Many of you have heard us talk about not being in competition with our customers for houses to rehab. There’s a variety of reasons for this, but the big ones are:
1. The perception that we’d only keep the best deals for ourselves.
There’s certainly some reason to believe that this happens at other companies that we compete with that also rehab houses. Would we do the same? Truthfully, we’ll never know because we don’t have plans to actively rehab houses.
2. It takes a lot of time to rehab houses!
We’re expecting to continue to work close to 50 hours a week providing you all with deals. Adding another 10-20 hours a week on top to rehab each house makes it hard to scale. We’re also a really new company and taking our focus off of our core business seems like a really bad idea.
3. We really do enjoy helping our customers achieve their own dreams related to rehabbing houses.
I coached lacrosse for nearly 15 years and seriously contemplated being a teacher. Mark scores off the charts on his “desire to help others” profile tests. Our position in this market allows us to help new investors and share information among experienced investors.
We’ve been searching for a way to kick of the blog portion of our site and believe that we’ve found it. We’re going to follow an investor along as he rehabs one of the houses we recently offered:
We’ll share as much of the process as we can, through pictures and posts that talk about finding contractors, deciding on a scope of work, choosing colors and more. Once the house resells, we believe that we’ll be able to share fairly detailed financial information about the process, as well. For now, here’s a few “before” photos:
The purchase transaction closes within the next 2 weeks. We expect a few updates before then.