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Updated about 7 years ago, 10/08/2017
Recommendations on Turnkey providers
Hello fellow BP members!!
I wanted to check if anyone has had any experience working with any of the following turnkey providers:
1) Missy MsCall- Hammonds and her turnkey firm "Retire With Real Estate" in Ohio
2) Nick McKinnis - McKinnis Real Estate LLC based in Kansas City
3) PARC - based in Indianapolis
I am out of state investor based in Chicago looking for buy and hold turkey projects with atleast 10.0% COCROI. All of these providers have properties and experience to meet my requirements.
I wanted to check if anyone has had experience working with any of these providers and if you could share your experience/insights with me.
Thanks in advance for your help
Tushar Shah
Originally posted by @Tushar Shah:
Hello fellow BP members!!
I wanted to check if anyone has had any experience working with any of the following turnkey providers:
1) Missy MsCall- Hammonds and her turnkey firm "Retire With Real Estate" in Ohio
2) Nick McKinnis - McKinnis Real Estate LLC based in Kansas City
3) PARC - based in Indianapolis
I am out of state investor based in Chicago looking for buy and hold turkey projects with atleast 10.0% COCROI. All of these providers have properties and experience to meet my requirements.
I wanted to check if anyone has had experience working with any of these providers and if you could share your experience/insights with me.
Thanks in advance for your help
Tushar Shah
I am not too sure of any of those companies. I have never heard of them. However, I would suggest you read the following, which will help you on your search.
The Best Types of Markets for Profitable Turnkey Properties
and
I've had a good experience with PARC. search my other posts on them to see
I can speak to
He is a member of our organization MAREI. I have never heard anyone say anything bad about his turn key properties he offers. He does work lower and to mid range, just let him know what type of property you are looking for.
I have sold him numerous properties and been a private lender on a few of his deals.
So far, everything the past few years, everything has turned out ok.
@Kim Tucker Thanks Kim - who specifically are you talking about? Are you talking about McKinnis Real Estate?
Are you looking into any specific markets or just open to anywhere the numbers make sense?
Hey Tushar, I just closed on a property through Nick. From the beginning of the process, he was very transparent, thorough, and responsive to all my questions. I flew out to KC and met him and he took me to view the property and meet the tenants, all while telling me a little more about the area and the market as a whole. Also took me to some of the other properties they're working on, but it never seemed to me as a sales pitch. They're smaller, but seems like they're really ramping up their business this year. I also met him and his wife out for drinks--super friendly and nice. Would definitely recommend him to anyone moving forward.
I can't speak to the other guys on your list though. Good luck!
Hi All,
I am thinking of a turnkey as well, so based on the conversation it seems Nick McKinnis - McKinnis Real Estate LLC based in Kansas City is a good one? how was Parc? i am interested in Indianapolis.
Regards,
scott
I would recommend going with a property manager that is not the turnkey provider.
@Tushar Shah - I'm in Indianapolis several times per year and haven't heard of the company you mentioned. I've been with a TK in Indy for 4 years now with good results. Make sure to take up the offer of David D'Ambrosio and talk with him on his experience. Indy is a great city to invest in! I can share my experience also if you'd like.
@Hank Keller Thanks Hank. I am visiting Indy this weekend and meeting up with PARC and FS House. I will keep you posted on how my trip goes.
@Tushar Shah I have heard good things about FS Houses from a friend but have never used them personally.
I have 2 houses with Nick in KC. It has just been a short time but throughout the process he has been extremely responsive, which is what I want being an out of state investor. PM me if you would like to discuss in greater detail.
@Jerod Creese Thanks Jerod. This is good to know. I will for sure take up your offer on connecting with you and discuss your experience in greater detail.
Hi @Tushar Shah. How did your scouting trip to Indy go? Any feedback on the TK providers you met with, or general observations on Indy? Thanks!
@Jerod Creese - Thanks Jerod, this is helpful... ! I sent you a PM. Would love to talk more details. Thanks!
I just closed on my first turnkey property in KCMO! I also flew over to KCMO to take a look at properties as well. I met with Nick and a bunch of other companies like USREEB. I would really like to see the numbers you are using to calculate your CoC, 10% is great if you are looking at houses in good areas. From my speaking with other investors, getting into turnkey business is not as lucrative as a couple of years ago. Back then, 12% CoC was normal! Anyway, good luck on your investments!
Originally posted by @Lane Kawaoka:
I would recommend going with a property manager that is not the turnkey provider.
Hi Lane - What would you say the pro's and cons of not using the turnkey providers PM are?
@Brandon Leong Hey Brandon - thanks for the message. Which turnkey company did you end up going with and what has been your experience so far with them? What are the returns you getting on your investment?
@Tushar Shah- Indy could be good but I would look for turn around from MACK investors in your backyard.
Vivek
Interested on this chain as well as I'm looking for turnkey providers as well. So, how are the Kansas City, Indy and Ohio good markets or is one better than the other?
Originally posted by @Saurab M.:
Interested on this chain as well as I'm looking for turnkey providers as well. So, how are the Kansas City, Indy and Ohio good markets or is one better than the other?
There are many different Turnkey providers out there. I always suggest making sure you find someone who does not just throw the word around. Turnkey is a type of investment, not just a way to describe a property that looks good in photos. Ideally, the company will own, renovate, and manage the properties all in house, under one roof.
Try looking at:
The Best Types of Markets for Profitable Turnkey Properties
and