Seattle, WA · Member since 2013 · 70 posts · 33 votes
I bought two turnkey rental duplex units in Indianapolis last year that came with a one year rent guarantee. The rent protection was thru AON and was paid for by the advertiser that markets turn key homes.
Out of the four units I own, I’ve had to use the rent protection policy on three of the units; yes 3 out of 4 in less than a year. Two of the claims were processed pretty smooth. The third claim was denied due to the turn key/sellers placing a tenant that was a felon. This voided the policy for that tenant and I’m out quite a large sum of money; no rent since August and court date is not till the end of this month.
The AON policy is great, just make sure your tenants meet all of the criteria. I’m pretty sure that AON will not insure me when the policy expires. I can thank the turn key seller/property managers for this.
Investor · Singapore · Member since 2013 · 1k+ posts · 3k+ votes
12y
Wow, I just found this thread and feel compelled to comment. I also invest in Indy and have done through @Mike D'Arrigo and Pinnacle investing. I have 6 homes so far and have had one really bad experience. So let me tell you the difference between Will's story and mine. I bought a package of 4 already rented homes through Mike. It was a sale from another investor who also managed those properties through his PM company. The first thing Mike ever told me when I started was 1. No Duplexes, 2. Nothing in Center Township. That kept me away from the D class properties.
In this property set of 4 there were 2 excellent properties and two average properties based on the numbers. I examined the rent rolls and saw that one tenant on the average properties was often late. I asked the current PM about it and they said she always caught up. I was skeptical but thought the worst I would have to do is replace the tenant. Well this tenant didnt pay and when I put an eviction notice she left but totally trashed the place in the meantime. My lesson was learned. But the PM company I used was quick and efficient in the eviction process which was good to know. Of course I told Mike about the issue. Now in no way can I say he was responsible for that particular tenant. It was not him that selected the PM that placed her. But he totally took the problem to heart. He spent countless hours screening contractors and finally found me one that would do it at almost half the price of the other bids. He supervised the contractor, coordinated with the PM company and stayed totally engaged until the property was fixed and a new tenant was in place. That was my definition of good turnkey service.
Yes it cost me several thousands in repair and lost rent. But still over the year I made money on my portfolio. I learned some important lessons in due diligence and I tested the mettle of people I am doing business with. Not a pleasant experience but actually going through it gave me confidence to scale up the investments because I have seen what is most likely the worst case scenario already. And I saw first hand the value of diversification. As a result I will probably add some B class higher end properties to my portfolio to balance the risk. I have implemented a stringent screening criteria for tenants and my due diligence list grows stronger after every purchase. Its a process and some learning is to be expected. It did not turn me off from the business model and in many ways made me more comfortable as an investor.
Specialist · Orange County, CA · Member since 2008 · 2k+ posts · 623 votes
12y
@John Chapman. Thank you. Yes, this is an uncommon event and situations like this need to be dealt with as best as they can. Fortunately this has been an isolated event (two investors actually), and we have been quick to step in to address those management concerns. It's not over, but nobody is giving up.
RE: Your comment to Ali: The property was renovated to a high rehab standard and the scope of work was thorough. Bad management was the root problem.
Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
12y
@Joel Owens I actually started reading this thread last night, but wanted to read through the entire thing before I commented. This thread brings up a lot of interesting points and advice as well as some very common criticisms of purchasing Turnkey properties and buying from a promoter.
The reality is that through no rhyme nor reason, we as investors will have unexpected problems at our properties. Great tenants will move out unexpectedly and houses will get vandalized for no reason. We will face issues at some point as investors. The real issue is what are we doing to protect ourselves and how do we avoid the wolf in sheep's clothing who puts up a front and we later find out (sometimes very quickly) that the properties are sub-par, the renovation was poor or the property management operates in name only. For me, when I read this thread, that was what I saw as the real problem.
I think @Will Spruill did what he felt was proper due diligence. I am sure he now knows a few more questions to ask before buying. I am sure he realizes now that he cannot rely solely on a promoter, but has to ask questions that may make him or even the turnkey company uncomfortable. Because, as we all know and I just said, the problems will come either way at some point, the last thing we want to do is make them worse by dealing with a sub-par company.
@Marco Santarelli is absolutely a high-quality person who values his company. But even Marco will tell you that he is not buying, renovating or renting properties. He is relying on the companies he chooses to promote to act in good faith and provide the service and product that he expects. If, in hindsight, Marco sees that these particular properties or this particular company are not up the par that he has set for his company, then hopefully he will remove them from his company. I am sure he will. I have seen my fair share of promoters who continue to promote subpar companies because their clients are willing to take the risks (there are a lot of investors who are way too risky and want to buy "cheap" properties). What the promote is risking is their reputation.
Lastly, Marco has been in this particular niche industry for a long time. I trust his opinion and business ethics and would continue to do so until he gives me reason to think otherwise. We do not do business together mainly because my company is not in great need of his service. But, I have a great deal of respect for him and trust that he will do the right thing by both his client and the company that he was promoting.
Joel, as a company, we do deal with these kinds of issues. We have early lease terminations and properties that sit vacant for abnormally long periods. It happens even with companies that operate at a high level of competency ( and I think we are one of them). I will add that great communication between buyer and PM company can really solve a lot of issues that arise from anxiety. For an investor buying for a long-distance, anxiety and not-knowing or trusting can eat away at you everyday. A PM company can go a long way by simply picking up the phone and communicating quickly and honestly.
@John Chapman, @Sharon Tzib@Mark Ferguson@Daniel Guillermo 2. Second, Will's properties were already under management by this (new) management company. They were vetted as far as a new company could be, and Will was aware of their relationship with the property and the rehabber. As @Ali Boone correctly mentioned above it's "bad property management putting in low-quality tenants.".
There is no "new" management company, I'm still with the same company as bought with the turn key package. They did however change their name in the middle of this mess from Capstone property management to Indianapolis property management. So again, no new company.
3. Third, regarding the "not accepting any responsibility" comment, we have spent a good deal of time with Will and the property manager trying to understand the situation, answering questions, looking for solutions, and trying to help wherever possible. In fact, I wanted to avoid mentioning it, but we went as far as compensating Will for a month's rent just to help him a little.
Yes, Marco did compensate me for one months rent. This was only cause the AON rent protection policy was not setup by him by the time our first unit went into default and eviction.
One thing I have yet to see, unless I missed it was what the properties rented for with the new tenants. It sounded lower than what they were first rented for.
The rents being charged are the same as when I bought. Currently I only have one new tenant from the first eviction. I'm not getting rent from both units of my second purchase and they are in the eviction process.
As promised, here is AON's reply to Will's policy question:
"Within the 12-month policy term, the 6 months of reimbursement and $1000 in legal fees that the policy holder is eligible for is independent of the number of claims filed.
For example, if tenant 'A' defaults but didn’t meet the qualification requirements, then tenant 'B' moves in and they do meet the requirements, claims will still be honored should tenant 'B' default."
I've never been worried about them dropping me mid policy. What concerns me is renewal of the policy after it expires and my credit history for now three insurance claims.
Bryan Kinsey contacted me personally to thank me for my service and explain why the "felon tenant" claim was denied. Again AON has been great to deal with and saved me thousands in lost rent.
Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
12y
Here is my .02 cents and for some that may be all it is worth! I want to be in control of my decision making when I buy a property out of town. I operate a large Turnkey company that works in three cities and manages roughly 2,200 properties today for 800+ investors. In order to do it effectively and efficiently, it takes daily planning, meeting, reviewing, accountability as well as systems, procedures, organization and leadership. It is a business! I am also looking buy property in other cities like Indianapolis,Kansas City and Atlanta for myself. If I do not see a Turnkey company owner that values smart business operations then I will not buy. I know what the future result will be.
Before my 2nd response gets too out of control, here is what I would look for if you are going to buy Turnkey regardless of how you find out about a property or a company.
1. Rent and maintenance guarantees are almost always worthless and nothing more than a selling tool. If a company makes a guarantee, ask for them to give you that guarantee in year three. If the property has been renovated correctly and the tenants have been vetted properly, then the first two years should see relatively few problems. They may occur, but you will know that a year 3 rent guarantee is being offered because the company feels they provide long-term great value - not just a quick selling tool.
2. Look for a company that values high-quality in all aspects. Not just renovation, but also property management. If they are running a thin operation and trying to do everything on a small budget to save investors money, you can absolutely bet that the opposite is happening. Investors are losing money when they deal with small companies who value the concept of "stay small and keep it all". Corners will be cut and the work load will be dropped because the people are spread too thin.
3. Communication is the key. Problems will happen with properties and sometimes, through no rhyme nor reason, they will happen within the first few months of buying a property. It happens. How the property management company deals with it is going to be your clue as to whether they are a good company. Ask the property management company what is their communication policy? - when do they call you as an owner. If they don't have one - they are not the right company. If they do have one, test them. Ask for a current investor who had a quick move out with a high fix-up cost and ask for their contact info. Call them and ask if they felt they were in the dark or kept up to date.
4. I think someone else made this comment and I agree 100%. I am not a fan of duplexes because they, for the most part, are rented at a lower rate per door and therefor attract a tenant who may be a higher risk. I have always seen a faster turn-over rate and applicants that are financially weak. They NEED to pay the lower rent and therefor they are attracted to these properties. I prefer, after having learned my lessons, to stick with single-family homes that attract families. Echoing @Ali Boone , I also like properties in higher rent ranges as they attract (in general) a more stable tenant.
5. Renovations is a huge problem in turnkey properties. Too many still adhere to the idea that lowering the renovation, lowers the entry cost for an investor and raises their return...on paper. Too many TK companies SELL their properties and their paper returns using promises and all of the glamour phrases instead of highlighting the value they bring to the table. Look for companies that reduce long-term maintenance by completing a higher level of renovation on the front-end. The 6 quality of life issues have to be a major focus because those are also the issues that will cost us as investors the most money over time. They may be higher priced (and maybe not), but if they can show you how a better renovation and an efficiently run company can bring a consistent and more reliable experience and return for you as an investor, then you have probably found a good company.
Lastly, everyone talks a good game. Many can copy marketing and use catchy phrases and talk about what matters most to them as a company. An investor has a responsibility to themselves and anyone who is relying on them as a financial provider to ask tough questions and don't worry about making a company uncomfortable. It is your money and honestly no amount of due diligence is too much unless it prevents you from ever taking action.
Real Estate Broker · Cypress, TX · Member since 2013 · 822 posts · 468 votes
12y
@Marco Santarelli thank you for your comments/explanations, but this is the issue I have. Your own website says the following on the About page:
The property is in a stable or growth market.
The property is in a desirable neighborhood.
The property is new or has been newly rehabbed.
The property is leased, or in the process of being leased.
The property is under professional property management.
The property is cash-flow positive.
The property has been carefully selected with renters in mind.
This is why investors use a company like you. They either lack the time, resources, or expertise to find cash flowing investments, but they want to enjoy the returns, growth, and tax benefits of investing in real estate. If they had the wherewithall to do this on their own, there would be no use for turnkey companies in the first place (as @John Chapman .so correctly pointed out).
I invest in Indy, so I know the market well. I even know what some of those "D" duplexes look like (I've walked through them), and what the neighborhood is like. It is not for the faint of heart, and while Will ultimately needs to take responsibility for his decision to buy a D class property (I agree with you there @Ali Boone ), ultimately he was looking to your team to ensure his purchase would be profitable and sustainable for years to come.
This is where I think Norada failed him. You did not sell him property in a stable or growth market. You did not sell him property in a desirable neighborhood. You did not place him under professional property management. The property has not been cash flow positive, yet. And the property does not seem to have been carefully selected with renters in mind (because here's the thing - who in those neighborhoods can realistically afford $1400/month in rent - a drug dealer or prostitute, that's who, which is why the bulk of the applicants will probably have felon records).
Also, your site says when discussing your team of professionals, "And if we receive complaints from our members, the professional is removed from our Network." It does not say that you will take an agnostic view of the situation (and please explain to me why it is important for you to do that).
I'm glad to hear you have offered Will financial assistance, but as a business woman and a property manager myself, I want to say that I think you need to hold your company to a higher standard. No one coming to a turnkey company should have to go through what Will has.
Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
12y
Originally posted by @Sharon Tzib:
This is where I think Norada failed him.
I'm glad to hear you have offered Will financial assistance, but as a business woman and a property manager myself, I want to say that I think you need to hold your company to a higher standard. No one coming to a turnkey company should have to go through what Will has.
I think saying that Marco failed a client is way too strong. There is still plenty of play-out left in this scenario for both Marco and Will. In no way can the original scenario be considered positive, but at a minimum, we should give Marco and Will the opportunity to work through this scenario from start all the way to finish.
I think Will's experience is fairly common for a lot of investors who buy out of town whether they use a TK company or not. Too often we just simply take answers at face value and do not dig deep enough. Before we know it we have bought a poorly performing property and investors do go through Will's struggle every day. @Will Spruill , I appreciate your willingness to throw it out there on the BP site. I will tell you that I made many mistakes starting off and some of them look really familiar in your story. The good news is, you can learn from this and you absolutely can recover as an investor and improve on your future purchases - even from TK companies.
Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
12y
Kent mentioned a topic that I feel is one of the corner stones in a successful SFR, the depth of rehab, which inversely drives maintenance and CAPEX in year 3-10. My guess is that if you did a 5 yr profitability calc on alot of TKs they would not be profitable on a cashflow basis (ignoring depreciation and appreciation) because of defered maintenance and CAPEX from the original rehab. I'm just guessing, but from what I saw from looking at pictures of TK interiors I saw the need for new bathrooms and kitchens in the near future that some unsuspecting foreign buyer will foot the bill for in later years.
"Lipstick rehab's" drive turn over and damage. Few PMs will tell you this but it's common knowledge in landlord circles and education. If you show low standards to a renter by presenting a marginaly rehabed place it will get trashed. Put in a nice level of rehab (area appropriate) and closely manage the renter relationship my experience is that you'll get higher rent, annual renewals and low damage. But TK operators aren't compensated for putting in another $10k of rehab into each property, nor will they volunteer a 5 yr cash flow from actual experience. Buyers need to be better educated.
Open issues in this topic as I see them:
1) actual profitability examples from a low, medium and high rehab'ed TK? Add in demographic location vs profitability. LOL it just kills me when I hear of TKs in $25k purchase (plus rehab) price type areas!!!
2) turn over vs rehab level vs demographic area from actuals.
Our recipe for low PM effort is to buy in a great schools high school rating of 6 or better, rehab to a high level, advertise the high school in our ads and select for families who want their kids in that school.
The Atlanta's TK inventory that I've seen is in great schools 3 or lower. Buyers need to educate themselves on where to buy, how much to rehab and how to select a renter..... even when they buy a turn key is my view.
There is no such investment that is purely a mailbox income investment,,, except a bond fund or money market account. LOL
Real Estate Broker · Cypress, TX · Member since 2013 · 822 posts · 468 votes
12y
Well only time will tell, @Chris Clothier , but based on what his website promises and what was actually delivered, I would call it a fail. Even if the ship gets righted, as I stated, no one who goes to a turnkey provider should have to go through this, imho.
Also, I was never addressing any investor not using a turnkey company - that's a whole other ball of wax. Thanks!
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
12y
Much has been said on this topic and there's been some great insights. The only thing I want to add is that the problem isn't so much buying through a turn-key company but just buying in the wrong area. Unfortunately, this can happen whether you do it on your own or buy a turn-key. When you buy a "D" class property, it's pretty much guaranteed that you'll get these results--especially when it's a duplex. If this is a "D" property, I'm not sure that any property manager is going to be able to do much better. You're just never going to get good tenants with that class of property. It's quite possible that the reason that the PM was able to get the high rent in the beginning is that the tenant was desperate because no one else would rent to them. A tenant paying over market rent can be a red flag.
Seattle, WA · Member since 2013 · 70 posts · 33 votes
12y
I’ll add a little bit more to the rent story as I think it’s a bit confused. The property management company I bought into thru the turn key package charges rent weekly. My D class duplex charges $160 per week rent for a 1200 sq ft unit. In fact here’s the link to the site for a better idea
I’ll add a little bit more to the rent story as I think it’s a bit confused. The property management company I bought into thru the turn key package charges rent weekly. My D class duplex charges $160 per week rent for a 1200 sq ft unit. In fact here’s the link to the site for a better idea
Mine is North Rural Ave.
Wow! That does change your outlook for success by a lot. I will just say again Will to stay in contact with Marco at this point and tell him exactly what you need for this scenario to be made right. I would do the same thing with the Turnkey operator in Indianapolis. Tell them EXACTLY what you expect to happen now that you are knee deep in this mess.
Much has been said on this topic and there's been some great insights. The only thing I want to add is that the problem isn't so much buying through a turn-key company but just buying in the wrong area. Unfortunately, this can happen whether you do it on your own or buy a turn-key. When you buy a "D" class property, it's pretty much guaranteed that you'll get these results--especially when it's a duplex. If this is a "D" property, I'm not sure that any property manager is going to be able to do much better. You're just never going to get good tenants with that class of property. It's quite possible that the reason that the PM was able to get the high rent in the beginning is that the tenant was desperate because no one else would rent to them. A tenant paying over market rent can be a red flag.
Mike
Mike - Just wanted to highlight your post. I have been reading a lot of your advice on different forums lately and I am impressed. You seem to be level headed and offer some good advice. Glad to have you commenting here on BP - it can be very beneficial for other investors. Looking forward to reading more.
Real Estate Broker · Cypress, TX · Member since 2013 · 822 posts · 468 votes
12y
I totally agree with you @Mike D'Arrigo . So here's a question for you. Do you think a turnkey company should be offering D Class properties to their clients?
Most turnkey buyers do not have the time to obtain a level of sophistication of education as to what a D Class property truly means and will entail. Instead, they will trust the provider (maybe too much) and be blinded by the returns.
Should not a turnkey provider be held to a higher standard and offer "safer" investments in terms of the basics, like area, in order to minimize the challenges their clients will have ongoing with the rental that they may not be capable of facing?
For many reasons, I am not a turnkey investor, but my understanding of those who are is that they want maximum returns for minimal involvement. A D class property does not meet their goals. Thoughts?
Real Estate Broker · Cypress, TX · Member since 2013 · 822 posts · 468 votes
12y
So @Will Spruill are you saying there is one tenant on the lease that pays their rent weekly, at a rate of $160? Or are you saying that the unit can be rented on a weekly basis, like a boarding home or hotel, at the rate of $160/week?
If it is the latter, as a property manager, I can tell you that is a TON of work and will definitely minimize your returns since keeping the unit rented will be an ongoing challenge. The wear and tear is a bit frightening too.
If it's the former, prorating rent weekly is a red flag for your future reference, that the tenants either have a hard time budgeting or they barely make enough to cover their expenses weekly. Expect plenty of lates in this scenario.
So @Will Spruill are you saying there is one tenant on the lease that pays their rent weekly, at a rate of $160? Or are you saying that the unit can be rented on a weekly basis, like a boarding home or hotel, at the rate of $160/week?
If it is the latter, as a property manager, I can tell you that is a TON of work and will definitely minimize your returns since keeping the unit rented will be an ongoing challenge. The wear and tear is a bit frightening too.
If it's the former, prorating rent weekly is a red flag for your future reference, that the tenants either have a hard time budgeting or they barely make enough to cover their expenses weekly. Expect plenty of lates in this scenario.
The initial leases when I bought as turn key were two year. The rent is collected weekly and new leases are one year. I believe the new property manager and screening will make things better. So no, its not a week to week rental or boarding house.
Real Estate Professional · Mechanicsburg, PA · Member since 2012 · 319 posts · 167 votes
12y
@Sharon Tzib I'd consider myself a potential turnkey investor.
I'd say if Class D has so many headaches that it can't be managed, then its not appropriate for a turnkey operator to sell them as 'turn key'.
If they want to offer them - they should have some other name. Want higher returns that our turkey properties offer? Try one of our Class D properties in our 'Earn Your Return' program - we'll be calling you all the time, and you'll be fighting with AON for your rent insurance but if we all work really hard, you can get better returns than our B/C properies offer on a turnkey basis.
Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
12y
@Sharon Tzib I would love to see you post that question to Mike as a new forum thread to get more input.
I will tell you that defining Turnkey and what it should and should not be is futile. I have been trying to do it for years and it now has such negative connotations that we do not refer to our companies as Turnkey any more. We are identified with the term, but we try not to use it anymore because it has so many meanings. I will say that I agree with your basic premise and hopefully you post it as a forum question so we can all go into a little more detail.
"...and while Will ultimately needs to take responsibility for his decision to buy a D class property (I agree with you there @Ali Boone), ultimately he was looking to your team to ensure his purchase would be profitable and sustainable for years to come."
Although I agree with you Sharon, I think it's important to note that there was time spent doing due diligence on the property and the area, so Will was aware of what what the investment was. In fact he took a trip to Indy to see the area, visit the property and meet with the (then) property management team.
Indianapolis is a stable and growing market. That particular neighborhood is going through some gentrification with all the rehabbers/investors buying and renovating properties there. As mentioned in my previous post, this property management company was relatively new and struggled with growing pains. None of that was apparent at the time; and should it have been we would have made other recommendations.
First, we have not received a large number of complaints with this property manager. There are only two clients, including Will, that have had a negative experience. Therefore we are giving them the opportunity to get back on their feet and become the PM they intent to be. If that doesn't happen then we will stop working with them or referring them.
I talk about being agnostic in my "10 Rules for Successful Real Estate Investing." However, more broadly, we've taken an agnostic approach over the last 10 years in business by not being "married" to any market, builder, rehabber, property manager, home inspector, lender, loan officer, insurance, etc. We choose and try to work with only the best providers we can. Occasionally one of them falls down or has unexpected problems. In those situations we assess the situation and make decisions from there.
I feel we happen to hold ourselves to a very high standard. We've worked with hundreds of investors over the last 10 years and this is a rare situation. Additionally, we didn't let it go unnoticed. We stepped in the moment Will contacted me about the issue he was having. I certainly agree with you that nobody should have a similar experience as Will, and as @Chris Clothier has pointed out, "The reality is that through no rhyme nor reason, we as investors will have unexpected problems at our properties. Great tenants will move out unexpectedly and houses will get vandalized for no reason. We will face issues at some point as investors."
Memphis Invest truly pioneered the turn-key investing process in Memphis, Tennessee and continues to provide top quality real estate investment opportunities as well as the best customer serv
and again:
what to expect from property management, how to raise bank capital, why Memphis Invest is the top turn-key investment company and why Memphis is
Residential Real Estate Agent · Phoenix, AZ · Member since 2012 · 19 posts · 6 votes
12y
Sorry to hear this Will. I just wanted to chime in and say that I have actually had a good experience so far with my turnkey provider in Memphis. I just closed in November but they have great customer service so far and the properties should have solid cash flow. One is already rented for 975 and was purchased for 87k and the other is in the process of being filled with rent at 800 and was purchased for 70k. I know it's not 2% cash flow like is mentioned a lot on this site but I think it should be solid.
Memphis Invest truly pioneered the turn-key investing process in Memphis, Tennessee and continues to provide top quality real estate investment opportunities as well as the best customer serv
and again:
what to expect from property management, how to raise bank capital, why Memphis Invest is the top turn-key investment company and why Memphis is
No need to check it, as I said in the post, we are identified in the public with that term. In fact, we are about as closely identified to that term as anyone considering the length of time we have been in the business. So, the SEO on the website is certainly going to be tied to the term. It is widely used and searched for by investors. For me that is both good and bad since, as I stated, anyone can say they are a turnkey company and it has many so many meanings and for some, negative connotations.
I much prefer passive investment to the term Turnkey and when I am asked what my company does or I speak in public, the term passive investment company is much more preferred - by me - than to say I am a turnkey company.
@Chris Clothier is right in that defining "turnkey" is futile!
When I started out in this business I don’t think there was a definition for “turnkey property” or “turnkey investing”. I think for the most part people simply referred to turnkey property as “rent-ready property”, and turnkey investing as “passive real estate investing”.
Still today there is no formal definition of what a turnkey investment property really is. Most people, I think, have a basic idea of what it might or probably means, but judging from the questions I get from our investor clients, I can tell you that the definition is still rather nebulous.
If you ask 10 people what a turnkey property is, you’ll probably get 10 slightly different answers.
I have two definitions for what a turnkey investment property should be, but my most basic definition is:
“A safe, clean, and functional property that is completely rent-ready.”
Obviously, that's a good start but it's NOT enough.
"will tell you that defining Turnkey and what it should and should not be is futile. I have been trying to do it for years and it now has such negative connotations that we do not refer to our companies as Turnkey any more. We are identified with the term, but we try not to use it anymore because it has so many meanings. "
you exactly refer to your company as 'turn key' 3 times on your companies main internet page.
It really annoys me that you'd reply to my post and make me look like i misread yours when you EXACTLY SAID you don't use it anymore. And you EXACTLY use it on your own main page. Being 'identified with the term' sounds like other people on their pages or articles call you that. That's not the same as: we use the term in our marketing materials but never say it out loud.
