All Forum Posts by: Shauna Gingras

@Percy Joe Stanfield

Thanks for the recommendation! I’ll connect with them and let them know you referred me.

@Caleb Heimsoth

Perfect, thanks Caleb!

@Frank Mirando

As a tenant I’ve asked to pay in advance for a period of time, 6 or 12 months, etc. I also asked about pre-payment discounts, which they did provide.

I was fine with them following their regular screening process, I just didn’t want to worry about paying rent monthly, at the time this place took payment by check monthly, they didn’t have an online or automated option.

On a side note, I did this when I was quite ill and downsized from a OO to a rental, he is sort of in a similar situation. Ask the guy what his intentions are. For me it was a mental thing. Even though I had a terminal illness I figured if I pre-paid to live somewhere for a year I'd need to be alive to do that. It sounds a little nutty but having cancer messes with your brain a lot.

He may have less than good intentions with his request but give him a shot at explaining them so you can make a decision.

Good luck

@Mike D'Arrigo Thanks! The more I've learned recently about Turnkey I was beginning to think that the "premium" I was expecting/trying to avoid might not even be real.  Like any business the good companies are just pro's and run their business really well. Thanks for the details on their process!

@Nicholas Parish thanks! Yes, I've heard great things about Memphis Invest, I'm going to check in with Chris and also try to meet with them when I make a trip to Memphis in mid May.

I'll check out the Kansas City market as well, and I'll take you up on your offer of more info on that market.  Thanks so much!

@Tom Ott thanks!

@Sisai Birhanu thanks for sharing.  I'm totally a process person :) and what you did is exactly where I am aiming to go.

Congratulations on the momentum you've built, amazing!

@Wendy Patton thanks!  One of the best things I have learned from the folks here on BP is how important a good PM is.  I'm so thankful I found that out!

I'm going to meet with local PM companies hoping that I can find a good one.  Would appreciate any tips you may have for interviewing them to weed out the dishonest ones.

Thanks Wendy!

Thanks for sharing Mike, super informative! 

I did look at AZ for the proximity but ended up choosing Memphis based on a lower barrier to entry, although after reading your post perhaps I am wrong about that. 

I'm planning to visit before I purchase anything, I didn't realize how many people didn't make site visits until I read the horror stories posted from some of the Turnkey scams.  Longer term I may feel better about purchasing properties without visiting them once I am confident I have a good Turnkey partner in place.

Are the majority of your deals Subject To? I learned more from your post than a week of googling ;) Thanks!

Hello

I am looking to make my first property purchase and after trying to manage it alone I have started looking at turnkey options.  I live in California but am looking to invest in Memphis.

My thoughts are leveraging turnkey for my first few purchases will give me access to speed and resources that I don't have in an out of state market and I am also looking to see the practical pieces of the process so I can model those going forward.  I know that I will pay a premium for the convenience of turnkey but I'm thinking it may be worth it to start this way before taking one on myself/building my team to manage it.  

Has anyone gone this route?  Would love to hear your thoughts and experiences.

Thanks all!

Shauna