Company History / Resume

In early 2003, Leon Victor Whitmore III and Joel Thompson, two young entrepreneurs in Tulsa, formed a privately owned real estate investment company, Precision Equity LLC. The vision was to create one of Tulsa’s largest and most successful real estate management and acquisition firms. The goal was to first acquire single family homes and then quickly move to multi-family and commercial properties.

With a strong partnership and unstoppable determination, they borrowed money on credit cards to purchase their first two single family homes. They developed a system for purchasing homes, rehabbing them and selling them for huge profits. With each new deal, the experience and expertise of the market grew. During their first year, they were able to raise over one hundred thousand dollars in cash and bought their first 48 unit apartment complex.

After managing this complex successfully for six months increasing both occupancy and income, they were able to flip this property for over two hundred thousand dollars in profit. They continued buying more property and with each deal they gained new market knowledge and valuable business experience. Some projects produced more value than others, but they were always able to apply strategies and lessons learned to the next project or business venture.

Vic and Joel knew that if they were to maintain this rapid growth and be successful competing with larger companies, they would need to develop a system for effective property management. In 2007, Precision Equity introduced its in house designed property management system P.R.I.M.E. With this system, they have continuously outperformed larger management companies maintaining below market vacancy rates of less than 5% and even hitting 100% occupancy at their multi family properties. It has established the foundation in which Precision Equity will grow its multi-family operations.
With solid processes in place, an experienced and driven team, and a developed system for delivering excellence to their tenants, Precision Equity expanded to offer a full menu of multi family services. In late 2006, Multi Family Realty Advisors was formed offering many different multi family services including maintenance services, eviction processing, management personnel staffing, make ready services and brokerage marketing. The desire for the future is to be a comprehensive one stop shop for all things relating to multi-family.

In addition, Precision Equity saw opportunity in the residential maintenance and construction industry. In mid 2007, they acquired co-ownership and management of Accurate Service LLC. Under their leadership and combined with the expertise and experience of John Lazear, founder and co-owner, Accurate Service provides complete construction, maintenance and rehabilitation services to owners and investors of single family and multi-family units in and around Tulsa. With competitive bids and a customer satisfaction guarantee, Accurate Service has been able to increase market share and profits over the last six months. Accurate service is poised for a tremendous amount of growth over the next few years and expects revenues in the $1 Million range in five years.

Since inception in 2003, the company has purchased more than $26 Million in total assets through February 2008. Through solid management ability, keen analytical skills and valuable acquisition experience, the company is poised for rapid growth and high profitability over the next few years. They are on track to achieving their ultimate goal of becoming a billion dollar real estate investment firm..