My small company is start-up oriented. As you know, the DC Metro area is expensive. Our target market is low to middle market, single family homes, townhomes or condos. Our current annual projection is to renovate three homes and acquire a new rental property. Rehab budgets on our projects range from $15,000 on a rental property to $120,000 on a full rehab. Typical project timeframes generally run from 3-8 months. Finally, supply chain struggles are improving. Our goal is to turn around our projects reasonably fast so we can get paid as quickly as possible and use those profits towards our next rehab. This ensures that we and our contractor teams have a steady supply of work.
To generate value, we focus on aggressive project management coupled with the use of highly skilled and professional independent contractors to complete our renovations. We employ proactive marketing tactics to pre-sell our properties during the rehab stage instead of waiting until the project is complete. This gives us a head start that often enables us to sell our properties before the paint has even dried. Successful execution of these strategies relies on the high quality of work performed by our contractors, which is why we put such a high premium on finding the best contractors in the area and then developing long-term, mutually beneficial win-win relationships.