All Forum Posts by: Jeff Hamlin

I thought I would add a follow up comment now that I'm considering another purchase in Independence, MO. We closed on our first SFR there about seven months ago. For the most part, this property has been out of sight and out of mind. A couple months ago the Turnkey operator in KC decided to get out of the property management side of the business. He turned the management over to KC Commercial and Residential Management. From my perspective, this has been a positive development. We're receiving regular statements and have access to the appfolio account. The transition between management companies was seamless.

With regard to buying Turnkey, it has proven to be a big success for me so far.  Life has been hectic with three young kids at home.  I manage our local rental property and the recent turnover there was unpleasant and disruptive to our regular schedule. I'd recommend not renting to "fire jugglers!"  I remain an advocate for buying Turnkey out of state.  Given my lack of time or energy available, I'm not able to be more hands on with my investing.  I'm happy with the contacts I've made through Maverick on my first transaction with them and will likely use them again for my next.  For your interest, here's a link: 

https://www.maverickinvestorgroup.com/ref?aff=2147&code=Doors&url=https%3A//www.maverickinvestorgroup.com/turn-key-real-estate&email=

I'd welcome any feedback as I prepare to purchase our next property, which will be our third rental.

@TJ P. this is just our third property so we qualified for loan with 80% financing with a rate of 5%.  Many of the Turnkey operators have lenders they recommend.  I connected with Steve Bighaus based on a recommendation from Maverick and hearing references of him on the Best Ever Real Estate Advice podcast by Joe Fairless.  @Tracey G. I did some simple google searches for Turnkey Real Estate and searched the forums on BP for feedback about them and then just started making phone calls.  I think there are some good people in your neck of the woods though.  Clayton Morris is a name that comes to mind in the NE.  He was on the BP Podcast episode #151.  I think one of the better episodes they've put out.  Life is Good!

@Account Closed I anticipate making another purchase in the next couple months.  I'm waiting to see how the management piece plays out before further committing to this management company.  I'll post an update if/when that happens.  Let's connect at the Portland BP Meetup April 16th.

My wife and I are buy and hold investors from Happy Valley (Portland, Oregon).  We've learned some lessons over the years, bought and sold several properties and always kept my wife's first home as a rental.  We are just now getting back on track toward accumulating positive cashflow properties.  My fellow investor buddy, JR Hinds turned me onto Turnkey opportunities last year and so I thought I would post a review of my first experience below:

I had an excellent experience with the Maverick Turnkey operator in KC. I flew into Kansas City in November and spent nearly two full days with him while he showed me around the city and walked me through several of his previous and existing projects. I have trust in his ability to deliver a fully rehabbed property. There was no hesitation on his part in taking care of the issues identified in the Home Inspection Report. (Sam DeRodes - Home Detective Property Inspections)

I closed on the property in February (Independence, MO). He placed a tenant successfully. My challenge was the length of time for them to set me up in their management system to access to their online reporting and awaiting the initial deposits into my bank account. In that sense, I was way too relaxed with them and should have been more forceful about my expectations. However, once I connected with their office manager, she seemed to get right to it.

I suspect you're most interested in the financials...

Purchase Price - $89,500

PITI - $547

Garbage - $35

Monthly Repair Reserves- $45

Monthly Vacancy Reserves - $50

Monthly Mgmt Fee - $80

Total Monthly Outflow - $757

Monthly Rent - $1,000

Positive Cashflow - $243

Overall, I was happy with my experience with Maverick.  Here's a link to their site if you're curious:  https://www.maverickinvestorgroup.com/ref?aff=2147...

Good investing to all of you!

Jeff

I'm in too. Looking forward to finally making one of these meetups. Cheers!

I intend to make my first investment purchase in KC soon and am wondering if anyone has a solid referral for an insurance agent they work with or have worked with in the past.  Thanks!

It kills me that I can't make this Portland event. I am looking forward to getting acquainted with many of you.

Hi Joel, I'm new to BiggerPockets as well. It's a fantastic resource. If you don't have a resource here in Portland, I'd be glad to share some information. I've been a landlord and realtor here for 10 years. I'm always open to expanding my network and meeting likeminded people. Safe travels and welcome back to Portland upon your return. Jeff

Hi Sergiu,

I'm a big advocate for writing goals down.  As you consider the opportunity to invest in real estate, make a list of your initial goals and work through them.  Hopeful many of those goals pertain to taking steps toward your first purchase.  Find a realtor you are comfortable with and knows the market well.  Research the market yourself so when the right deal appears, you and your realtor can move fast to lock up the deal. Given the low inventory in our market, readiness is very important.  See you around the HV!

Hi BiggerPockets!

I was referred to BP by a friend/client and am enjoying the podcasts and webinars.  I've been a licensed real estate broker in the Portland market since 2005 and have owned rental property since 2003.  I'm anxious to get back to investing for myself again.  i appreciate the opportunity to share ideas and learn from others in a community environment.  I'm looking forward to getting acquainted with like-minded people.  Cheers!

~ Jeff