Executive Summary | Charlotte Custom Home Builder - Build On Your Land | PresPro Custom Homes

NAVIGATION

BUSINESS INFORMATION

PresPro Homes is an award-winning residential and multifamily builder that bears over two decades of experience in the construction industry. The company is focused on the first-time homebuyer and first move-up markets but also enjoys a strong presence in the mid-market, luxury, and custom home sectors.

Headquartered in: Charlotte, NC Metro Area
Regional Offices: Atlanta, GA Metro Area

KEY ACHIEVEMENTS

  • 90+ homes currently under construction as of 1/1/21.
  • Inventory of 260+ units as of 1/1/21.
  • Current # of Employees: 17.
  • Current # of Sub-Contractors: 149.
  • Outstanding reputation and brand recognition within the market.
  • Winner of several nationally recognized awards.
  • Trusted Sub-Contractor network.
  • Qualified team with extensive industry experience.
  • In-house dedicated Sales and Design team.

COMPANY PROFILE

Headquartered in the rapidly growing Charlotte metropolitan statistical area (MSA) of North Carolina, PresPro is a residential single-family and multi-family home builder. The business’s primary focus is the first-time homebuyer and first move-up markets, including constructing homes for “build-to-rent” investors and individuals who are moving out of rentals and purchasing their first home. The company also offers new construction custom home services.

Inc. Magazine recognized PresPro as one of the 500 fastest-growing private companies in the United States in 2014 and one of the 5,000 fastest in 2018, 2019, and 2020. In 2019, the company ranked as the #709 Fastest-Growing Business in the U.S., #34 Fastest-Growing Construction Company in the U.S., #6 Charlotte, and #18 in North Carolina. The company was also recognized as a member of the Charlotte Business Journal’s Fast 50 in 2014, 2017, 2018, and 2020 ranking as the #1 fastest growing company in the Charlotte Metropolitan area in 2017.

PresPro is in a prime position to continue its accelerated growth, having identified five housing markets within 150 miles that are undersupplied in addition to the growing demand for homes in the Charlotte MSA.

PROJECTS

PresPro classifies homes into four categories: First-Time Homebuyer, First Move-Up, Mid-Market, and Luxury-Custom. The demand in the First-Time Homebuyer and First Move-Up sectors is strong, consistently averaging over 85% of homes built and 75% of gross revenue. With this in mind, the company has emphasized its focus on the $325k and below price point, further bolstering its already solid financial position. At this price point, PresPro is able to create velocity with its cash and turn equity two and a half times per year due to its experienced management and efficient build cycles.

PresPro offers more than 50 different home plans. Architecture styles include craftsman, contemporary, modern, and traditional homes. The company also offers plans for duplexes, townhomes, and small multi-family buildings.

Within the Luxury-Custom sector, PresPro contracts with individuals to build high-end homes with forward-thinking designs. PresPro’s wide variety of quality, modern designs differentiate the company from its local and national competitors.

2020 SALES VOLUME

SUBDIVISIONS

The company has had success growing its new construction services by purchasing land to develop its own subdivisions. The subdivisions are constructed to include homes within specified price points and home plans. Approximately 80% of homes built are speculative, 15% presale, and 5% custom. Speculative homes still offer custom elements, allowing buyers to select wall colors, fixtures, and additional finishes.

HOME PLANS

FIRST TIME

MOVE UP

MID MARKET

LUXURY CUSTOM

CONSTRUCTION VOLUME

KEY EVENTS

AWARDS

OWNERSHIP

Owners Josh Collins and John Sears are both experienced entrepreneurs having established numerous successful companies dating back to 2004.

Founded in 2009 during the housing market recession, PresPro was positioned to fill the affordable housing gap for first-time homebuyers in the Charlotte MSA. The gap was created when national homebuilders divested from the area during the recession. With an abundance of foreclosures in the region and across the country, the company was dedicated to servicing the financial industry’s needs, reconstructing distressed properties for sale or rent.

Through relationships Collins and Sears forged with banks, capital groups, and asset management companies in the real estate owned (REO) industry, PresPro expanded its reconstruction services nationwide. The company’s given name is short for Preservation Professional Services, derived from “property preservation,” a term banks use for maintaining distressed real estate assets.

As the company grew and the economy rebounded, PresPro expanded operations from focusing on home reconstruction to ground-up new home construction and later launched a custom home division. The company later launched a custom home division. The owners note that PresPro has taken a new meaning, referring to its name as being short for Prestigious Properties.

Now, after over a decade in the construction industry, PresPro is positioned for expansion. In 2020, the Executive Team crystallized their Core Values [1] and Purpose [2], which quickly became an invaluable reference point for the company’s direction, decisions, and operations. With the visionary leadership of this Executive Team and the addition of Project Managers and Office Staff, PresPro is prepared to meet the demand of the industry.

MANAGEMENT

VP of Operations: John Lambert
VP of Construction: Andrew Waltz
Director of Operations Atlanta: Denny Dunn

CORE VALUES

OUR FUTURE

3 YEAR

  • Future Date: 2024
  • Revenue: $87MM, Profit: 28%
  • Measurables: 300 Homes in 3 MSA’s including ATL
  • 295k avg Sales Price
  • Solid Executive Team
  • Add a VP of Finance
  • New Offices
  • Strong Company Culture
  • Great Place to Work
  • Respected in the Community
  • Reputable among Trades and Realtors
  • Known for Forward-Thinking Designs
  • EOS Implemented in all Locations
  • QuickBase End to End System in All Locations
  • INC 500 for Growth
  • Active in CommunityProjects

10 YEAR

  • Future Date: 2030
  • Revenue: $300MM
  • Measurables: Avg 50 Homes/yr in 20 MSA’s
  • Total Goal: 1,000 Homes Built per Year