Turnkey Philly, any experiences?

Question

Anyone out there had any dealings with Turnkey Philly?

So far they've got a single, albeit very positive, review on Turnkey Reviews.  But I'm a little hesitant to go with anything based on a single review because, hey, who knows, right?  It could just be a shill; we've all seen that plenty of times (no disrespect aimed at the company, obviously).  So, has anyone had any dealings with or worked with them in any way?

Looking forward to hearing what people have to say.

Frank Mangiaracina · Answer

I would NOT invest with Turnkey Philly. I recently purchased a home that was rehabbed by them and later learned that they did not pull the required permits from Philadelphia for the plumbing and electrical work. Now I'm having significant plumbing problems. If a rehab company doesn't pull the required permits, it's putting its investors at risk for liability and for being blacklisted by Philly's licensing and permit department

Alex Deacon · Answer

I dont know much about this company but I do the same thing here in the Pittsburgh market as they do in Philly.  I find the deals ,rehab them and then sell some turnkey and keep some for my self. We do 4-8 deals a month. I would be concerned if I were you and I would take a trip out there to see the properties and meet the folks. also talk with at least 6 other clients that they currently have and take a look at how those portfolios are performing. If you were going to buy here in Pittsburgh I would tell you the same thing. you dont know me and you need to do your due diligence.  After 15 years of this business model I have clients that trust me 100% but I had to earn that trust with a positive experience and profitable properties.

Amar P. · Answer

I am a beginner and would like to start with turnkey. This is my first post. I have been doing research, reading  books etc for last couple of months. Looks like this thread is from 2017. I was wondering if additional BP members have experiences with this company.

Thanks for sharing your review of the TCS.

Daniel P. · Answer

@Elizabeth Tin Just got back from vaca and replied to your message. I'm more than happy to chat about my experience - the great, the not-so-great, and everything in between.

Elizabeth Chang · Answer

@Daniel Pagan I also just had initial call with them and hoping to get my first property in Philly soon. I also live in NY, so would love to connect and learn more about your experience with TCS investment! Just sent you a colleague request!

Daniel P. · Answer

I know this is an older thread, but I felt I could contribute a small amount to the conversation as an investor with Turnkey Philly (now TCS Investments). I'm hoping to write a detailed review of my experience someday soon for BP. For now I'll note a couple of things.

I won't go too much into the numbers here but PM me if you have questions!

a. I've closed on and rehabbed a handful of properties with this company. Sure there have been a few bumps in the road, but nothing that wouldn't normally have been encountered if I went solo on these projects.

b. The folks I interact with directly have been a pleasure to work with. In my experience they are , patient, flexible with requests, knowledgeable, and have a passion for delivering a solid product for their investors.

c. We've yet to go over budget on any of our rehabs and the properties have so far appraised for our projected ARV if not higher.

d. Couple of rehabs took a bit longer than expected but TCS was able to make up for this on more than one occasion.

e. I'm seeing an average cap rate of around 8% (average for the properties I've acquired through TCS).

f. They no longer operate as Turnkey Philly as of over a year ago. They were acquired and now operate as TCS Investments.

g. Leasing department was very thorough with tenant search and selection and were great to work with.

Like I said, I try to avoid posting too many details about myself on searchable pages (and I need to get back to work!), but I'm more than happy to discuss more details in a PM or over a phone call. But overall I'm very happy with my decision to invest with TKP/TCS and thoroughly enjoy working with the people running the shop.

Hope this helps at least a bit.

Feel free to PM me for details. More than happy to provide additional general, high-level feedback in the thread.

Alex SImon · Answer

@Nick Glatzer  No luck vetting them at all.  I had the initial phone conversations with them and then I couldn't get anything reliable, so I just stopped trying with them.

Nick Glatzer · Answer

@Alex SImon

Any luck vetting this company? I also came across them and would love to find out if anyone has any experience dealing with them.

James Wise · Answer

Any google reviews &/or BBB reviews?

Alex SImon · Answer

Okay guys, thank you both for replying but I'm really just trying to vet this specific company, which is why I made the thread asking about the specific company and whether anyone had dealt with them yet.  Once again, I'm putting this out there to see if anyone has specifically worked with Turnkey Philly.

Turnkey Philly, any experiences?

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