All Forum Posts by: Jeff Schechter

@timothy wyer - what market and price point are you looking at?

I am not seeing how charts about a possible slowdown half a world away helps an investor who is asking about turnkey in the US.  

I also do not agree with the "premium" model.  It may be true of some turnkeys, but not us.  Our profits are made by doing things more efficiently than the investor can do themselves.    Happy to answer questions if you want to PM me.

The wholesale market is very cempetetive in Indy... many taking each other's properties and just marking them up.. 

Successful wholesalers have 2 things...

1.. great Marketing in place to acquire properties at the right price.

2. Great Marketing in place to sell those properties

Unless you like a lot of risk and headache, i would suggest finding a good turn key provider in Cleveland  ... There are some good ones there .

At that price point, there is not enough meat on the bone for you to be able to afford to make even one mistake.

Hey @Steve Basra,

We're now over 300 doors in Indianapolis, between us and our OOS and OOC investors.  Interestingly, my sis lives in Thornhill, and I drive up there a few times a year.  It's not that bad of a drive... I can do it in 8.25 hours.  Certainly within striking distance.  PM me if you'd like more info.

Good luck!

@Milena S. given that...

1.  You're new to this

2.  You can't screw in a lightbulb

3.  You're not finding good turnkey deals "in your area..."

Why not look to a reputable turnkey company in Detroit, right across the bridge from where you are?  When you find a good one, their economies of scale will protect you from some potentially large financial mistakes you might make going on your own.

@Kevin Charles As a partner in a TK company, I too would reiterate with others have so eloquently stated.  A good true turnkey is a company that lives, works, eats, and breathes in the metro area that you want to invest.  They will acquire, rehab to specific standards, allow 3rd party inspections, give a warranty on their work, place good tenants, and then have excellent management of those tenants.  Anything less than that, and you're increasing your risk, as your seller will not have enough skin in the game.  We've recently gone so far as to only sell properties that are ALREADY tenanted and performing, so the investor is walking into cash flow from day one.  For the newer investor, or the OOS investor that just wants the piece of mind, this is an excellent strategy.

Good luck!

If you want the piece of mind of a TRUE Turnkey, this is the one...

Nice rehab with NEW furnace, NEW water heater, NEW carpet, and lots of cosmetics to interior and exterior.  Excellent Professional Management by the same team that rehabbed the property.

Details here:  Gorgeous Performing SFH!

@Llewelyn A.. we are heavily invested in C Class properties in Indianapolis.. we pay cash for properties for what would be a down payment in other areas.... so we can own a lot more properties and spread the risk. Even after all expenses we can typically make 10 to 14% Roi on our cash.. a cash out refi only improves upon that but we typically won't Finance more than about 60% of the purchase price as we are looking for significant cash flow. Appreciation is a long-term game, and even the braggers don't mention how much spending power they've lost due to inflation over the period that they've held the property.. We would much rather have the earnings right now and have the spending power of today's dollars and have the depreciation advantages.

@Bjorn Ahlblad - I'd love for you to spend a week in my shoes.  You opinion would likely be reversed.  :)