My wife and I are planning to invest in the US by buying a property with this company: Turnkey Real Estate Investments. The owners for this company are Lior Cohen & Arnold Porter. I've googled their names and also the company with the word scam just to make sure but nothing comes up. I've also tried BBB and it's the same thing. Is there any other way to make sure that this company is legit? I would appreciate if there is anyone there who can give us some pointers before we do this investment.
Welcome to BIggerPockets @Ricky De Castro ! What you have found in BP is a great resource and you are starting off well.. Good job posting questions like this one. If you have any questions about navigating the site or how to get things done on BP be sure to post them. Tons of really good people on here to help.
As for your question, start by asking to speak to some of their clients. Whomever they share with you, will most likely give some really nice reviews and everything they say may be true. A couple of hints on what to ask:
How long have they been investing with the company?
How many properties do they own?
Who does the management? Are they a third party hired by the TK company to provide service? (that can raise anxiety for you later on)
What happens when there are issues? Does the TK company stay involved and try to help?
Those are just a few basic questions that have nothing to do with returns or numbers and everything to do with how you are going to be treated.
One more tip - if the customers they give you all give really good testimonials, call the company back and ask for a customer who has had issues. Someone who may not have had the perfect experience. Tell them you want to hear how they handle problems for their clients.
If they cannot locate someone who has not had a perfect experience, then I would suggest you keep looking for another company.
Best of luck to you Ricky as you get started and again, welcome to BP!
They are merely a referral service that will put you in touch with their network of Turnkey suppliers. I've not done any business with them, so cannot vouch for their legitimacy, however, have met them both and they seem like genuine guys.
The good news is, there is nothing you can't verify about a turnkey property. Regardless of who is selling it or pushing or whatever....ultimately it's about the property you are buying. As long as the property is verified and the track of funds is legit, it really doesn't matter who these people are.
Now if they were/are scammers ("they", as in whoever you are dealing with), they would likely try to take your money for something that doesn't really exist, or try to pull over you a b.s. rehab job, or sell you a property with a dirty title, etc. But you can verify all of those things, so if all those check out, it really doesn't matter who those people are--the property is what matters.
If that makes sense? Granted a good property will probably come from good people, but you could still get a good property from bad people....technically....and be fine.
Maybe this will help some?
@Ricky De Castro What market are they in?
Thanks everyone. We really appreciate all the advice.
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