All Forum Posts by: Account Closed

@Alex Craig and @Hadar Orkibi

I completely agree that all businesses will make mistakes and learn from them.  I am not shaming LR Turnkey or their management partner, Hoffman.  I am simply giving my experience to date and this stems from things the PM can control.  

Hadar, you are right.  The PM team is a phone call or email away, but that is not my complaint.  You are also correct that the owners are ultimately responsible for managing the asset.  Not to get into too many details on a public forum, but this is where I had less than desirable experiences.  

Alex, I sent you a message if you'd like to discuss.

Assuming you worked for this money, keep doing what you're doing except do it faster.  

Rinse and repeat.  

Disclosure:  Little Rock, AR is my hometown and I have purchased a turnkey rental there in the past.

Be very careful where you purchase in Little Rock, AR.  You need to go there and visit all of the neighborhoods mentioned above.  I can vouch that @Alex Craig has quality turnkey properties and a seamless process to purchase.  But, from my experience the property management side of the business needs improvement.  I personally know a few others that have had problems with their property management partner.  Also, make sure you are profitable with rent on the lower side and try to keep your tenant turn down (as much as you can control).

@Christian Cambridge

No wait time required.  Additionally, you should have learned from the mistakes (if any) on the first purchase and apply them to the second.  As long as this purchase is within your strategy then go for it.  

May I ask why Atlanta as opposed to purchasing the second in Houston?

@Steven G. - I think @Damon Bodine has a virtual meetup.  You might want to reach out to him.

@Rodrick Darnell Toney - Following this thread, as I am interested in another PM in Little Rock, AR.  

@Stasia White @Michael G. - I'm in.  I'm near Brooklyn Museum.

@John Huberty and @Adam Chudy - which property management company do you use?

$80k - $90k will get you "c-class" at best.  I.e. - section 8.

Make sure you know exactly where you are investing.

Will you be able to outperform your $80k in the market that's 100% passive?  I do not know your age, risk tolerance, etc, but here's what $80k can turn into.

$80k in S&P 500 for 30-years:  https://cutt.ly/nrNzN86

Can you save up real estate funds?  Do you have emergency funds for your personal life and real estate?  Consider everything before pulling your $80k in retirement funds.