Many building contractors set out to offer the broadest range of services possible. If they can build it, they will take the job. But Johnny Moseley, who focuses exclusively on renovating properties for multifamily living, has recently reached a significant milestone in the industry.
As the CEO of Moseley Multi-Family, Johnny Moseley has overseen a dedicated focus on turning properties into smaller homes for different families. Since its foundation in 2007, the company has renovated over 21,623 apartments and condos. The total makes Moseley Multi-Family the largest multifamily renovation contractor in the United States and illustrates a significant demand and prosperity in the sector.
“We aim to transform and modernize multifamily living,” Moseley said. “Our vision to become the largest multifamily renovation contractor on the planet keeps things really simple for us. We have to focus on training, customer experience, and expansion with our national clients.”
The founder puts much of his company’s success down to its single-minded approach to the multifamily market. For property developers in the sector, multifamily renovation is said to offer accelerated rent growth, increased net operating income (NOI), and greater asset value. As profits are made, developers can reinvest in more property to build new communities for local families.
“We don’t have the distractions of serving more than one sector or niche,” Moseley explained. “Nor are we focused on big projects. We focus on the relatively small project size of $20,000, which is the average cost of an apartment. Completing these renovations in large numbers has allowed us to reach the milestone we’re at today.”
The achievement comes following the COVID-19 pandemic, which did not directly threaten the ‘essential’ construction industry. Instead, it undermined the foundations of its business through residents’ delayed interest in moving homes. Coming through that 18-month period with Moseley Multifamily’s workforce at full strength is one of the CEO’s most notable achievements.
Moseley’s company now faces the new threat of supply chain disruption. The CEO believes it to be the single greatest challenge in front of the construction industry today due to its effect on timeframes and the reliability of supplies. Nonetheless, the renovator has taken measures to ensure its continued success beyond the 20,000 milestone, including pre-ordering materials and expanding supplier lines.
“If we couldn’t get materials, we would not have been able to put work in place to earn revenue,” Moseley said. “That would have been a death blow.”
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