All Forum Posts by: Riley Schaefer

I recommend avoiding Evolve as they will quote you the best mngt & marketing rate, but they will not properly manage your property being such a large, national platform. We do best finding local PM teams that really know the area, the seasons and the business in general. You pay for what you get with STR PMs!

Looks like this thread has been a bit outdated.  I'll update on my experience since I've been investing with Rent To Retirement for over 6 years now acquiring 17 properties in 5 different states. 

I would say that overall, my experience has been very good. I've had more properties that over performed than underperformed, so overall my portfolio is doing better than expected, which is a good thing!  The properties that have performed the best are new construction properties in FL & AL that were already built when we bought them.  The AL properties were already leased.  The new builds have definitely outperformed the older, rehabbed homes over time, even though the numbers may not look as good upfront.  Most of these new builds have appreciated like crazy both in home values and rents.  My recommendation is to look at new construction in growing areas for anyone considering this strategy.  I have generally have a very good experience and will continue to invest with RTR.  Their involvement in helping me build an individualized investment strategy has been paramount in getting me where I am today along with the resources they've shared for tax strategy has likely saved me 6 figures in taxes over time!

I shared more of my earlier experience on this thread:

https://www.biggerpockets.com/forums/92/topics/518583-feedba...

@Matthew Dunn

we used onlinejobs.ph to hire VAs to run the dynamic pricing through price labs and answer guest questions via vrbo & airbnb.  we had to train them extensively upfront, but overall they've been very good.

@Trevor Amsberry Sorry for the late reply.  I'm not on BP consistently these days.

Overall the experience is still very positive, and yes, I am continuing to invest with them. I think they are great team to start with. I have gone on to make some of my own investments as well, but I continue to buy in the locations they have teams in that I do not. All my properties are cash flowing well and I've experienced excellent appreciation over the past few years on the properties I purchased (like many people have). I have found that the new construction seem to perform better over time with less maintenance even though the ROI seems slightly lower upfront. My recommendation on a starting point would be to focus on new construction that is already completed. Hope this helps.

@Cathleen Arhelger I would look at their website to see ROI and other data points, and definitely reach out to their team to ask specific questions. I've continued to find them very helpful with all my investments I'm working on regardless if it's through their network or not, which is great! They don't charge anything to you for this. Best of luck!

@Alex Kernus

We just completed a new construction in FL that appraised for $45k above what we initially paid for it. We knew it would have equity, but that even surpassed our expectations. This will allow us to do a cash out refi all of our money to reinvest in another project and still cash flow in brand new build. Not the traditional BRRR, but way more passive, and still great returns. Have you considered that model? I would research Rent To Retirement on here as that is who I went through to do this. I think they have some other BRRR opportunities available as well.

@Sarp Ka

Florida (Cape Coral & Ocala), Indianapolis, Kansas City!  All have good cash flow & appreciation potential!

@Dimitri Zavos

Happy to help my friend!  I'm glad you found the info useful!

Seems like I've seen this same question asked about every three months over the past 5 years...

Where is my calculator...

@Geodel Isip

If you are talking about conventional mortgages you can have up to 10 at one point in time.  If you have a spouse or partner that finances the properties individually then you can have up to 20.  Basically each person can have 10 at once.  Keep in mind that is just for your conventional loans though.  There are all sorts of other lenders out there where there is no limit.  We've used portfolio loans where we had 6 properties under one loan.  We've been investing in RE for about the past 8 years, but really the past 5 to 6 is when we started to have a more strategic approach in building our portfolio.  In the early couple of years we managed our own rentals which didn't go so well...

Hope I answered your questions.  Let me know if you have any others.