About the Company

Momentum Property Solutions is a real estate investment company that buys homes in need of repair or from owners facing tough situations. The company specializes in rehabilitating these properties to either sell or rent them. With a focus on creating value, they handle the renovation process themselves, ensuring the properties they purchase return to the market in better condition. Jordan and Melissa aim to continue expanding their rental property portfolio while also profiting from the sale of flipped homes.

Since their founding in 2018, Momentum Property Solutions has evolved through various challenges. In the early days, Jordan and Melissa had minimal experience in real estate. They took on extensive renovations, learning through trial and error, which allowed them to develop a deeper understanding of real estate investment.

Idea Behind Company

The Fulmers' transition into real estate was sparked by a coworker who left his job to run his own successful business. Inspired by this example, the couple began exploring entrepreneurship. Melissa, influenced by books like Rich Dad, Poor Dad, quickly embraced the entrepreneurial mindset and steered the couple toward real estate investment.

Although Jordan initially wasn’t as enthusiastic, a conversation with a coworker about rental properties piqued his interest. The idea of rental income paying down a mortgage while generating cash flow became appealing. After discussing it with Melissa, the couple decided to dive into the world of real estate investment together.

They realized that to achieve financial independence, they needed a scalable business model. Real estate, particularly investing in distressed properties and transforming them into valuable assets, fit well with their long-term goals.

Creating the Company

The couple’s journey into real estate began with buying a rental property from Melissa’s aunt. They faced early challenges like structural problems and costly repairs but used these experiences to grow their expertise. One of the biggest lessons they learned was how to accurately estimate renovation costs and future property value, essential skills in their business.

They quickly realized that buying distressed properties could be risky, but over time, they developed the confidence to assess deals more accurately. The process wasn’t always smooth, with some underestimations leading to difficult conversations with sellers. However, after several projects, they became better at budgeting and managing renovations.

Through perseverance, Jordan and Melissa built a more efficient process for acquiring properties, learning from their mistakes along the way. These early challenges laid the foundation for the company’s future success.

Launching the Business

Their first deal involved a rental property they bought almost turn-key, which they rented out immediately. However, as they sought to expand their business, they realized they needed more creative financing methods to grow faster without exhausting their savings.

They dove into learning about creative financing options like lease options and owner financing, which allowed them to acquire more properties without depleting their funds. Convincing homeowners to trust these less traditional methods was challenging, and they heard “No” often, but with persistence, they began to gain traction and helped several homeowners in difficult situations.

Jordan and Melissa also experimented with various marketing strategies to find deals. While traditional methods like direct mail yielded some success, it was inconsistent. After meeting other investors and learning about cold calling and SEO, they adjusted their approach, eventually using digital marketing tactics to generate consistent leads.

Earnings

In 2021, Momentum Property Solutions earned approximately $160,000, primarily from flipping houses. The company currently averages a deal per month, contributing to their growing cash flow. While their rental properties bring in $2,000 in monthly income, flipping houses offers larger, one-time capital boosts.

Jordan and Melissa have also invested in PPC advertising and SEO to drive traffic to their website, with each closed lead generating an average profit of $10,000. Their goal is to create more consistent income and possibly transition into full-time real estate investing. Looking forward, they plan to diversify their revenue streams by leveraging affiliate marketing and further optimizing their SEO strategies.