Anyone use REI Nation and/or Rent to Retirement?

Question

I found a BP post while reseaching REI Nation, and based on that post they are the kind of people I would WANT TO WORK WITH, but I have also worked with Rent to Retirement.  We have a rental we self manage in Nevada, and we purchased another through Rent to Retirement about 6 months ago.  So far, everything has been as expected. Yes, 1 or 2 small expences we didn't expect but they were small.  We also hired our own property inspector before we closed to ensure the house had a good working AC and etc (both houses are in hot and humid climates).  We keep insurance, home owners warranty and a budget to help cover all the unexpected; 'cause I never want to be a slum lord.

I am curious to learn more about investors' experiences with REI Nation.  So far we have had a great experience with RTR, but we are in the Dallas area.  As a general rule we look to buy homes in areas we would want to live in (not C or D class neighborhoods, and not lipstick on a pig rehabs).  At the moment, we are likely going to buy another rental through RTR in the next 6-12 months (maybe sooner), but I just want to do a little more research into the "turn key rental space" before we jump into our next purchase.

I know there are other turnkey rental providers out there.  Has anyone worked with them (REI Nation or another company)? And if so, what did you like most/least about working with them?

James Wise · Answer

My experiences in working with Rent To Retirement have all been positive. They shoot folks straight and if there are problems, they work to address them in a reasonable manner. Ya really can't ask for anything else in this biz.

Bruce Lynn · Answer

You don't need turn-key companies.  Typically they're going to tell you what you want to hear.  Want a 1% rule house, they have them.  In DFW area that normally means D and maybe C area, older homes like from the 1950s and 1960s.

No reason you can't find and manage your own or hire 3rd party PM if you want to give up return for being hands off.

You also have to think about who's getting the equity when you are buying turn-key.  Is it you or the turn key company?

Plenty of people like these companies, and they fill a space for sure, but after 25 years or so, selling and investing and probably going in 10,000 foreclosures and probably another 10,000 or more new/resale homes, I truely believe NOTHING is passive and if you try to treat it as passive either your returns will be super low or you will have lots of other expenses and issues.My other advice with these or any company or any realtor is make sure you go visit the house in person.  No online pictures, no google street view, no inspector report will probably ever resolve many issues of seeing it in person.Good luck and best wishes.

Nicole Sheehan · Answer

I have a rental in the Dallas area with REI Nation. Feel free to PM me and I’ll share my experience.

Anyone use REI Nation and/or Rent to Retirement?

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