Richard Murray
Gautier, MS (USA)
Role(s):
Founder/Owner/Principal
True North Property Solutions LLC
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Startup
Location:
Gautier
Industry:
Real Estate
Year Founded:
2018
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
Limited Liability Company
Description:
"True North" was an offshoot of our family run contractor business and comprised of the best group of talented friends a person could ask for. all in our late 40s and 50s, we each wanted to stop doing rehabs for investors and start doing the investing ourselves. I formed this company in an effort to fulfill my dream of investing and they started believing in it as well and are now all with me again.
Currently, we are poised to start a campaign to provide low-income rentals for investors who have been calling daily in need or turn key affordable rental units. This is in reaction to the influx of young skilled professionals coming to Pascagoula to work in the shipyard, which just received the contract for the new class of ship the Navy requires. This along with my own customer request for entry-level houses (below 100k) along with the ongoing demands for affordable housing from Keesler Air Force Base, Chevron Oil Refinery BP Natural Gas and 5 college and Universities, I could easily sell everything I can do; with an exit strategy of reducing price and selling for less to investors or keeping the property and renting it ourselves.
Our goal is to have 3 income streams, Fix and Flip, Wholesale buy and sell, and property management, each doing business with each other and drawing in the customers we need for both supply of houses and purchasing our finished houses.
I believe with all my heart that this will not only make money but will also allow a group of men who have found their own personal paths and direction in life and wish to give back more than they took while here. we hope to do this by incorporating an internship program within True North that will reach out to the communities in greatest need and find young men and woman who have no real direction in life or maybe just needed a chance, and put them on a path to lean real estate investing from the ground up. this will include working on the job sites as well as formal classes on everything we as a company deal with.
This is why we are TRUE NORTH, it is a place we need to find within ourselves in order to know the path we should be taking. It starts the moment we realize this is all temporary.
Status: we are funded for buying the 24 houses we are rehabbing but are in desperate need of working capital so we can upgrade tools and equipment.
we have paid for real estate we can put up we only need about 60k and we have 3 SFR that the lender can be the first lienholder for the duration or the loan, which we need for 12-24 months.
Thank you for reading
Richard Murray