Top 5 Turnkey companies

[Tim Hamby]

Just joined BP 2 days ago. Very busy with work and family life, and don't have much time for doing a ton of research.  Looking for opinions from members of top 5 Turnkey providers.  Just invested with Memphis Invest about 3 months ago, and have been very happy, but looking to diversify.  Thanks in advance for any suggestions. Please list 5 most reputable/successful TK providers in your opinions.

[Chris Clothier]

@Tim Hamby - Nice to see you here on BP!  Seeing my name pop up on here a few times, I thought I would chime in with the same advice I would give you on a private call if you had asked.  I am assuming by diversifying you are looking to other markets.  Two things I love about your question.  

1.  You understand the power of a portfolio.  You need to continue to build your passive portfolio, no matter the pace.  It is important to collect assets while you can and along the path of your plan and goals.  So I am glad to hear that you are actively looking to keep building.

2.  Diversifying into more than one city is always going to be positive.  Doesn't mean one city is always a negative, but looking to spread your portfolio beyond one city is almost always a good idea.

As for Memphis, I think @Curt Davis laid out some very quality companies.  I am going to make a small assumption here and give advice for other cities.  As you know we are operating in Dallas and Houston and have laid the groundwork this year to open the 4th market in the 4th qtr and possibly a 5th market early next year.  Like you, we too need to diversify to continue to meet our plan and goals!  We have learned a few things now about how to properly research and go into a new market quickly and successfully.  I am also thinking that you would like to hear about your options in other markets as well and I connect with a lot of other companies.  We also hear a lot from investors so  here are a few companies that I know and what I know about them.

@Gregg Cohen  at Jacksonville Wealth Builders in Jacksonville, FL.   A really quality company that we have masterminded with and shared best practices between us since 2010/2011.  They have a good company with good properties and they work hard on the service end for their clients.  

@Mike D'Arrigo  operates in two markets, Kansas City and Indianapolis.  I have only heard good things about Mike and his company and cannot recall any negatives.  He has been on BP for a long time and has an excellent reputation so definitely worth speaking with if either of those markets were on your list.

@Ken Corsini  operates in the Atlanta market and although I am not sure if he is still in the Turnkey business, I do believe that he is and I know that he has always provided high-quality properties.  I am in an entrepreneur mastermind with Ken and I have recommended his company and team multiple times to people interested in the Atlanta area.

@Jeff Ader is another really good guy who has been to our offices multiple times to learn from us and share best practices.  He operates in Indianapolis and stays very small on purpose.  He is not doing a high volume of homes.  His main business in property management and I think they are managing close to 2,000 properties, but you could confirm that with him if you wanted.

@Alex Craig  owns one of the Memphis companies but also operates in Little Rock.  That was a market we were exploring for growing into and I went to him for advice and insight on the market.  Big kudos to him for laying out what he knew and any pitfalls that he had encountered.  I think he has some really good stock over there and operates a solid company.  I am always going to recommend companies that share freely amongst one another best practices so long as they are following them.  So again, if Little Rock were on your radar I would talk to Alex.

I know several of our clients have worked with Spartan out of Birmingham.  We have not heard anything negative from any of those clients.  Although they are a relatively new company, I am friends with one of their owners who worked for our company in the past and from what I know they are doing some really good things down in Birmingham.  You heard from one of their owners up above.  

So there are some options for a number of other cities and a few companies you could always research.  I would never steer business away from my company, but I have an abundance mentality and a ton of respect for those people I mentioned on here.  So long as that is the case, I happily recommend any of them if you wanted to diversify into cities that we are not in.  If you ever have questions or want a second opinion on anything, I am always available to help.

Best - Chris