New Guarantees for Turnkey Investors

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New Guarantees for Turnkey Investors

Account Closed
Miami, FL · Member since 2014 · 125 posts · 7 votes

Properties starting at only $30k. 

Free Property management for 1 year. 

Immediate Rental Income

Up to 65% Financing - No Credit Check, No Personal Guarantee

12 Month Home Warranty

45 Day Rental Guarantee for newly renovated non-tenanted properties 

6 Month Tenant Guarantee for tenanted properties

http://investorincomeproperties.com/

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

Properties starting at only $30k. 

Free Property management for 1 year. 

Immediate Rental Income

Up to 65% Financing - No Credit Check, No Personal Guarantee

12 Month Home Warranty

45 Day Rental Guarantee for newly renovated non-tenanted properties 

6 Month Tenant Guarantee for tenanted properties

http://investorincomeproperties.com/

Nice guarantee mate

Check out ours:

http://www.ohiocashflow.com/#!guarantee/c110h

We didn't do a 1 year rental guarantee as we know that might scare of many investors due to the perception being that our margins are so BIG that we could have a vacant property for 2 years and still make a profit lol

Unfortunately this has been done by many in the past so I don't blame most folks for perceiving such things.

Just doing our best to take the "Stigma" out of turnkey Real Estate lol

Thanks

Podcast Guest on Show #89
Oz Realty4.5367 Reviews
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  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    11y

    Selling $30k turnkey homes you have to give free 1yr warranties, rental guarantees, property mgnt etc.... bc they are probably in ultra terrible areas!!!  

    Curt Davis - KAIZEN Realty538 Reviews
    WebsiteView Page
    1Reply
  • Account Closed
    OP
    Miami, FL · Member since 2014 · 125 posts · 7 votes
    11y

    Many of our properties are an A to B rated neighborhoods.  Maybe you should look at our listings.

    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    11y
    Originally posted by @Account Closed:

    Properties starting at only $30k. 

    Free Property management for 1 year. 

    Immediate Rental Income

    Up to 65% Financing - No Credit Check, No Personal Guarantee

    12 Month Home Warranty

    45 Day Rental Guarantee for newly renovated non-tenanted properties 

    6 Month Tenant Guarantee for tenanted properties

    http://investorincomeproperties.com/

    Nice guarantee mate

    Check out ours:

    http://www.ohiocashflow.com/#!guarantee/c110h

    We didn't do a 1 year rental guarantee as we know that might scare of many investors due to the perception being that our margins are so BIG that we could have a vacant property for 2 years and still make a profit lol

    Unfortunately this has been done by many in the past so I don't blame most folks for perceiving such things.

    Just doing our best to take the "Stigma" out of turnkey Real Estate lol

    Thanks

    Podcast Guest on Show #89
    Oz Realty4.5367 Reviews
    WebsiteView Page
    2Reply
  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    11y

    @Account Closed

    I will admit some of your homes do look very nice, especially the one at 1428 Oakwood.  Nice looking rehab.  

    Curt Davis - KAIZEN Realty538 Reviews
    WebsiteView Page
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    @Account Closed 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
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    0Reply
  • Account Closed
    OP
    Miami, FL · Member since 2014 · 125 posts · 7 votes
    11y

    Looking forward to having our properties and services being compared to other providers on your website.

    0Reply
  • Jeremy Vogan
    Investor · Staunton, VA · Member since 2014 · 42 posts · 1 vote
    11y

    Aaron: Curt likes to talk smack but once he sees you're for real, he does give you credit.

    Compare to mine!

    http://www.biggerpockets.com/forums/517/topics/174...

    JV

    0Reply
  • Andrew Cordle
    Real Estate Consultant · Alpharetta, GA · Member since 2014 · 661 posts · 400 votes
    11y

    @Jay Hinrichs 

    Hey I know you are getting tons of ideas thrown at you for your website, and I know you are only 3 weeks live. 

    But one thing that may help a lot of people is some kind of grading scale of areas. Meaning everyone talks A -- B --- C areas, but it seems like everyone is all over the board. Above, @Account Closed is defining an A and B neighborhood for turnkey rentals that are selling in the 50s to 90's price range. And that very well maybe an A or B area in his area of Ohio. But when I hear the word A area I think of where I am in ATL that A area for a rental... is easy 250k plus. Samething with @Curt Davis above is Memphis an A area or B area or C area. I have no idea and Curt would have a way better concept than I would. But I wish in the turnkey there was some kind of like standard or something. Where to say A or B or C certain things have to apply.... 

    I don't know. Just a crazy idea I am sure you are getting bombarded with stuff right now. So throw this on the back burner.

    Lastly, @Account Closed  and @Curt Davis  I want to make my comment clear. I am NOT saying that your area is not A or B or whatever grade I do not know what grade it is. So I am not trying to judge your area it would just be nice if there was a accurate playing field for everyone. 

    AC

    0Reply
  • Account Closed
    Real Estate Investor · San Antonio, TX · Member since 2014 · 785 posts · 190 votes
    11y

    do you have turnkey provider warranty provided on your site jay? Sounds like a good idea to me. 

    0Reply
  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    11y

    @Andrew Cordle

    No offense taken.  I think it will be difficult to ever truly grade areas as each market can be different and it is always a personal opinion.  To me in y market, your in an A area if your over $100k, B is $80k - $99k, C is $79k - $60k and D is $59k and lower.  Now this is not to say you cant get a nice house in a D area but the area might be a little more questionable.  

    Other providers sell homes in different ranges then we do based on the rent.  You have other markets like in Ohio where guys are selling homes for $55k that supposed rent for $850.  To me an $850 home would be in a solid C+ area but the prices tells me its a D area.  I dont know that market so I dont know, just comparing so this is how you can see grading systems are flawed.

    Curt Davis - KAIZEN Realty538 Reviews
    WebsiteView Page
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    @Curt Davis 

      maybe you grade the tenants  not the properties.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    11y

    @Jay Hinrichs

    That can also be tough as in many cases the neighborhoods dictate the rent and with a rent range you can usually expect a certain type of tenant.  What can throw this off is when a home that would normally rent for say $750 gets a section 8 tenant for $895.  For the TK provider this is a dream scenario bc they can then sell the home for more but in reality the tenant will leave like they all do and reality will set it soon enough and leave an investor disappointed. 

    Even if someone who is well respected on BP or anywhere came up with some type of grading scale system, TK providers will still have their own take and thus the cycle of differences continues.  

    Curt Davis - KAIZEN Realty538 Reviews
    WebsiteView Page
    0Reply
  • Account Closed
    OP
    Miami, FL · Member since 2014 · 125 posts · 7 votes
    11y

    Most of the properties we have were built prior to 1985 but they are renovated and move in ready. Although we do have a few properties that were more recently built we don't have a lot of volume. The net ROI on our properties is anywhere from 10 to 19% with strong guarantees.

    0Reply
  • William Robison
    Real Estate Consultant · Kansas City, MO · Member since 2013 · 388 posts · 200 votes
    11y

    Reposted from a reply I made in 2014 on similar topic.  

    Defining a property by class, such as A, B C or D is nearly impossible. Each person will have their own definition of the differences between the properties. To someone that buys brand new fourplexes, that is considered an A prop, but that same person will think that a 10 year old building may be a B prop in the same area.

    We label houses in terms of 4/3/2 meaning a property with 4 bedrooms, 3 bathrooms and a 2 car garage. I believe that our industry should coin a new metric of similar distinction. Rather than simply an arbitrary property class based upon a single individuals perspective, I think there should certain elements placed into this new metric.

    For example:

    The first number could be a reflection of greatschools.org number for the school rating. In Riley's example, he has a property in a 6/10, so the first number would be a 6.

    The second number could be a reflection of the age of a property, since this will have a impact on repairs into the future. A new building would be a 0, and 100 year old build would be a 10. At 40 years old, a 4.

    The third number should be a reflection of the economics of the immediate area. Zip code based or even narrower if possible. Say a community has an avg household income of 50998 and the overall greater market area has an avg of 41877. 50998/41877 gives a property a 1.2 rating in economics.

    A fourth number could be the rent rate versus to community average. Say a property brings in $695 rent and the market area average for a 2 bedroom from rentometer.com has an average of $577, that would mean that the subject must have some superiority to the average in that community. In this example, 695/577 is 1.2.

    So, given these examples, this property would be rated a 6/4/1.2/1.2 as reflected by schools/age/economics/rent.

    Certainly this metric could include a lot more data, but simplicity is the key. This metric could also be adjusted to better suited analysis and is just what my mind could come up with at 6am this morning.

    All the best with everyones investments.

    1Reply
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