All Forum Posts by: Ajay Panwar

Hi everyone,

I wanted to share my experience with Rent to Retirement (RTR) and ask for advice on what I should do next. I hope my story helps others avoid the headaches I've encountered.

I was referred to RTR back in 2022 and decided to use them for my first real estate investment, a turnkey property in Akron, OH. In April 2024, I finally saved enough money and pulled the trigger. RTR identified a property in Kenmore, an area they said would soon be transformed by the city. My point of contact, Adam, gave me lots of assurances about how this investment would be a great opportunity. The house was sold by Steve Yoak from Yoak Enterprises, and RTR recommended his uncle’s company, KS Yoak Enterprises, for property management. I went through the process, and everything seemed to be in good shape: the inspection came back clear, the appraisal was spot-on, and I was excited to get my first tenant in May.

That’s when the problems started. The property manager, KS Yoak, found a tenant without my approval or background check, but at first, everything seemed fine. I received my first rent check in June, but then things went downhill. By mid-July, I wasn’t getting rent payments, and KS Yoak was completely disorganized. They couldn’t handle the situation, and after months of frustration, I ended up dealing with the tenant directly to collect rent myself.

RTR knew they’d messed up and even paid me some money as compensation, asking me not to post anything negative (which I’m clearly not doing). Fast forward to April 2024: I canceled the contract with KS Yoak and tried to get the security deposit, but they sent it to the wrong address. In the end, I was left dealing with the mess they made.

Now, I’ve decided to sell the property, but it's been a nightmare. I bought it for $135k, and now the realtor is saying I might only get $125k. The basement, which Steve Yoak supposedly renovated, has openings, and there are rodent issues. The air conditioning doesn’t work, the fridge is broken, and the property is far from "turnkey."

I realize I should have done more due diligence, but I trusted RTR, and now I’m in a difficult situation. Does anyone have advice on what I should do with this property? Should I sell it as-is and take the loss, or are there other options I should explore? Any insights would be greatly appreciated!

Thanks in advance!

I use CRPM and I am happy with them. On line portal, tenant login for payment and maintenance request, electronic ledger and reports, vendor pool for everything from turn over to sidewalk shoveling. Great communication via email if there is an issue that requires my attention. Most of my questions are answered in hours. They have a network of lenders, title companies also. 

Hi Terry, I messaged you privately, but yes, it's been hard to get good help. 

I was part of his self-storage income community for a bit. I felt that it was too large of a group so I actually connected with one of his mentees/former content creator at BPCON last year and she started her own bootcamp. Smaller group, more affordable, and very interactive. Lots of networking opportunities and action items. Her name is Bree Hartman.

You could also look at Doorloop, but you've got enough to get an idea of cost-benefit analysis.

Hi Jay,

I'm a realtor in the Cleveland area specializing in west side suburbs and west side Cleveland neighborhoods 

Suburns - Lakewood, Rocky River, Westlake, Bay Village, Avon, Avon Lake, Parma, Berea, Linndale, ETC.
CLE Neighborhoods - Kamm's Corners, Jefferson, Old Brooklyn, Cudel, West Blvd, West Eighties, Edgewater, ETC. 

Let me know if you'd like to start a conversation around how I've helped other investors find and close investment properties.
I can grab some specifics from you and then setup an email campaign to send you listings that meet your criteria and market. 

My sweet spot is 2-3 unit duplexes and triplexes on the west side of Cleveland, but I'm game to help you with any properties you want to investigate. I can help with rent projections, ROI, cash on cash return, and what areas to target or what areas to avoid. Let know if you want to connect.

Thanks,

Burnsy