All Forum Posts by: Jacky Lei

Some good points on here. While it's true that you could do what HomeRoom does yourself, it would take a lot of time, effort and a moderate level of market by market expertise, especially if you're an out of state investor like me. I live in California so buying investment property here is pretty much out of the question right now. I have researched HomeRoom and talked with the founder Johnny a lot. The reason I am planning to invest with HomeRoom is the upside / value for the OOS investor like me. From what I can tell, they have the same/similar returns as turnkey, with a higher tenant class in better neighborhoods and almost no stresses of management. They can pay you market rents because of the co-living (renting room by room) approach. This yields upwards of 70% more than market. Of course, it may not make sense for all investors, but for an OOS investor like me who's looking for truly passive investments (or close to it) it seems like a win-win. Just my 2 cents. I'll be happy to share more from my actual experience once I get my first property with them.

Hello Eric. There are many teams across the midwest that do this business. I would ask the company to provide you with their buyer's contact information and see what they say. You also don't need to start off with straight turnkey companies, there are companies that will help you find properties on the MLS, fix them up and rent them out.

@Eric Inigo I think their concept can be effective if there are enough people to fill their vacancy. As long as you are getting market rent or better and have great options to terminate contracts as needed in case they fill with bad tenants, poor management of your property, etc. it seems like a viable option for passive investing. You can most definitely make more by doing on your own, but their model of getting room mates together in a house who don't know each other seems like a management horror story to me. Do you have a specific property in mind that you own and are referring to for their services? Maybe I can add some insight if you do on the specific area and my investment strategy.