New Site for TurnKey Reviews - Check it out and give your feedback

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New Site for TurnKey Reviews - Check it out and give your feedback

Brie SchmidtBusiness Member
Moderator
Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes

@Jay Hinrichs  and I have been working hard at this over the past few weeks, and while the site is not ready for a full launch, we would like the feedback from the community.

We created the website www.turnkey-reviews.com as a place for turnkey buyers or out of state buyers to be able to rate their experience with turn key providers. The ratings are based off of:

  • Communication
  • Rehab Quality
  • Property Management
  • Accuracy of Numbers
  • Overall Experience

Other turnkey buyers can read the reviews and make an informed buying decision as well as be able to communicate directly with the TK companies.

The site is not fully launched so you will notice "DEMO" on a lot of things but your feedback is greatly appreciated and if you have ever bought a turn key property feel free to leave a review!

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y

@Brie Schmidt Great Job Brie,   I think this will really help the BP community when thinking of Turnkey  investing  ,, there is a lot of Turn Key options.. And of course a day does not go by when one ask's about investing out of state... Over time we will have all the major turn key markets identified  markets including  but not limited to ,, Memphis, Dallis, Houston, Chicago, Philadelphia, Cleveland, Toledo, Columbus, Cincinnati, Birmingham, Atlanta, Las Vegas, Phoenix, Orlando, Jacksonville, Charlotte, Kansas City,  etc etc.

One stop shopping for buyers and past clients to evaluate markets compare the difference's and see how each Turn Key operator handles their particular market. 

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  • Brandt Tingen
    Rental Property Investor · Washington, DC · Member since 2014 · 94 posts · 12 votes
    11y

    This is a really great idea Brie, and the site looks amazing.  Quick question, when do you sleep?! LOL.  Please let everyone know when the site goes live!

    0Reply
  • Ryan Mullin
    Real Estate Broker · Indianapolis, IN · Member since 2009 · 575 posts · 496 votes
    11y

    Very cool...   so if I own a company listed should I "claim" the listing?  

    0Reply
  • Brie SchmidtBusiness Member
    Moderator
    OP
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    11y

    @Brandt Tingen - I don't know!  It has been a crazy few months!

    @Ryan Mullin - Yes, you can claim the listing and "get verified" or users can also post companies I missed

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  • Larry Fried
    Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    11y

    @Brie Schmidt 

    Brie and @Jay Hinrichs As an investor in turnkey properties myself, I think this is a great idea.  In looking it over a couple of questions come to mind.  First, how will you verify the reviewers are actual investors that have experience with the company being reviewed? As you probably know fake reviews on products (positive and negative) from books to appliances are a huge problem.  Second, how will you promote the website so that a critical mass of investors are drawn to it to give their reviews and others to read them? What is the biz model for sustainability.  Is the list of properties to be something from different companies, and you will charge fees to post?  

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    @Brie Schmidt Great Job Brie,   I think this will really help the BP community when thinking of Turnkey  investing  ,, there is a lot of Turn Key options.. And of course a day does not go by when one ask's about investing out of state... Over time we will have all the major turn key markets identified  markets including  but not limited to ,, Memphis, Dallis, Houston, Chicago, Philadelphia, Cleveland, Toledo, Columbus, Cincinnati, Birmingham, Atlanta, Las Vegas, Phoenix, Orlando, Jacksonville, Charlotte, Kansas City,  etc etc.

    One stop shopping for buyers and past clients to evaluate markets compare the difference's and see how each Turn Key operator handles their particular market. 

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    @Larry Fried 

      good questions.. like trip advisor you can get a sense .. And you will always have the nay sayer... this will give the Turn Key provider a chance to address clients concerns or issues and or their operation.. It will also allow buyers direct access to Vendors through out the US ... AS opposed to now were you must hunt and peck and google search etc.. then post on a site like this if anyone has any experience with a certain company.. IN 20 minutes the buyer can look at 50 different companies and then start to narrow down their search.

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  • Roy N.Pro Member
    Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
    11y

    @Brie Schmidt & @Jay Hinrichs 

    I like the idea.   I find portions the terms & conditions of use objectionable, but the idea has legs.

    0Reply
  • Brie SchmidtBusiness Member
    Moderator
    OP
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    11y

    @Larry Fried there is a system in place for fake reviews.  We do have some ideas on marketing but have not launched the site officially so we are exploring those options now (suggestions welcome)  

    @Roy N. Those are standard T&C used in the US for review sites.  

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  • George Foster
    Residential Real Estate Broker · Streamwood, IL · Member since 2013 · 93 posts · 51 votes
    11y

    @Brie Schmidt  I think this would be a great idea especially for our Chicago investors meetup participants.

    1Reply
  • Mark AinleyBusiness Member
    Property Manager · Roselle, IL (Chicago Suburb) · Member since 2013 · 2k+ posts · 1k+ votes
    11y

    @Brie Schmidt I love the innovation!!  Nice Job!!!

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  • Brie SchmidtBusiness Member
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    OP
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    11y

    @George Foster Thanks!

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  • Brie SchmidtBusiness Member
    Moderator
    OP
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    11y

    @Mark Ainley Thanks!

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  • Roy N.Pro Member
    Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
    11y
    Originally posted by @Brie Schmidt:

    @Larry Fried there is a system in place for fake reviews.  We do have some ideas on marketing but have not launched the site officially so we are exploring those options now (suggestions welcome)  

    @Roy N. Those are standard T&C used in the US for review sites.  

     Brie:

    My objections are to the exclusive and irrevocable right to use, distribute, adapt, etc. particularly without the acknowledgement of the author's ownership and inherent rights.   

    If one of your objectives is to attract international turnkey buyers - some of whom will hail from jurisdictions where such an implicit stripping of personal rights is unheard or perhaps not even legal - you might want to rethink your T&C.

    Bigger Pocket's Terms and Conditions would be a good read as a starting point as they are more balanced ... not ideal, but realistic.

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  • Brie SchmidtBusiness Member
    Moderator
    OP
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    11y

    @Roy N. thanks for the feedback.  I consulted with lawyers who are familiar with  international review sites T&C but I will have to dig a little deeper on this.  

    There is to intention to distribute or adapt any reviews, in fact, we can not alter any review in any way

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  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    11y
    Originally posted by @Brie Schmidt:

    @Jay Hinrichs  and I have been working hard at this over the past few weeks, and while the site is not ready for a full launch, we would like the feedback from the community.

    We created the website www.turnkey-reviews.com as a place for turnkey buyers or out of state buyers to be able to rate their experience with turn key providers. The ratings are based off of:

    • Communication
    • Rehab Quality
    • Property Management
    • Accuracy of Numbers
    • Overall Experience

    Other turnkey buyers can read the reviews and make an informed buying decision as well as be able to communicate directly with the TK companies.

    The site is not fully launched so you will notice "DEMO" on a lot of things but your feedback is greatly appreciated and if you have ever bought a turn key property feel free to leave a review!

    Well done guys,

    Love the idea :)

    Have a great day.

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  • William Hochstedler
    Broker · Logan, UT · Member since 2013 · 1k+ posts · 1k+ votes
    11y

    Great idea and nice site.

    A few thoughts:

    • Perhaps an informational section with some content with tips on how to assess a market, screen a pm company, etc.
    • Allow reviewers to rate other reviews: "Was this review helpful?" type of thing
    • I like sites where comments on (or replies to) specific reviews nest instead of post as separate linear reviews.  Is this feature available?

    Well done!

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    1. Account Closed
      Indianapolis, IN · Member since 2013 · 210 posts · 149 votes
      11y

      @Jay Hinrichs @Brie Schmidt 

      Let me start by saying I really like what you are attempting to do. It's a great idea! I completely agree with this. Disclosure: I do not own a TK company but I have interest in one. 

      When I went to your site there are a few things that came to mind: 

      1. Will you be asking these companies permission to be on your site?

      2. Will you allow companies to opt out? 

      3. Are you going to allow TK companies to advertise on this site? If so, would that cause a conflict of interest? 

      4. Here is an example of what may or may not happen. Lets say you put XYZ company on this site and they have no knowledge of this site. Now XYZ is not the best company but yet not the worst and they go out of business do to the bad reviews that are put on here. If XYZ company finds out that one of the reasons for their demise is do to this website, do you think that they may have some recourse against your site? I believe they would. 

      Now I know that my example is stretching it but there is that slim chance that it could occur.  

      Just somethings that I thought I would pass along. 

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    2. Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      11y

      @Account Closed 

        We plan on inviting any and all TK companies that want to participate, at this point we would not put up a company unless they wanted to be listed.

      As much as anything we want this to be an aggregator site.. where the potential TK buyer can go to one site and see 25 to 50 different turn key companies compare them and then start shopping. 

      In my preliminary discussion with some turn key out fits they are quite excited about it.. I think it gives them a chance to show case their wares  and allows buyers a chance to deal directly with them as well.

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    3. Brie SchmidtBusiness Member
      Moderator
      OP
      Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
      11y

      @William Hochstedler - We were intending on adding a page of articles and information on buying turn key - but I also really like the idea of the market specific information.  I think that is a great idea.

      As far as the comments, you can "vote" it as "helpful" and once we get enough reviews on the site you can also search my most helpful.  

      When you say "nest" is this what you mean?

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    4. Account Closed
      Indianapolis, IN · Member since 2013 · 210 posts · 149 votes
      11y

      @Jay Hinrichs 

      Thank you for the response. Those were just some of my thoughts. No right or wrong. 

      I see great potential for turn key companies along with the buyers with this site. I think it can do a lot of good. I wish there was something like this when I started. It would have saved me a lot of time and research. 

      I also see another potential to this site and that is TK companies also buy properties to turn into turn key. So essentially your site will also be providing cash buyers to. 

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    5. William Hochstedler
      Broker · Logan, UT · Member since 2013 · 1k+ posts · 1k+ votes
      11y

      @Brie Schmidt 

      I may be thinking more of a tech forum post format than a review site, but my thought was that if an operator responds to a review or comment, it is obvious that it's a response rather than a stand alone post (like this forum where we use @'s and quotes to reference another post) but the thread remains linear.

      For example (if this works) :

      1. Review 1
        1. oReview 1 response
          1. §Response to Review 1 response
        2. oReview 1 response
      2. Review 2
      3. Etc

      Hope that makes sense.

        0Reply
      1. William Hochstedler
        Broker · Logan, UT · Member since 2013 · 1k+ posts · 1k+ votes
        11y

        Didn't work.

          0Reply
        1. Jay HinrichsBusiness Member
          Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
          11y

          @Account Closed 

            Your sentiment is echo 'd by many who have contacted Brie and myself.. IE TK buyers. they are not posting because they are not paid members and cannot post on the Marketplace. I personally think this site will be at maturity one great site with a lot of up to date data and will save potential buyer of TK  a lot of time and help them choose wisely.

          I think the top tier Turn key seller will want to be on the site. If your giving a great product and service why not let buyers know about it and let your product and your service stand out.  That's my thinking.

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        2. Account Closed
          Indianapolis, IN · Member since 2013 · 210 posts · 149 votes
          11y

          @Jay Hinrichs 

          I couldn't agree with you more. Once you are fully up and running I will let others know thorough the FB pages that I am on and other sites. 
          Keep me posted. 

          0Reply
        3. Jay HinrichsBusiness Member
          Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
          11y

          @Account Closed 

            Brie posted over on the Forums this morning if you want to make any comments that the general membership would see please feel free

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