All Forum Posts by: Douglas Skipworth

Thanks, Jay.  

I'm excited to now be actively involved in the BiggerPockets forum community (I've been a passive BP participant for several years...mostly just reading the blog posts each day).

As an investor, Realtor, and property manager, I have strong opinions about owning rental properties.  I intend for my comments to be thoughtful and courteous, although they will admittedly be biased towards what I believe and have found to be true.

I appreciate others like you rounding out the dialogue with insights and observations that I don't have.  That's why I think BP is a great place for newbies and veterans alike!

Best regards,

William,

I just saw this blog post here on BP.

http://www.biggerpockets.com/renewsblog/2015/08/25...

It's an alternative to turnkey investing that works well for investors who are willing to be a little more hands on.  (Whether they admit it or not, we have found that most BP members are hands on investors!)

All the best,

William,

Dean Letfus and George Chang above did a nice job answering your question about how turnkey providers make money.

Just to be clear, I would not say that most turnkey providers leave investors hanging.  My point is that turnkey providers usually make significant amounts of money by selling houses that they own, which leaves the investors with less equity in the property (i.e., more risk).

There are alternatives to turnkey for foreign investors, but they oftentimes require more involvement on the part of the investor.

Hope that helps.

Great question, William!

It is our experience that most turnkey providers extract all of the profit from a deal for themselves and then leave the investor with a high-priced asset that is almost always impossible to sell at or above the original purchase price.  

Said another way, we find that most turnkey providers are selling houses at or above retail prices, which leaves the investor with no downside protection.  We think that is a major pitfall or disadvantage with the turnkey market.

Personally, we believe in partnering with like-minded investors who want to pay a normal real estate commission to a licensed agent for helping them find discounted properties. It might be old fashion, but we think it is more of a win-win since it fosters a long-term relationship for investors who want to buy, hold, and grow.

Hope that helps.

I'm not a fan of turnkey investing, but Memphis Invest (and their property management company Premier Property Management) has a stellar reputation.  We are friendly competitors with them in Memphis and I have nothing but good things to say about their service and their products.

Good luck to you!

Curt,

Thanks so much for the recommendation.

At CrestCore Realty (www.crestcore.com), we work very hard to treat our investor clients exactly the same way we want to be treated ourselves.  

Please keep sending investors our way!  We really appreciate it.

Douglas

Hi, Denise.

Did you get your answer about Renshaw?  I'm happy to assist you if you still need help.

Thanks,

Douglas

David and Stephen,

Thanks so much for the kinds words!

At CrestCore Realty (www.crestcore.com), we work very hard to treat our investor clients exactly the same way we want to be treated ourselves.

We appreciate the partnership with have with each of you.

All the best,

Douglas

David and Steve, 

Thanks so much for the kinds words!

At CrestCore Realty (www.crestcore.com), we work very hard to treat our investor clients exactly the same way we want to be treated ourselves, especially since 1/3 of the 2,100 units we manage are owned by either CrestCore employees or their family members.  We believe that "eating our own cooking" makes us the perfect fit for buy, hold, and grow investors.

We appreciate the partnership with have with each of you!

All the best,