All Forum Posts by: Hank Keller

Hi @Nicholas Giordano - I don't own any TK's in KC but do have several with a company that does have an operation in KC. I do have access to some of their properties that I could share. If open to Indy or Charlotte, I have personal historic data I can share. Let me know how I can help.

@Andrew Malina - i love the saying live where you want to live but invest where the numbers make sense! Find a city that you are going to like living in and if it happens to be in a great market, that’s great but you can still make good returns from out of state. It always helps to invest in your local market...if the numbers work!

Charlotte is consistently at the top of the “best places to...” lists including live and have real estate. I have 1 property in charlotte and while it’s more expensive than my Indy rentals, it’s @9% returns and phenomenal appreciation.

I’ve got a few homes in the 16Tec area as well as 1 in fountain square. Several in total that are low B areas (working class where you have 50% ownership & 50% rental) and range in the $60’s, renting for $750and above. Average stay so far has been a little over 2 years. Over 7% returns and now going on 5 years. 

As others have said, visit the city, interview a few turnkey companies and do your due diligence...

@Robert Motch - Going on 5 years with my rentals... here's a few Rules of Thumb...

- my average tenancy is 2 years and with my Indy properties i expect to pay $1500/year to do a turn
- in the right market, with the right property management company doing good screening, they should re-rent  quickly (days to a week)
- even with my turnkeys, i spend 30 mins - 1.5 hours per month per property reviewing the numbers, asking questions and ensuring my targets are being met.
- just like my local, non turnkey rentals, some units have had little maintenance, others I've had to spend a couple thousand on. Again, just like my non TK rentals, I have a few that havent required maintenance and some that needed small things within 6-9 months.
- my property management company does a great job and I'm learning how to improve my local units from the experience.

Talk to many and you'll get a lot of different experiences. Visit the market, meet the team and do your due diligence.
Hank

I've used Kingdom Trust and the IRA club. Both are good and easy to work with. the IRA club pays an interest on the balance not being utilized...

@Lane Kawaoka even with turnkeys I'd still recommend a minimum of 10-30 mins per month per property to verify your returns are doing what they should. and if there are issues, it will take more.

in my opinion no matter what real estate path you take, you have to mind your own business or someone else will and it won't be as good as you.

@Antoine Martel - I'd have to agree that a turnkey investment in an A neighborhood is going to be a stretch to get those returns. At least where I invest. 

@Maggie H. - I'm a satisfied customer who is helping to market what I feel is a very good company. Whether the company I use, or any of the other, it takes a very good purchase to be able to buy a TK with some equity. It still happens but to give you a number of a percentage below market would be specific to my market and not necessarily what you might find.

@Bryan O.  Please read the about page of my website. I am not the owner of the turnkey company. 

@Roger S. - I am biased from a customer perspective. I don't like people making blanket statements when they're unwilling to say if they have experience with a specific vendor or strategy. I give out data because I have it.

I hope other customers of turnkey companies speak up too on this thread! :-)