Anyone have any experience w/Missy McCall-Hammonds?

Question

Anyone have any experience dealing with Missy McCall-Hammonds of Retire With Real Estate in Ohio? She's a turnkey operator in the Butler County area.

Oleg Serdyuk · Answer

I had  horrible experience with Missy McCall.  Never gonna deal with them again.

PM if you would like to know details.

Eleena de Lisser · Answer

@Tushar Shah No, I didn't, and I don't have any insight to share. Sorry.

Tushar Shah · Answer

@Eleena de Lisser Hey Eleena, Just wanted to check if you ended up investing with Missy McCall? I was recently referred to them and wanted to connect with someone who had worked with them.

Thanks.

Rick Renner · Answer

I have experience working and investing with Missy McCall-Hammonds of Retire With Real Estate in Ohio. I have invested in several properties over the years going back to 2008, and have never had any problems with her company and would not hesitate to invest now, all of her investment property offerings for me have turned out as promised. Missy is very easy to work with and detail oriented, she sells and manages both cash flow and turn key investments in the Butler county area of Ohio, which is ahead of other parts of the country in terms of demographics. Important items are handled in real time and all of staff is experienced and knowledgeable. Missy will go over the details of her investment plans so that any investor can make the best decision for them.

Andy Luick · Answer

No, I never heard of her but I'm sure she's never heard of me either!  However, I'm not marketing myself as "one of the most highly recognized and revered names in real estate investment industry today."  I don't much about the Ohio market outside of Shaker Heights which was often touted as the "next" big market by turn-key folks...and it is a pretty neat area with tight architectural controls.  First off, I would hardly ever buy a 3/1....I always want at least 3/2s.  2nd, you can sniff around and buy properties in Hamilton, OH for as low as $12k...so why pay nearly $90k for a "renovated" but unrented 3/1 that she is selling.  Take a look at econohomes.com or housingblock.com to get a feel for what's available in the markets she is selling in.

She might be really great at what she does....each of us here will have a different view.  Her properties IF they are rented will run at about 1% of purchase price which I'm fine with but most here would say 2%.  She has a house on Twinbrook in hamilton that looks like she's buying for around $42k...fixing it up and selling it off for $87,900.  Not sure how much rehab is involved but it looks like the way to retire with real estate using this model is to probably be a part of her buy side from the get-go and not the purchase of a rent-ready property. For an end-buyer, her 30% returns are achieved as cash-on-cash, using a loan for leverage and taking depreciation.  Some models like my own look strictly at net cash returns without financing or depreciation.  The models are all different but there are a ton of turn-key operators marketing very high returns that are only achieved with financing and IF the property stays rented at the rates stated.  Doesn't always work out that way.  I always like to ask myself, if it doesn't work out what could I sell it for as-is without a tenant?  Just so I have a mental worst case.  I'm sure some better minds than my own will analyze her property financials and give you their read.

Are you new to real estate?  what are you goals and what are you hoping to achieve with a purchase?  Just take a hard look at the model and see if it makes sense for accomplishing what you'd like to do.  I like operators who either have some risk in partnering with me or who a financial interest in my success beyond the initial sale.  Check with some other real estate agents in her market and see what things are truly selling and renting for.  I'm not sure what her "science" is for landlording but I'd want to find out to avoid buy a $90k paper weight.  Certainly share what you learn about this with BP.  Happy Investing!

Eleena de Lisser · Answer

She's in the Cincinnati area. Butler County, Ohio.

Engelo Rumora · Answer

@Eleena D.

What areas does Missy work in?

Thanks