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1,000% Growth in Multi-Family Property Renovations
About this Episode
Company Stats
- Revenue: Multiple seven figures and growing.
- Growth Rate: Nearly 1,000% growth over the past three years.
- Industry Recognition: Ranked in the top 500 on the Inc. 5000 list and the second fastest-growing company in their space in Ohio.
- Founded: 2018.
Episode Highlights
✅ The right market makes a difference—shifting from real estate flipping to multifamily property management resulted in nearly 1,000% growth.
✅ Systems and automation enable scale—streamlining operations through software allows rapid expansion without inefficiencies.
✅ Private equity partners should align with your vision—choosing the right investor is more than money; it's about strategic alignment and shared values.
Episode Summary
In this episode, Tyler Dunagin, CEO of TurnServ, shares how his company achieved exponential growth by shifting focus from residential real estate flipping to multifamily property management services. With a strategic approach targeting property management companies rather than individual renters, TurnServ has expanded rapidly, adding new locations every two months and securing a spot among the top 500 fastest-growing companies on the Inc. 5000 list.
Tyler discusses the importance of operational efficiency through systems and automation, which has allowed the company to handle hundreds of apartment turnovers monthly without logistical bottlenecks. He also dives into the journey of securing private equity backing, emphasizing the importance of partnering with investors who align with the company's vision and values. TurnServ’s growth story is a testament to the power of market selection, streamlined processes, and strong leadership.
Notable Questions We Asked
Q: What was the key factor in TurnServ’s rapid growth?
A: The shift to targeting property management companies instead of individual renters, combined with robust systems and automation.
Q: How does TurnServ optimize operations for efficiency?
A: Through scheduling automation, mobile workforce management, and real-time data tracking to ensure seamless service delivery.
Q: What role did private equity play in TurnServ’s expansion?
A: It provided growth capital and strategic oversight, helping the company scale without compromising operational efficiency.
Q: Why is the multifamily property management market more scalable than real estate flipping?
A: Multifamily properties offer predictability and repeatability, whereas residential flipping involves too many variables and unpredictability.
Q: What advice do you have for entrepreneurs seeking private equity funding?
A: Focus on finding a value-aligned partner, be prepared for a lengthy due diligence process, and ensure strong financial reporting systems.
Chapters
00:00 Intro
00:18 Company Stats
00:40 Explosive Growth and Market Strategy
01:40 From Real Estate Flipping to Multifamily Market
04:13 Core Services and Innovations
07:21 Private Equity and Expansion
10:29 Connect with TurnServ
Listen on:
Add us on:
#PropertyManagement #BusinessGrowth #Entrepreneurship #ScalingBusiness #RealEstateInvesting #PrivateEquity #Automation #BusinessStrategy #FacilitiesManagement #ApartmentTurnover
Hosts & Guests
No transcript available for this episode.
