Turnkey/Retail Startup: Game plan

MARKETING - Acquisitions

D4D, Bandit Signs, Direct Mail

• Hire a few new investors to drive selected neighborhoods, put up signs, and train them (For a one time payment of $39,999.99!)
• Use app to track addresses and path
• Use software to pull current Tax mailing info
• Send letters/postcards
• VA uses Podio template, answers phones and screens callers
• Analyze deals and filter
• Make an offer
• Schedule visit with seller and contractor
• Make a new offer

Wholesalers (WS)

• Use REILDeals.com (RD) to manage wholesale leads/deals
• Direct WS to neighborhoods we want to buy in
• Share the numbers we need to stay within (purchase + rehab) so WS know how low they need to negotiate
• Give WS tools to quickly send leads or ask questions/guidance on leads
• Have experienced local investor available to filter deals and give guidance
• Schedule visit with seller and contractor
• Make an offer

Prospecting

• Contact companies who have bought a lot of properties and are behind on rehabs
• Contact investors with portfolios of 10+ houses
• Send direct mail to companies
• Call investors
• Get list of properties they own and filter them based on location
• Make an offer
• Schedule visit with seller and contractor
• Make a new offer

REHABBING

• Setup standard templates for A, B, C neighborhoods for Retail and Rental flipping
• Have 1-2 Jedi contractors who can walk in to house and estimate cost through 'The Force' and put together scope
• Create app through RD to create scope and pricing based on selected template
• Submit to Podio for review and scheduling
• Use two different GCs to manage projects A:B and B:C
• Use Podio to keep up to date on project completion for forecasting
• Track rehab steps and create walk through in Podio for team to follow
• Track expenses in Podio per project

TURNKEY

Finding Tenants

• Utilize tenant screening company (starting out)
• Read Brandon's tenant blog post on land lording!
• Create system for tenant calls and response
• Create system for receiving monthly payments

Property Management

• Create CRM in Podio
• Schedule hours on call for handymen
• I'm going to have a real learning curve here lol definitely an area of the unknown. I'll need to hire somebody with experience to join the team.

Marketing

• Use software to find all out of state buyers and people instate who own 3+ houses
• Send direct mail brochure with available properties
• Direct to RD site to purchase? Direct to JenningsHP.com?
• Network with Realtors who were agents of cash buyers on MLS. Offer a fixed amount to realtors for finding buyer plus a recurring % for future purchases

RETAIL

Conventional

• Create floorplan
• Consider doing virtual rendering depending on ARV
• List property before rehab is completed
• After rehab, do virtual tour
• Post before and afters

Seller Financing + Option

• To be determined...

CURRENTLY

We're closing on four houses over the next week. We plan on fixing up 3 of them and wholesaling out the last one.

We've got two GCs. One has standards used by other local hedge funds and is on board with our overall vision for the startup. He wants collaborate on creating systems and the RD applications.

The thought is to create the workflow template and standards then to train the other GC and any helpers we need to streamline the estimates during acquisitions and rehab.

We've got plenty of solid leads to send direct mail to and plan on reaching out to a few property portfolio owners who have houses sitting vacant and won't be able to fix them up for the next few months.

We have sufficient Private money to fund our projects at this stage.

GOALS

• Buy 1 retail deal by end of June through personal marketing
• Buy 2 turnkey deals by the end of June through personal marketing
• Buy 3 turnkey deals through prospects
• Sell 2 turnkey deals by Mid July
• Generate 300 D4D leads by Mid June
• Increase direct mail to 500 every three weeks by Mid June
• Hire VA full time by Mid June (Hope my Mom does well!)
• Have standards established and workflow created by Mid June in Podio
• Analyze, learn, and improve...