Rent to Retirement Updates

[Jonathan Shnoravorian]

Hi all,

I'm looking to get into turnkey rentals - I have had an initial phone call with Zach and Eric, and Eric so far has been responding to my questions via email. I've read a lot of good reviews on Zach and his company on here, so I'd like to hear more from him as well if I decide to move forward. I also have another turnkey company that I'm interested in that was recommended to me by a friend. He's doing well with them so far. So I'm currently trying to figure out who would fit my goals and criteria the best. For everyone who has invested with Rent to Retirement, how has it been going? Are you continuing to invest with them? Any tips you would recommend or that you wish you knew beforehand investing in turnkey? Looking to hear some feedback, thanks all!

[Zach Lemaster]

@Jonathan Shnoravorian

I'm going to help you get the answers you are looking for & connect with some people that would be able to answer your questions. @Joseph Schweizer @David Hoshi @James Lee  can you assist Jonathan?

Please also see some BP links below to discussions on this topic.

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/co/RentToRetirement

https://www.biggerpockets.com/forums/92/topics/893621-rent-to-retirement-review?highlight_post=5222888&page=1#p5222888

https://www.biggerpockets.com/forums/311/topics/915728-experience-with-rent-to-retirement-turnkey?page=1#p5345200

https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences

https://www.biggerpockets.com/forums/12/topics/533693-anyone-worked-with-renttoretirement-turnkey

https://www.biggerpockets.com/forums/92/topics/581730-rent-to-retirement-zach

https://www.biggerpockets.com/forums/48/topics/874096-reviews-on-r2r-and-nch?page=1&utm_source=Iterable&utm_medium=email&utm_campaign=Transactional:%20topic_notification&utm_content=Transactional#p5123754

https://www.biggerpockets.com/forums/311/topics/883772-turnkey-investing-renttoretirement-feedback-reviews?highlight_post=5171720&page=1#p5171720

https://www.biggerpockets.com/users/ZacharyCole/references

[Joseph Schweizer]

Hi @Jonathan Shnoravorian!

I closed on a property in October 2020 with the help of Rent To Retirement. The whole process from intro phone call through closing was great. Also, the experience owning the property is going as expected so far. My goal for 2021 is to save capital and make another investment towards the end of the year. 

I would be happy to discuss more!

Best Wishes!

[Chase Maglangit]

@Jonathan Shnoravorian

I'm currently under contract for 2 properties. I've only heard good things on hear about them... they are more of like a "middle man" that has the network in a bunch of markets. They are great so far and seems like everyone in the network is pretty solid. The return emails, phone calls, never leaving me in the dark. I will definitely post an update with my first property and the process as soon as I get a tenant in there so I can include all details from beginning to cash in the bank! Aside from them as a company. I haven't seen ROI's like that anywhere.. for me personally I'm after cash flow and principal pay down. If the numbers are what they show in their pro formas then id say it's hard to beat. Here in Hawaii you will get negative cash flow for pretty much anything you purchase! Lol. Appreciation is a different story though down here.

[Zach Lemaster]

@Chase Maglangit

Thanks for the kind words!  We do our best to set our investors up for success.  Just to clarify one of your points, some of our properties we have partnerships involved in different locations, and some properties we own & operate 100%.  The duplex you are buying in Indiana is an example of one of those properties that RTR owns 100%.  Our expectation is same for all properties even if we do have partners involved.  We want to ensure the homes are in good condition & leased to a well vetted tenant.  Please also understand that in rental real estate not everything will work out perfectly, but we do our absolute best to control the many variables rental real estate has to set you up for long term success.  That is why it's vitally important to build a well rounded portfolio with multiple streams of income, which is exactly what you are doing.  You're off to a great start.  We look forward to building a long term business partnership with you!

[John Bianco]

@Joseph Schweizer

Hello I’m looking to do the same thing. What area did you decide to invest in with rent to retirement and how is the cash flow? Thank you!

[Joseph Schweizer]

Hi @John Bianco!

My property is in Kansas City, MO and my cash flow is around $230 per month.

[John Bianco]

That’s awesome thank you! I’m super excited to start this! 

[David Hoshi]

@Jonathan Shnoravorian

Here's a quick overview of my past experience with Zach and his team.  This year I personally along with my wife closed 2 deals with Zach and his team and I'm currently working on a third deal with a good friend of mine.  Based off of those first couple sentences you could assume I have pretty good experience dealing with the company so far and you would not be far off base.  That being said it took me over a year before I choose a turnkey company to work with and there were a lot of emails and calls going back and forth.  During that year Zach and his team were always super responsive and understanding of me taking my time.  When it was time to pull the trigger they were with me the whole way and giving me advise as we continued to make progress towards closing.  Lastly one of the best parts of working with this group are the resources.  They can connect you with lenders, insurance companies, PMs and inspectors, your team in which ever state you decide to invest in with them is set. 

Sorry for the long reply but hope this helps.

Best regards,

David

[Chase Maglangit]

Hey everyone, I just wanted to give an update about my rent to retirement experience! So I recently closed on 2 properties in Indiana on the same day! So adding to the last post it was an overall great experience.  During the inspection process I did find some things I wasn't too comfortable with and was sort of having cold feet.  After speaking with the contractor and doing some research on the few items that bothered me, I began to realize that those few things weren't major.  The contractor was able to provide me with photos and he was able to answer all my questions honestly.   For someone that hasn't been able to physically see the property I felt comfort with his honesty and how he was able to address the remaining items.  Throughout the process I did learn that I need to be on top of emails and make sure to respond to everyone involved at all times.  The lenders I used Nations lending was great at handling my docs and responding very quickly.  The insurance company that rent to retirement recommended was affordable and gives the option to adjust your price with coverage to what I wanted (National real estate insurance group) they too were very quick with their responses.  Both property management companies that I was referred to so far are good (pillario in indianapolis, goebel realty in vanderburgh) I will know more once they both have tenants in place and I get to see what type of lease they have in place.   If anyone has any questions about anything feel free to reach out. I didn't want to go too into detail on here.  Great overall experience and I'm already searching for another property with rent to retirement! ALOHA gang! 

[Zach Lemaster]

@Chase Maglangit

Thank you for the candid & positive feedback in regards to your experience working with us!  I'm sure the BP community appreciates hearing about your process.  Your first couple of properties are definitely a learning experience, and I'm very happy to hear you gained some investing knowledge through this process.  In my opinion, there is no better way to learn than actually investing firsthand!  Now we can focus on scaling your portfolio to achieve the passive income goals you have set.

We look forward to the continued long term partnership working with you!

[Jonathan Shnoravorian]

Glad to hear some other positive experiences! 

[Romi Gaddy]

@Joseph Schweizer  I would love to know more about your experience and how you started.

[Joseph Schweizer]

Hi @Romi Gaddy!

My experience purchasing my first real estate investment with the help of RTR was excellent.If you had specific questions about my experience with RTR, I would be happy to answer.

I got started with learning about real estate towards the beginning of 2020, joined BP around April/May 2020, started having weekly meetings with a 4 person mastermind group, reached out to RTR in August 2020 and closed my first investment in October 2020. 

I would be happy to discuss more!

Best