All Forum Posts by: Jeff Schechter

@Tracey Leung  As a turnkey provider, I am amazed at how few investors come to see us.  We certainly have a lot of documentation to make them comfortable with their purchase, but there is another consideration... namely WHO are you doing business with?  This is something that goes beyond the numbers.  At least before your first purchase, it's a good idea to get a feel for the team you'll be working with.  If it's a good TK, they'll welcome the visit, and you'll hopefully be establishing a long term relationship.

A good 3rd party inspection can validate the quality of the work.  

We run a very successful TK company here in Indianapolis, and often get this question.  Ironically, the opposite is true.  Although we usually sell everything we put in front of our investors, every once in a while something just doesn't sell.  At that point, we usually just keep the "leftovers" for our own portfolios.  They were prepared in the same way, and perform nicely, so it works out well for us.  What this reveals, is that even with the SAME criteria, there are deals/properties that will appeal to some investors and not others. 

We are over 400 doors deep in Indy... Doing very well here. 

All we do is C in Indy. 

Yes, there are companies that vet good providers.  None of them work for free.  They simply take the hard work of a good turnkey company, mark up the product, and sell it to you.  So, you're now paying the markup of the TK provider AND the referral network. 

The only way you'll truly vet in an unbiased way is to speak with other investors with experience dealing directly with the TK provider.  From there, you should go visit the provider and see their operations. 

Hey @Jack Liu.  We are 450 doors deep in Indy.  And while it's true that you might pay more with some TK providers, it's not true with all of them.  Yes, "getting your hands dirty" can save you some money, but there are other costs to that as well.  We've done very well in C-class areas here.  Happy to answer any questions about how/why things are working for us.

Best of luck!

Hey Sierra,

Welcome. I think it will be important to define your strategy. Are you looking to flip? BRRRR? Or do you want to be more of a passive buy/hold investor? There are a lot of ways to skin the cat, as they say. Having clarity about what you want to do will help you find the right people and resources.

This conversation assumes that there is an abundance of B/A class duplexes that are available. There are very few to begin with, and a lot of competition for them. I'm not sure that you'll even find one with good enough numbers to consider. Within C class, duplexes are much more volatile than SFH's.

In all fairness, I strongly feel that any comments from @Julie S. would not be a fair representation of our company, as we offered to buy back her property, and she declined.  

You can read the full thread here:

https://www.biggerpockets.com/forums/92/topics/469355-high-return-real-estate-experiences?page=1

This was almost two ago, and since then, we have completely retooled our company.  We now do TWO inspections, and have our own in-house full-service Property Management team.  We have strong tenant screening and collection processes, and we do some of the best rehabs in the business.  We were a much younger company back then, and definitely made some mistakes, but we learned from them and continue to improve our processes.  Most importantly, we always do what we say we're going to do.