Turnkey

[Ryan Wagner]

I recently became aware of bigger pockets and it’s a great community for experienced and newbie investors like myself. I have read many posts from people that don’t like turnkey rentals or out of state properties.  First of all I live in California and the price on real estate is ridiculously expensive.  I also have a disability that limits my driving so a turnkey seemed to be for me.

My family and I bought two properties from Profit from Rentals and Justin Ericson.  Unfortunately, we had a theft and vandalism claim and the insurance company left us in limbo for a year and then denied us.  This left us with no cash flow and a vacant and damaged property.  I am on disability so I didn’t have the extra money to repair the rental. The owner Justin has been a tremendous help in not only helping to repair one of our units out of his own pocket, but in finding a lawyer and putting up the money to litigate.Being out of state is scary in not knowing who you can trust.  I think it is rare that a person shows integrity in the way Justin has treated myself and my family even after the sale.I know people have different tastes about turnkeys, but there are a few trustworthy companies out there.

[Marylynn B.]

Originally posted by @Ryan Wagner:

I recently became aware of bigger pockets and it’s a great community for experienced and newbie investors like myself. I have read many posts from people that don’t like turnkey rentals or out of state properties.  First of all I live in California and the price on real estate is ridiculously expensive.  I also have a disability that limits my driving so a turnkey seemed to be for me.

My family and I bought two properties from Profit from Rentals and Justin Ericson.  Unfortunately, we had a theft and vandalism claim and the insurance company left us in limbo for a year and then denied us.  This left us with no cash flow and a vacant and damaged property.  I am on disability so I didn’t have the extra money to repair the rental. The owner Justin has been a tremendous help in not only helping to repair one of our units out of his own pocket, but in finding a lawyer and putting up the money to litigate.Being out of state is scary in not knowing who you can trust.  I think it is rare that a person shows integrity in the way Justin has treated myself and my family even after the sale.I know people have different tastes about turnkeys, but there are a few trustworthy companies out there.

 This is a heartbreaking story!!! I recently liquidated some residential properties and have been in discussions with several turn-key providers.   I have no problem with the provider profiting from  the service they provide, however, I have not seen any stellar deals.  I do think there is some value going with a recognized turn-key versus finding the property manager and broker separately, if only for the extra due diligence and reviews.  

After reading your story I will look Justin up!!