Hello, friends! We hope your new year is off to an amazing start. Now that 2020 is underway, we wanted to share with you our JWB vision for this year and some things we’ve got in the works to serve you even better.
While we already have a top-notch team (with a lot of awards to show for it), we must work hard to maintain that standard of excellence. We can’t just achieve a one-time high and then slack off. On the contrary, we want to step it up even more. That’s what we plan to focus on this year – how we can really fine-tune our business to raise our clients’ experience to the next level.
The Vision in Focus
To kick off the new decade, our focus is more on quality, not quantity. At first, as with all new businesses, we worked hard to grow the company. Now that we’ve achieved significant growth, we’re ready to zero in on our operational efficiency and fine-tune our services to create a seamless experience for clients and residents.
From One Type of Growth to Another
When we review our numbers over the last several years, we’ve experienced a huge volume of growth. This is exciting to see our historical progress. This was possible because we’re continually improving, becoming more efficient, and maximizing new technology.
Now we’re ready to shift that growth. We’re ready to grow internally to support our existing systems. Our clients don’t see some of our back-end workflows, yet these internal processes impact the overall client experience. We’re taking a deep dive into these this year. As we become more proficient with some of our technology tools and software, we’re able to start using those to a greater advantage. Our goal this year is that every internal process will be evaluated and streamlined to serve our clients better.
Goals to Target
While our main focus is on refining our operations, we still want to grow the business. Our goals are a little different this year as we look at creating long-term efficiencies:
- Homes: In 2019 we bought 592 homes; in 2020 we plan to buy 688 homes.
- Land: We want to build up 2-3 years of lot inventory in the pipeline. This will help us keep up with the demand for homes. Other companies often run out of inventory, so we’re trying to avoid that situation. This strategy allows us to always have a product available for our clients.
In 2019, our private lending was $13.5M. Our aim is $10M in 2020. This goes back to focusing on more efficiency. We’re working on finding the most cost-effective options of financing.
In 2019, we built 433 new homes. This puts us the 6th highest of NE Florida builders. Our 2020 goal is to build 400 new homes. Again, we’re striving toward more efficiencies. We’re looking at ways we can be flexible as the cost of materials fluctuates, while keeping our prices as consistent as possible for clients.
In 2019, we jumped 26% with 975 leases. Our 2020 goal is to sign 1,350 leases.
We plan to leverage our software this year so our team can spend less time on administrative headaches and more time with people. We’ll be able to offer a more personalized experience for each client or resident that walks through our door.
Another rising project we’re excited to be a part of is the Downtown Jacksonville redevelopment efforts. We want to be a part of the community push to revitalize the downtown neighborhoods, renovate abandoned buildings, and spur growth in the area.
After all, this is our city. We can’t stand by and do nothing when it’s within our power to help make it better. This benefits our clients as well – we’ll have more sources of inventory; we’ll build more strategic partnerships with area engineers and contractors; and we’re working together to improve property values in the area as a whole.
If you’ve been following us on our blog and social media, you may have seen our plans for shipping container housing. We’re exploring this investment route as a new way to offer housing to more residents near downtown.
In 2019, our nonprofit arm JWB Cares raised $95,000, up 28% from the previous year. Our 2020 goal is to raise $120,000 for charitable giving. A large portion of this comes from our annual fall golf tournament. We’re considering a spring fundraiser this year and we’ll have a new dedicated website for the nonprofit soon, so be on the lookout for details.
The last two years we’ve donated a home to a deserving Wounded Warrior. In 2020 we’re exploring the possibility of expanding this to build and donate two homes. We’ll break ground soon on the first home, an exciting step towards changing someone’s life forever.
We’re looking at new ways our clients and residents can get involved in these efforts. We’re thankful for you and excited to have you as a part of our team this decade!
Keep up with our ongoing updates at facebook.com/groups/rentalpropertyinvesting. When you’re ready to talk, reach out to firstname.lastname@example.org or 904-677-6777 to continue the conversation.