All Forum Posts by: Kasi V.

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

Investors Beware! Don’t Trust Turnkey Provider Data Blindly!

I wanted to share a cautionary experience for those relying on data from turnkey providers, including RoofStock.

Back in 2018-2020, I purchased three properties through RoofStock and was generally happy. However, when I recently browsed their listings, I was shocked at how much the data quality had declined. I usually use their numbers to shortlist properties before doing final due diligence—but this time, the discrepancies were massive. Properties that initially appeared cash-flow positive turned out to be cash-flow negative after verifying the actual numbers. What a waste of time!

@Tony Kim is right. Roofstock "has a snazzy website...But...don't be fooled by the nice looking UI. Everything is a mess underneath."

And it’s not just RoofStock. Many platforms and turnkey providers manipulate or misrepresent data to make deals look better than they are. To make things even more confusing, each company presents data in its own format. They use different assumptions for down payment percentage, interest rates, loan tenure, and expenses. Many conveniently omit key costs like leasing fees, vacancy rates, or maintenance reserves, making their projections appear more favorable than reality.

The best strategy? Run your own numbers. After years of experience, I developed a spreadsheet with key formulas and checklists to calculate the true Cash-on-Cash Return on Investment (CoC ROI). This way I can do an apples-to-apples comparison between properties provided by different turnkey companies.

With this, I can determine in under five minutes whether a property is worth further investigation. Of course, deeper due diligence still takes time, but at least I’m not wasting it on misleading listings.

Bottom line: Trust, but verify! Always analyze the numbers yourself before making an investment decision.

Thank you so much, Bob. 

I greatly appreciate your quick response. You've clarified my doubts, and now I can make a fully informed decision.

Hello fellow investors,

I recently listed my property on Zillow as FOR SALE BY OWNER. Within days, I received several calls and emails with offers to buy under PURCHASE CONTRACT AND ESCROW INSTRUCTIONS. They sent me a contract to sign with the purchase price and timeline.

My concern is how they can provide a price without even inspecting the property. Additionally, repair costs (if any),  all closing costs are covered by the buyer, and there is no commission!

Is there a catch? What are the potential downsides of this process? What clauses should we be careful of? While under contract, can we still offer to sell to others?

Thanks for the help.

Those who want to get into REI but don't have the time can DM me. I can share my analysis.

I have been investing since 2018 and own 5 rental properties spread across Northe Carolina, Florida and Tennessee. All are cash flowing and of course there have been some great lessons! I have been analzing properties regularly and my goal is to add at least 2 properties every year.

Home River ? Please stay away!

Here are my bitter experiences and why I was so desperate and even ready to lose $1100 to dump HRG.

We purchased this property at Memphis, TN which was already tenanted. We switched the PM to Home River. The very first day I received a call in the midnight from their maintenance team asking for clarifications. They called me directly since they could not reach the property manager assigned to this property. I was so annoyed… what is the point in having a PM and paying them monthly fees?!

After 2 weeks Home River emailed me just casually, the tenant had vacated 2 weeks ago. When I asked them why they did not know this earlier for which I received a response they sent a welcome letter to the tenant and kept mum. They claimed, this is their standard procedure!!

What??!! As a new PM don’t you visit the tenant or at the least give the tenant a courtesy call about the changes?

These were red flags to me and decided to terminate the contract immediately. In spite of their blunders they insisted on the early termination fee.

I recently switched my PM in Jacksonville, FL also. I found too many errors in their accounting statements and a wrong Schedule E.

I found another PM who are more economical, 100% transparent and much better control over the accounts.

Home River ? Please stay away!

Here are my bitter experiences and why I was so desperate and even ready to lose $1100 to dump HRG.

We purchased this property at Memphis, TN which was already tenanted. We switched the PM to Home River. The very first day I received a call in the midnight from their maintenance team asking for clarifications. They called me directly since they could not reach the property manager assigned to this property. I was so annoyed… what is the point in having a PM and paying them monthly fees?!

After 2 weeks Home River emailed me just casually, the tenant had vacated 2 weeks ago. When I asked them why they did not know this earlier for which I received a response they sent a welcome letter to the tenant and kept mum. They claimed, this is their standard procedure!!

What??!! As a new PM don’t you visit the tenant or at the least give the tenant a courtesy call about the changes?

These were red flags to me and decided to terminate the contract immediately. In spite of their blunders they insisted on the early termination fee.

I recently switched my PM in Jacksonville, FL also. I found too many errors in their accounting statements and a wrong Schedule E.

I found another PM who are more economical, 100% transparent and much better control over the accounts.