Starting a Turnkey Company
I'm in one of the best rental markets in the country... I've been into wholesaling for the last year and have built a marketing structure that I feel pretty good about. (Thanks BiggerPockets podcasts for the tips along the way!)
BUT I had a recent epiphany which made me think twice about what niche I was in... "If I'm wholesaling properties for around $5k/ea and the people I'm selling them to are selling them turnkey within a month after they close and are making $15k+ per house... Should I be wholesaling these houses out or fixing them up and selling them turnkey?"
These guys are flipping houses between 800-1800sqft and turning them out by the dozen like freshly baked donuts at Dunkin.
After speaking with different owners, hearing about their systems, and learning about their business operation I really didn't see any reason I couldn't duplicate what they were doing with a good team.
Here is what I've got thus far:
- I know what neighborhoods investors are buying
- I know what they are buying houses for
- I know what they want to be all in to a property for based on rent rates
- I know most of the materials they use (eg SKUs, colors, prices...)
- I know a several crews who have worked for the hedge funds locally
- And I've got a great foundation built with a solid team of people I respect, trust, and have confidence in to make things happen
We are closing on our first house Thursday and have plans to start construction next week.
There are three more houses we are closing on the 23rd and a couple others in the pipeline.
I really have no idea what to expect, but I feel good about where things are headed. God has a plan for this experience. I'm excited to see where it takes us.