An interview-based program that dives into the investor mindset when challenges arise. We explore the decision-making process of successful real estate investors, learn about their mistakes and how you can make the right decisions to make you successful.
Episode 16: The Investing Musician: Be Prudent Selecting Contractors
Quamon began investing in real estate not with the hope of becoming a multimillionaire, but as a means of creating another diverse and stable income stream where he can put money in an asset he has more control over and continue to follow his dreams as a musician. In his first multifamily acquisition, a duplex in his hometown of Fort Worth, Texas, he learned that working with contractors can be a tricky process if you have never done it before. When you have renovations or repairs you want to be done, whom should you call? How do you know if the quotes they are giving you are reasonable? How do you know the recommended scope of work is reasonable? Quamon shares his story about the first multifamily duplex he recently bought, including a few words of advice he learned from an experienced lender he met at a real estate networking event.
Advice to Listeners: Regardless of your start, there is something you will learn in real estate investing every day so you should not let fear deter you from taking action. Even if you are on the sidelines, you are probably losing money. The money you have sitting in the bank is depreciating in value. You are better off putting your money in real estate investments because the long-term trend is appreciation, and everyone needs a place to stay.
About Quamon Fowler:
Quamon Fowler is a man of many talents. He is known around the world as a Jazz Saxophone musician of more than twenty-six years and has published 7 CDs. He is also an educator, professor, entrepreneur, and real estate investor on his way to amassing a portfolio of multifamily properties. He is the author of The Christian Musician and the host of the Productive Podcast, a podcast that focuses on helping people achieve higher levels of productivity in areas they are most passionate about.
Book: The Christian Musician: Learn What Your
Real Gift Is and How To Succeed With and Beyond
Your Music - http://bit.ly/qaudiobook
Investing Musician Brand
Dion Huey is a Co-founder at Delta Bridge Capital LLC which is a multifamily real estate investment company that invests in value-add apartment communities in the United States. He earned a master's degree in finance at Northeastern University in 2017 and worked on multiple business syndications as a financial analyst for Boston-based Plateau Asset Management which is a private equity search fund that has $30 million AUM. In 2017, Dion was an analyst on a deal team that advised Citic Investment Bank's Hong Kong private equity division on the syndication of a $1.5 billion acquisition of a hotel in New York. He is currently the host of The Multifamily Investor Situation Room Podcast.
In 2010 he co-founded Rocky Mountain Education and Technology Group which is a Beijing-based education services company that has serviced more than 5,000 clients. In his spare time, Dion enjoys reading, martial arts, lifting, and learning foreign languages. Contact the author at firstname.lastname@example.org.