We decided earlier this year that the next step for our business was to move into multi-family properties. That includes everything from a duplex to an apartment complex. The buying process on these properties is different from the single family homes we’ve been purchasing so far. We knew one of us would need to focus on that exclusively to grow that part of the business, so we decided to restructure our business. We’re in growth mode.
Our Son Joins the Business
All our kids have been watching us grow Best REI for the past few years, and it’s been an exciting ride for all of us. A couple months ago we started
visiting with our son, Eric, about joining our business as the project manager. A couple of weeks ago, he finally accepted our offer, so they’re in the process of moving back to Central Arkansas.
As the project manager of Best REI, he’ll assist us with acquisitions. As leads come in, Eric will return their calls, schedule appointments, calculate repairs costs, and make offers to purchase properties. Once an offer is accepted, he’ll work with the title company to close the deal, create a scope of work, obtain contractor quotes, and arrange the beginning of work once the property closes. Finally, he’ll oversee the rehab of the home until it’s ready to stage and sell.
His goal is to complete 2 to 3 rehabbed homes per month in 2020. In just one week of training, he’s well on this way to crush that goal! And, that will free Roger to focus on growing our multi-family business. Welcome to the team, Eric!
We Hired our First VA
At the same time, we hired a virtual assistant to work full-time handling our inbound and outbound calling, with a focus on generating leads of homeowners interested in selling their homes. Jessie started working for us a couple of weeks ago, and we couldn’t be more pleased with the results. Even though Jessie doesn’t work in our office, we consider him to be an important part of our team. Welcome to the team, Jessie!
One More New Team Member
Eric’s wife, Amy, is our favorite daughter-in-law. And, it’s not just because she’s our only daughter-in-law. Her primary goal during this period of her life is to nurture their two daughters, Olivia and Octavia, and she’s already great at this. But, we wanted her to join our team as well. Amy is an amazing baker, and everything that emerges from her oven is delicious. I asked her if she would be willing to bake cookies, brownies and other delicious snacks for our Open Houses, and she’s agreed to do so. Our Open Houses are going to be so popular with Amy’s Baked Delights offered. Welcome to the team, Amy!
Growing our Business
We’re really good at flipping and selling single family homes at this point. People often ask us if we focus on one neighborhood or one area. The answer is no, we’ll buy any home that we can make a deal with. We’ve done several in the Benton and Bryant area. And, we’ve completed several in the North Little Rock and Sherwood area. One of our first houses was in Maumelle. And, many of our favorite homes were in Little Rock. That doesn’t rule out any of the neighboring cities we haven’t worked in yet. We just haven’t found a deal there yet. Call us if you need to sell your home – anywhere!
Roger has been learning about multi-family property transactions this year, so he’s ready to grow that side of our business. If you have a multi-family property – anything from a duplex to an apartment complex, we’re ready to buy those as well. Give us a call!