How many other contractors on here are paid members? Not many! That should show you how much they want your business...
Fleming Project Management started with only one customer in mind- real estate investors. The ABSOLUTE most important relationship to a value-add real estate investor is with their contractor. It is also the hardest to create. We set out to solve that issue.
We designed the business from the ground up to deliver the most value for our target client- residential real estate investors. Our business model actually DOESN’T work for retail clients! And we are happy about that! Several things make us different than the common contractor to make us the right choice for your investment:
Project Manager Vs. General Contractor:
Our role is to represent you on the project. We manage the relationships with the individual trades, create and push project schedules, create and execute scope of work, and keep you informed throughout the process. We align our goals with you instead of trying to eek out the most profit we can on a job.
The pricing model that works best for you:
Contractors generally charge in one of 3 ways: Quote, Time and Material, and Cost+. In a traditional Quote based pricing model, the GC would be trying to maximize the price they can charge you without you going to a competitor, and will almost certainly try to hit you with change orders as the job progresses. Their goal is to create ambiguity to allow room for this. Time and Material gets you closer to the actual “value” of the job, but does not incentivize the contractor to be efficient with either time or materials, and requires a lot of pushing from the owner to stay on schedule and on budget. The Cost+ model is the closest of the 3 to total goal alignment, but it still ties the fee directly to the cost of the job, which disincentivizes budget maintenance.
So we built the Fixed Time Pricing Model. With the FTPM, we will come up with a project schedule, and commit to that time frame. Our fee will be based on that proposed schedule, not the actual close date. What that does is incentivise us to get it done faster. This way, who wins when the job comes in ahead of schedule? EVERYONE! You get the property rented or sold faster, you pay less in interest (or earn a higher annualized ROI on Cash), and you free up your cash sooner to do more deals in a year. We generate a higher margin, free up our team to work on more projects (maybe another of yours…), and get our subcontractors more work, which ultimately means more money for them. We understand that when you make money, you have more capital to invest in another project, which you will inevitably rehire us for, and continue the virtuous cycle.
On top of all of that, our bench of contractors is giving us (and therefore you) their best prices in order to keep receiving work from us. We firmly believe that these savings should pay for our fee and then some vs. subcontracting the work on your own, and you get an experienced project manager dedicated to your project which saves you valuable time. Think- economies of scale through shared resources.
For investors, by investors:
We started in this business building our own portfolio of rentals and flips. As investors ourselves, we know what is important to you, and how to execute to create the most value for you. We have learned a lot along the way and can hopefully save you from some of those lessons we learned the hard way. One example is our “Bulletproof Rental” checklist. Over the years, we have come across some minor tweaks to traditional repairs to greatly reduce maintenance and turnover costs. One example is the trap configuration under sinks. Rather than using the compression fittings most contractors use, we plumb in solid schedule 40 PVC with a cleanout built in to eliminate broken traps, which leads to leaks, destroyed flooring and drywall damage.
At the end of the day, we are very different than your standard contractor, but that’s the point. We are here to create value for you to help you reach your version of financial independence, and achieve whatever your goals in life are.
We operate in Philadelphia, Montgomery, Delaware, and Chester Counties. Some areas we have experience with include Lansdowne, Upper Darby, Springfield, Broomall, Collingdale, Ridley, Crum Lynn, Pottstown, Coatesville, Norristown, Royersford, Downingtown, Kennett Square, West Chester, Conshohocken, Glenolden, Drexel Hill, Clifton Heights, Newtown Square, Malvern, Avondale, Toughkenamon, and many more.
