Torcana Ltd? any insights?

Question

Hi everyone,

I am an out of state investor, primarily buying single family house from turnkey company. I came across Torcana, it looks like most of the property have 1% RV ratio? They are in the Tampa, FL market. Does anyone have any experience with them?

Thanks,

RJ

Colin G Murphy · Answer

Hello everybody

Appreciate all the comments on our firm.

@Ruei-Jiun Hung: Great talking to you earlier and hope to have some interesting opportunities to show you very soon.

@Kevin Darrell: Really sorry we weren´t able to meet you this time around - literally any other week in the past couple of months would have been fine, but next week is just completely packed. Hope to catch you again in the New Year!

@Peter Comb, @Chris Battle: thank you very much for this feedback, it means a lot to us

@Michael Haynes: As Peter alluded to, we think there are some great neighborhoods in West Pasco for cash flowing rentals. Some are working class areas, but I would consider most of the neighborhoods we´ve bought in to be lower middle class (nurses, teachers, government workers etc.) Average rents would be in the $1,000 - $1,150 range.

We aren´t wholesalers, so we would not buy a property at $50k and then turn around and list it for $70-80k without doing anything. Our niche is selling renovated properties to investors, particularly out of state and overseas ones. Most of our homes would have new roofs, HVAC, kitchens, floors, paint and updated bathrooms before they were resold. We make our margins on the buy side, not the sell side, so we invest in direct mail campaigns, we buy at public auctions, short sales, wholesalers etc. It´s a full time job :-)

Phil Bach · Answer

I have worked with Torcana in the past and have always had positive experiences with them.  If you are looking for turnkey investing, they are your go-to in the Tampa Bay area.

Chris Battle · Answer

Hi All

I have bought a couple of properties from Torcana and am very happy, both with our investment and the service we received, including after the purchase. When I have had queries, they have been very quick and helpful in their response.

I have no hesitation in recommending them, and have recommended Torcana to personal friends and colleagues

Hope this helps

Chris

Mora Clark · Answer

Hello Everyone, just curious how are things with Torcana at the present time? How are your investment properties doing in that area? I’m interested in the Tampa area as well

Michael Haynes · Answer

Hello BP, I looked at the Torcana site and I would expect it to be selling properties at Retail. Lots of good information and some listings in New Port Richie area where I helped my partner fix up a home for his son. Lots of simple houses on sand dunes. Working class areas. North of Tampa you have lots of lakes, swamps, sand and sinkholes. My friend has four acres just North of NPRichie on a sand dune in the rolling hills. Look at the Zillow.com map...amazing. Must be 100 houses in pre-foreclosure!

http://www.zillow.com/new-port-richey-fl/

Example...There is a small house that was sold to an agent, around the corner from my girlfriend's home in Seminole Heights, next to the Broward Elementary School. I think it had an asking of $92K and an agent bought it for $52K and is selling for $90K with no repairs, as if this is an primo property for a Flip. I think this is the same thing you can expect from Torcana. Go look at all the pre-foreclosures on Zillow and do you own due dilligence. The idea that they specialize in Turn Key properties does not make sense to me as they would be selling at Retail and "Where is the Beef?"

Linda Lai · Answer

Hi everyone who made comments.  It's very helpful and greatly appreciated.

Kevin Darrell · Answer

@Colin Murphy, yes, Kathryn and I exchanged emails and I will be making another trip down in the coming months. It's understandable that there was a conflict in scheduling because as stated it was a last minute personal trip for me.

Looking forward to meeting with you and your team.

Peter Comb · Answer

I haven't used them directly but spoke to them a couple of times as they are focused in what I think are the best areas for cash flow in Tampa. They definitely have the right setup and numbers/location  and for someone out of state or looking for turnkey would  be a very good company to talk to for sure

thanks

Kevin Darrell · Answer

@Linds Lai,  my trip was spur of the moment and  i found out this afternoon that they're not available to meet with me. I know nothing about the Tampa market but there's plenty people on B.P. that do. I'm in my beginning stages of checking things out myself

Linda Lai · Answer

@Kevin Darrell I'm also interested in Tampa area.  I'd like to connect with you and talk about the market.

Torcana Ltd? any insights?

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