it off the top. 

I'm counting each day as a dollar in and dollar out, especially for rental properties. And in addition, we're using lenders, etc where time is literally money.

Hi,

my business partner and I are investors in the Philadelphia metro area and have some ongoing brrrr's as well as flips. We're still relatively new to the game even though we have a few projects under our belt. Our main goal is to accelerate the process of expansion; and one idea is to start taking a more on hands and micro management approach to our projects. While we do still value and rely on contractors for our projects, we would like to eventually be independent for the majority of our deals. We believe this one of the keys to accelerating our growth (not dependent on contractors working multiple jobs, save thousands of dollars which allows us to squeeze more purchases per year, etc...)

Would be great to hear from this network if others have successfully managed their own projects (and if still working full-time jobs while doing so); and what are tips and tricks that were invaluable to them.

Some of the things off the bat I would like to know:

- average price range for services of laborers (Philly market) 

- timeline or schedule on which laborers should be brought in during construction, etc

- best ways to source materials (is it simply lowe's or home depot? Wholesalers?)

- Best construction loans, or lines of credit for materials/supplies (i.e.: Home Depot Credit Card) available? 

And beyond these points - any other related or important information you think I may need.

Thanks for reading and replying, I value you're input!