All Forum Posts by: Kasi V.

Hi Bobby, I've been managing my rental properties all remotely. After getting fed up with the property managers I started managing, repairing, maintaining, leasing the properties and collecting rents using online tools like thumbtack, Angie's list, Rentsavvy, Apartments.com. 

Investors Beware: 

I strongly advise against blindly trusting the data provided by turn-key investment providers. 

Investors Beware: 

I strongly advise against blindly trusting the data provided by turn-key investment providers.

If you're considering investing with any turn key provider, verify every number line by line to avoid costly surprises.

Investors Beware: My Costly Experience with Rent to Retire (RTR)

I strongly advise against blindly trusting the data provided by turn-key investment providers, including Rent to Retire (RTR).

I invested in a property in Texas City, TX through RTR, and it has been a financial disaster. Their projected numbers were wildly inaccurate, particularly regarding property taxes. RTR estimated taxes at $6,400, but the actual tax bill came in at $14,300—a staggering 2.23x higher! How can a supposedly professional company with an experienced team make such a massive miscalculation?

This unexpected expense turned what was promised as a cash-positive investment into a cash-negative one—the first in my investing career.

To make matters worse, I lost $21,000 due to the property managers recommended by RTR. While RTR compensated me $10,000, the remaining loss is still significant.

Bottom line: RTR’s data is unreliable. If you're considering investing with them, verify every number line by line to avoid costly surprises.

Newly built Raymond. I will get in touch if I decide to move forward on this. Thanks.

One of my favorite states for OSS investments is Florida. I own two properties there, but insurance costs have skyrocketed.

Lately, securing home insurance has become increasingly challenging due to the high risk of hurricanes, flooding, and other factors. Many major insurers have pulled out entirely, making it even more difficult. For my next investment I’ve shortlisted a few properties in the area but feel hesitant to move forward. What are your thoughts?

Appetite, capability are different for each person. My perspective is:

 New construction is better because there will be warranty. Less hassle. Hopefully no maintenance for a couple of years. You can manage yourself avoiding property managers. Use online tools like Rent Savvy, Avail, Rent Redi, Apartment.com, Angie, Thumstack.... to manage yourself and learn. 

Regarding financials, the bottomline is the numbers should work. My criteria is at the least 5-7% cash on cash return. 

Hey Peter, After working with several PMs I decided to manage myself using the online tools. Reasons:

Why should they charge on a % basis? Shouldn't it be a flat fee?

 Some retain the late fees collected. Why??!! This never made sense to me. 

Why should they wait to get a new tenant till the current tenants move out. 

For maintenance requests they sent random contractors. With online platforms like Angie you can filter by their rating and reviews. 

Sometimes the quotes I received were much higher than what I found on my own  

 Why should they keep the security deposit?

Palak,

Many online tools like RentSavvy, Avail, Turbotenant, RentRedi, Apartment.com help you do this process. 

Having said that, since you're a newbie my strong suggestion is to go thru a professional initially.  You can avoid costly mistakes. 

REI nation is a reputed turnkey provider but they just sent me pictures of the property and asked me to choose. They don't provide the data first. Without the numbers how can we decide? This is a time consuming business. My criteria is cash on cash return. I first like to short list based on numbers and then deep dive. Hence I am staying away