Norada Real Estate?

61 Replies

All,
I bought a Jacksonville SFR ( a new construction) through Norada introducing me to JAX investments.

Since it was a new construction, All Norada did was to introduce me to Jax investment. There was not much interaction from Norada..

The project was delivered end of June and Tenant placed with in 3 weeks.
No issues so far, except Suncoast PM is a little slow in responding to my queries.. apart from that no issues..

I am not sure this feedback helps anyone, but putting out there..

Hi @Sastry Srini -- Thanks for your post.  We value all feedback to help us monitor and improve our company as well as the service providers we work with in every market.

Our Jacksonville provider is very hands-on. They strongly prefer to take the "ball and run with it".  Not one of our typical providers, so they put us in the passenger seat on many of their deals.  However, that does not mean we are not working with them in the background.  Our transaction coordinator is often processing paperwork and coordinating various due diligence items.

BTW -- please keep us posted on Suncoast Property Management please.  We clearly want to know how they perform and work with you.  Again, your feedback will be important to us and for our other clients.

Glad your transaction has been smooth.

Continued success!

@Sastry Srini Just curious -- was this your first rental purchase or just the first in the Jacksonville market?

What made you choose Jacksonville? 

I've purchased 3 in Indianapolis through Norada. Great experience.

It is a first in Jacksonville.. I have one more locally.

Jacksonville- warm weather ( Long time resident of MI)
Was looking for a new construction .. < $180k, possibly retire in ..
Long term buy and hold..

Why no cap ex??? If you were selling them why would you list it? It just too hard to estimate it.

It's like why would a car dealership list the sticker price if no one in their right mind does it. It's because every other turn key provider is doing it and inflating the numbers. You as the buyer has to have a baseline level of knowledge before you are ready to buy.

That said Marco Santarelli is a good dude

@Lane Kawaoka
I am not sure if your comment was regarding my post.. either way, that was my internal criteria and was not shared to TK provider..

Either way, thanks to BP resources which helped me to run the numbers.. the property has positive cash flow and coc ~ 7%

I was just sharing my experience with Norada here on BP.. Norada was helpful in getting me started..

I tried Norada a couple of years ago in the suburban Atlanta market.   Mike was the person that was helping me and he is great.  Since I was going to be in Atlanta on business; per my request, Mike arranged for me to view the 3 properties that I was considering.  Unfortunately, the provider in Atlanta was on vacation,  one PM never returned my call, and the other two PMs were no-show.  Two days later, I contracted on two new construction homes and closed three weeks later.  Just my two pennies.

Thanks for your comments @Theresa Minifield .  It's too bad the provider was on vacation.  They should have arranged to have another one of their staff meet you.  Simple.  As far as those property managers, we "fired" them.  ;-)

Congratulations on your investments.

Continued success!

@Marco Santarelli Hi Marco.. I just filled out your contact form with my information. I would be interested in speaking with you when you get a chance. Thanks

Good morning @Ben Goodall .  It's 12:30 am and I'm getting ready to fly to Kansas City in 7 hours.  :-|

I saw your email come in, and Ron Manabat has been 'assigned' to you as your Investment Counselor, so you can expect an email from him by Monday.  I'll be back from KC on Thursday night.  We're both here for you, so don't hesitate to reach out to me.  I'll talk to Ron tomorrow as well.

Have a great evening.

Continued success!

Excellent info. I've never heard of a service like this before. Do you know of any other companies that provide turn key investment opportunities?

Disclosure: Turnkey Provider

Originally posted by @Patrick Hartley :

Excellent info. I've never heard of a service like this before. Do you know of any other companies that provide turn key investment opportunities?

 There are a lot out there. While you are searching, you should check out:

The Best Types of Markets for Profitable Turnkey Properties

and

What to Ask When Working With a Turnkey Provider

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