Turnkey company experiences?

Question

Hello, I am looking to 1031 a couple of STRs to LTRs. I have had a discussion with reps of Rent to Retirement and REI Nation, both of whom were great. I wanted to ask if anyone had first-hand experience with either, or preferably both, and would be willing to share information.

I know they are different models, and I’m looking for more passivity in the investments, but I’m also interested in multi-family. Thanks for any opinions.

Dave Foster · Answer

@Richard White, We've had the opportunity over the years to work with all three of these mentioned.  Individual experience will be key.  But we've had no issues with any of them and their interface with 1031 exchanges.  I think @Natalie Nixon and you are thinking the right way - Find the sector that works for you.  And then find the rep that fits with you.  And you'll be fine.  There are a lot fly-by-nighters out there.  That hasn't been my experience with any of these.

Natalie Nixon · Answer

Hi Richard,Great question. I work in the turnkey/LTR space, so I’ll avoid making this a pitch, but I do think your question is the right one to ask, especially coming from STRs and looking for more passivity.The biggest thing I’d compare is less “which company is best?” and more:

• Who actually owns each step of the process?
• Who is responsible if leasing, rehab, underwriting, or management doesn’t go as expected?
• How conservative are the rent, vacancy, maintenance, and capex assumptions?
• What does communication look like after closing?
• Are you buying based on projected performance or actual/near-term stabilized performance?
• For a 1031, how much inventory control do they have if timing gets tight?

Both companies are active in the same broader turnkey/LTR space we’re in, so I’d focus on understanding the model, assumptions, and post-close support. A good property still depends heavily on the team and process behind it.