RentToRetirement.com Review - Beware of this scam

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

2y

your not buying from them.. THem is just like Remax or C 21..

not sure why you think anyone has to warranty a refer thats weird.

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JLH Capital Partners51 Review

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2 Reply

Nate Marshall

Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes

2y

Quote from @Vivan Bhalla:

Hi all,

So I was reviewing a list of reviews given by people on RTR (Rent to retirement) and was surprised to found not even one negative, which made me think of my experience and I decided to write a review so as to save people from this scam.

I came across RTR in 2022 through a referral, I researched their reviews and decided I will use them for my first real estate investment which is a turnkey property. I saved some money and decided to pull the plug in April 2024. They identified a property for me and sent me a house in Akron, OH. The point of contact for me was Adam. He gave me some pointers on how Akron is an upcoming city and investment here will be very good. They told me about this area Kenmore which is the next area to be transformed by the city and my investment will be very fruitful. I decided to go on with the property in Kenmore and went through the process. The seller was Steve Yoak from Yoak enterprises who bought the house and renovated it. I was told his work is the best and all his houses are top notch quality, I trusted their word thinking that things will come up in appraisal as well as inspection. the inspection was good, nothing negative was on the inspection, the appraisal was also correct. I was very happy but little did I know the worst was yet to come.

Steve Yoak got me in touch with KS Yoak enterprises who he said was his uncle and PM. RTR told me I should take them as they are good. I finalized the property on May 3rd and they told me they already have a tenant ready to move in (they did not take my approval or anything or even informed me their background). I was super happy. I thought this is so smooth. I got my first rent cheque in june for may rent and everything was good. From mid july I started noticing I have not received any deposits and I thought it might be a delay since it is a new property. Late july I tried to check in with KS yoak and they were confused. After 1-2 weeks they told me the tenants stopped paying rent after the first month. For the next 6 months, I had to deal with the incompetent behavior of KS yoak who could not solve my tenant issue and they had no idea what was going on. After I raised this issue with RTR, they knew they fu*ked and they paid me some money as compensation and asked me to stay quiet and not post anything negative (which I am clearly not doing). Till April 2024, I was the one who managed everything with the tenant and got all the rent and made them pay back. KS yoak basically made the situation worse. I cancelled their contract and when I asked them the security deposit be mailed to me in NJ, they sent the security cheque to some address in Philly. Overall, it was the most stressful investment I had.

Coming to 2024, I decided to sell this property as I am done with this headache. I bought it for 135k and the realtor is saying it will go for max 125k. The property has so much issues now, the basement which Steve Yoak worked on has openings and there are rodent issues. the air conditioning does not works, the house is having other issues with fridge as well. It is shocking that this TURNKEY PROPERTY is anyhing but turnkey.

Overall, I would very much avoid anyone who is using them. They are a scam and they make the most money. I know I am at fault here too that I trusted them blindly. I would appreciate people who can help me on what I do with this property.

Thanks for reporting this. Unfortunately this is happening a lot lately. People deserve better. Working on something to help those affected.

1 Reply

Ivana Ivanovic

Member since 2021 · 19 posts · 22 votes

2y

Quote from @James Wise:

Quote from @Vivan Bhalla:

First, my name is Vivan, not Ivana. Second, you’re just twisting the conversation rather than understanding the real issue here. I did my due diligence, but when a company markets itself as a turnkey property expert, they should ensure the property is solid and their affiliates are reliable. If their process is just, ‘here’s the house, now it’s your problem,’ then they’re clearly not delivering what they advertise. I’m sharing my experience so others can avoid the same issue.

Vivan, I am aware your name is not Ivana. If you look closer you will see that there is another poster in this thread named Ivana who I was speaking to. Attention to detail is important in this business. Moving forward, I suggest you prioritize attention to detail.

Ivana here. You quoted Vivian, aka directly responded to her. So naturally she is confused (I read this by coincidence).

And also, I completely disagree with you on all your points. Vivian is entitled to a review, and I thank her for it.

1 Reply

James Wise

Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes

2y

Quote from @Ivana Ivanovic:

Quote from @James Wise:

Quote from @Vivan Bhalla:

First, my name is Vivan, not Ivana. Second, you’re just twisting the conversation rather than understanding the real issue here. I did my due diligence, but when a company markets itself as a turnkey property expert, they should ensure the property is solid and their affiliates are reliable. If their process is just, ‘here’s the house, now it’s your problem,’ then they’re clearly not delivering what they advertise. I’m sharing my experience so others can avoid the same issue.

Vivan, I am aware your name is not Ivana. If you look closer you will see that there is another poster in this thread named Ivana who I was speaking to. Attention to detail is important in this business. Moving forward, I suggest you prioritize attention to detail.

Ivana here. You quoted Vivian, aka directly responded to her. So naturally she is confused (I read this by coincidence).

And also, I completely disagree with you on all your points. Vivian is entitled to a review, and I thank her for it.

Attention to detail folks.......

1 Reply

Vivan BhallaPro Member

OP

Member since 2024 · 28 posts · 38 votes

2y

Quote from @Account Closed:

To all reading this thread, I am the COO of RTR and responding on our behalf.
It's important to point out a few key facts in this case since this is not simply a review. Yes, making statements about being a "scam" and using profanity like this is both unprofessional and against BP forum posting rules. It certainly does impact our business for anyone considering using our services and there are many facts that are misrepresented or omitted.

RTR serves as a turnkey and new construction marketplace that researches various investment markets throughout the country and connects investors and sellers. We always encourage investors to conduct full due diligence on any property, team & market they choose to work with. We do our best to help set them up for success with many tools and resources made available to them. We also do our best to help navigate any issues investors may encounter throughout their ownership. After all, this is real estate, and it would be unrealistic to expect that things like tenant issues or other issues do not ever occur, even in TK or new construction investing.

Some notable items to understand:
1) This investor independently chose to move forward with this Akron property on his own. Our team discussed multiple investment options with him, including new construction homes in nice areas that likely attract better quality tenants. He had the opportunity to interview the seller and mngt prior to closing on the home and chose to work with them.
2) As always recommended, this investor conducted full due diligence by having an inspection and appraisal. As he stated, the inspection came back in good condition, and the home appraised at full value without any identifying issues at the time of purchase.
3) RTR was made aware of issues that the investor was experiencing with the tenant. We communicated both with this investor and mngt to help find a solution for a tenant that was struggling to pay rent. Over the past year, RTR has over 50 emails back and forth with this investor and mngt, attempting to sort out solutions. We have had multiple phone calls with all parties, and our owner has taken time to personally speak with him as well. During this time, this investor stated he was very happy for the support. Furthermore, while not obligated, RTR financially contributed to help this investor offset missed rents from the tenant, which it sounds like the investor later recovered from the tenant eventually. We also assisted to have mngt contribute thousands to the investor as well. A resolution agreement was signed and this investor notated that he was very satisfied with this outcome at that time.

In summary, RTR has been on BP for close to a decade now helping investors identify attractive markets across the country and build investment strategies to achieve their goals. We have an exceptional reputation that we have worked very hard to achieve. We know that we have helped more people than those dealing with challenges. No, we are not perfect like any business, and we always welcome feedback as long as it's constructive and professional. This is real estate investing and there are multiple variables that affect the performance and outcome of any investment property over time, both for the positive and negative. Anyone investing in real estate needs to be prepared for that.

It sounds like this investor was able to make significant progress with this tenant to get caught up. We wish him the best success with this property and his future in real estate. Despite this negative post, we are still willing to assist in any way we can, with the understanding that everyone interacts in a professional manner.

Grant McMillan, COO Rent to Retirement

You should read all the reviews others have posted. Looks like your usual method to pay people and make them sign NDA is not really working. The reviews are speaking for themselves

0 Reply

Nate Marshall

Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes

2y

Quote from @Vivan Bhalla:

Quote from @Account Closed:

To all reading this thread, I am the COO of RTR and responding on our behalf.
It's important to point out a few key facts in this case since this is not simply a review. Yes, making statements about being a "scam" and using profanity like this is both unprofessional and against BP forum posting rules. It certainly does impact our business for anyone considering using our services and there are many facts that are misrepresented or omitted.

RTR serves as a turnkey and new construction marketplace that researches various investment markets throughout the country and connects investors and sellers. We always encourage investors to conduct full due diligence on any property, team & market they choose to work with. We do our best to help set them up for success with many tools and resources made available to them. We also do our best to help navigate any issues investors may encounter throughout their ownership. After all, this is real estate, and it would be unrealistic to expect that things like tenant issues or other issues do not ever occur, even in TK or new construction investing.

Some notable items to understand:
1) This investor independently chose to move forward with this Akron property on his own. Our team discussed multiple investment options with him, including new construction homes in nice areas that likely attract better quality tenants. He had the opportunity to interview the seller and mngt prior to closing on the home and chose to work with them.
2) As always recommended, this investor conducted full due diligence by having an inspection and appraisal. As he stated, the inspection came back in good condition, and the home appraised at full value without any identifying issues at the time of purchase.
3) RTR was made aware of issues that the investor was experiencing with the tenant. We communicated both with this investor and mngt to help find a solution for a tenant that was struggling to pay rent. Over the past year, RTR has over 50 emails back and forth with this investor and mngt, attempting to sort out solutions. We have had multiple phone calls with all parties, and our owner has taken time to personally speak with him as well. During this time, this investor stated he was very happy for the support. Furthermore, while not obligated, RTR financially contributed to help this investor offset missed rents from the tenant, which it sounds like the investor later recovered from the tenant eventually. We also assisted to have mngt contribute thousands to the investor as well. A resolution agreement was signed and this investor notated that he was very satisfied with this outcome at that time.

In summary, RTR has been on BP for close to a decade now helping investors identify attractive markets across the country and build investment strategies to achieve their goals. We have an exceptional reputation that we have worked very hard to achieve. We know that we have helped more people than those dealing with challenges. No, we are not perfect like any business, and we always welcome feedback as long as it's constructive and professional. This is real estate investing and there are multiple variables that affect the performance and outcome of any investment property over time, both for the positive and negative. Anyone investing in real estate needs to be prepared for that.

It sounds like this investor was able to make significant progress with this tenant to get caught up. We wish him the best success with this property and his future in real estate. Despite this negative post, we are still willing to assist in any way we can, with the understanding that everyone interacts in a professional manner.

Grant McMillan, COO Rent to Retirement

You should read all the reviews others have posted. Looks like your usual method to pay people and make them sign NDA is not really working. The reviews are speaking for themselves

Snap!!! 100% right. The NDA's are clearly not working, We need to trade soke of these gurus and scammers for the hostages in Gaza.

0 Reply

Robert EllisBusiness Member

Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes

2y

Quote from @Account Closed:

To all reading this thread, I am the COO of RTR and responding on our behalf.
It's important to point out a few key facts in this case since this is not simply a review. Yes, making statements about being a "scam" and using profanity like this is both unprofessional and against BP forum posting rules. It certainly does impact our business for anyone considering using our services and there are many facts that are misrepresented or omitted.

RTR serves as a turnkey and new construction marketplace that researches various investment markets throughout the country and connects investors and sellers. We always encourage investors to conduct full due diligence on any property, team & market they choose to work with. We do our best to help set them up for success with many tools and resources made available to them. We also do our best to help navigate any issues investors may encounter throughout their ownership. After all, this is real estate, and it would be unrealistic to expect that things like tenant issues or other issues do not ever occur, even in TK or new construction investing.

Some notable items to understand:
1) This investor independently chose to move forward with this Akron property on his own. Our team discussed multiple investment options with him, including new construction homes in nice areas that likely attract better quality tenants. He had the opportunity to interview the seller and mngt prior to closing on the home and chose to work with them.
2) As always recommended, this investor conducted full due diligence by having an inspection and appraisal. As he stated, the inspection came back in good condition, and the home appraised at full value without any identifying issues at the time of purchase.
3) RTR was made aware of issues that the investor was experiencing with the tenant. We communicated both with this investor and mngt to help find a solution for a tenant that was struggling to pay rent. Over the past year, RTR has over 50 emails back and forth with this investor and mngt, attempting to sort out solutions. We have had multiple phone calls with all parties, and our owner has taken time to personally speak with him as well. During this time, this investor stated he was very happy for the support. Furthermore, while not obligated, RTR financially contributed to help this investor offset missed rents from the tenant, which it sounds like the investor later recovered from the tenant eventually. We also assisted to have mngt contribute thousands to the investor as well. A resolution agreement was signed and this investor notated that he was very satisfied with this outcome at that time.

In summary, RTR has been on BP for close to a decade now helping investors identify attractive markets across the country and build investment strategies to achieve their goals. We have an exceptional reputation that we have worked very hard to achieve. We know that we have helped more people than those dealing with challenges. No, we are not perfect like any business, and we always welcome feedback as long as it's constructive and professional. This is real estate investing and there are multiple variables that affect the performance and outcome of any investment property over time, both for the positive and negative. Anyone investing in real estate needs to be prepared for that.

It sounds like this investor was able to make significant progress with this tenant to get caught up. We wish him the best success with this property and his future in real estate. Despite this negative post, we are still willing to assist in any way we can, with the understanding that everyone interacts in a professional manner.

Grant McMillan, COO Rent to Retirement

can someone make a marketplace where investors can direct contract with builders and we can bypass these guys for good. it's a sales company that's it.

[email protected]786-494-6766

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2 Reply

Charles Granja

Rental Property Investor · Kansas City/Chicago · Member since 2021 · 126 posts · 113 votes

1y

I'm sorry to hear about your negative experience, and you're not alone. I think one of the reasons BiggerPockets has lost some of its popularity is due to the concerns you've mentioned.

Don't listen to any of the capitalist counter-arguments posed here, you are not wrong in the things you're saying.

2 Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

1y

Quote from @Robert Ellis:

Quote from @Account Closed:

To all reading this thread, I am the COO of RTR and responding on our behalf.
It's important to point out a few key facts in this case since this is not simply a review. Yes, making statements about being a "scam" and using profanity like this is both unprofessional and against BP forum posting rules. It certainly does impact our business for anyone considering using our services and there are many facts that are misrepresented or omitted.

RTR serves as a turnkey and new construction marketplace that researches various investment markets throughout the country and connects investors and sellers. We always encourage investors to conduct full due diligence on any property, team & market they choose to work with. We do our best to help set them up for success with many tools and resources made available to them. We also do our best to help navigate any issues investors may encounter throughout their ownership. After all, this is real estate, and it would be unrealistic to expect that things like tenant issues or other issues do not ever occur, even in TK or new construction investing.

Some notable items to understand:
1) This investor independently chose to move forward with this Akron property on his own. Our team discussed multiple investment options with him, including new construction homes in nice areas that likely attract better quality tenants. He had the opportunity to interview the seller and mngt prior to closing on the home and chose to work with them.
2) As always recommended, this investor conducted full due diligence by having an inspection and appraisal. As he stated, the inspection came back in good condition, and the home appraised at full value without any identifying issues at the time of purchase.
3) RTR was made aware of issues that the investor was experiencing with the tenant. We communicated both with this investor and mngt to help find a solution for a tenant that was struggling to pay rent. Over the past year, RTR has over 50 emails back and forth with this investor and mngt, attempting to sort out solutions. We have had multiple phone calls with all parties, and our owner has taken time to personally speak with him as well. During this time, this investor stated he was very happy for the support. Furthermore, while not obligated, RTR financially contributed to help this investor offset missed rents from the tenant, which it sounds like the investor later recovered from the tenant eventually. We also assisted to have mngt contribute thousands to the investor as well. A resolution agreement was signed and this investor notated that he was very satisfied with this outcome at that time.

In summary, RTR has been on BP for close to a decade now helping investors identify attractive markets across the country and build investment strategies to achieve their goals. We have an exceptional reputation that we have worked very hard to achieve. We know that we have helped more people than those dealing with challenges. No, we are not perfect like any business, and we always welcome feedback as long as it's constructive and professional. This is real estate investing and there are multiple variables that affect the performance and outcome of any investment property over time, both for the positive and negative. Anyone investing in real estate needs to be prepared for that.

It sounds like this investor was able to make significant progress with this tenant to get caught up. We wish him the best success with this property and his future in real estate. Despite this negative post, we are still willing to assist in any way we can, with the understanding that everyone interacts in a professional manner.

Grant McMillan, COO Rent to Retirement

can someone make a marketplace where investors can direct contract with builders and we can bypass these guys for good. it's a sales company that's it.

robert not sure about you but I find it pretty difficult to sell one off new builds without the help of a RE Broker which is what RTR is in those situations.. I dont think anyone is forcing you to use them.. you could just list with your local broker. All the OOS marketing comapnies work for commissions they are not doing this as a charity or non profit.. Its up to you as the builder to negotiate a fee that your happy to pay..

and Frankly market conditions dictate commission in hot markets one might be able to just stick a sign in the yard and do yourself.. still pretty tough or just put them on MLS and negotiate the buyers agents commish like the new rules dictate.. I think what attracts builders to the larger resale companies of which there are at least 10 that do what RTR does is these companies Will focus on their product they wont show your product and then sell something else.. So you get some consistent sales. We all have to remember RE commissions are Negotiable or just like builders paying to buy down interest rates etc. Or the lenders helping with buy downs.

In my OOS sales days selling Portland Oregon investment props to San Francisco based investors. I engaged with a builder that had built 22 duplex's and those were not moving on the local MLS in Vancouver Wa. My Wife and I spent 50k up front doing a very big presentation in San Jose CA and got about 200 investors to come.. It was all risk capital on my part all up front since i would only get paid for success.. these were 200k duplex's at the time and I charged 30k EACH flat fee.. I sold all 22 of them at that one seminar. So risk reward and they all closed in time so the builder did not have his bank foreclosing on them. I did this with about 4 developments in PDX market and that was 2005. Those duplex's my clients bought are now trading high 400s low 5s .

On the flip side my current project in Canby Oregon I am alble to negotiate 1 to 1.2% for the buyers Brokers these are 700 to 1 mil each.. Lennar across town is as 550 ish and they will only pay flat fee of 5k..

Market dictates.. if your product is well received and in demand then you should be able to just build them and list them.. Now if a marketing company is bringing you buyers ( like what happened in FLA) were the buyers are putting up BIG non refundable deposits etc. that is worth a lot to a builder and the marketing company deserves comp for that. OR if the buyer has to get their own construction loan ( which I dont really get since i always get my own construction loan)

Podcast Guest on Show #222

JLH Capital Partners51 Review

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1 Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

1y

Quote from @Charles Granja:

I'm sorry to hear about your negative experience, and you're not alone. I think one of the reasons BiggerPockets has lost some of its popularity is due to the concerns you've mentioned.

Don't listen to any of the capitalist counter-arguments posed here, you are not wrong in the things you're saying.

@James Wise are you a capitalist ?? I know I am LOL..

But I do understand the OP points and I think that folks just really dont understand the work and risk involved in ANY rental property short of NNN leases with super strong companies I personally have one of those returns are 5% COC but all the headaches are gone.. you get what you pay for.. And i think there is an irrational thought process that rental property is easy and there are going to be years of no issues this simply is not the case and especially in lower value markets that are renter dominated this is well documented on BP.. Most investors are greedy they hear they need a 10% return the 1% rule or the 2% rules and thing its a failure you dont achieve that and then they take these risks they are not prepared to handle emotionally. They simply dont understand the culture of the rental class in the mid west the LIfe long renter..

Podcast Guest on Show #222

JLH Capital Partners51 Review

Website View Page

1 Reply

Shaheen AhmedPro Member

Contractor · Los Angeles · Member since 2023 · 80 posts · 55 votes

1y

Quote from @Vivan Bhalla:

Hi all,

So I was reviewing a list of reviews given by people on RTR (Rent to retirement) and was surprised to found not even one negative, which made me think of my experience and I decided to write a review so as to save people from this scam.

I came across RTR in 2022 through a referral, I researched their reviews and decided I will use them for my first real estate investment which is a turnkey property. I saved some money and decided to pull the plug in April 2024. They identified a property for me and sent me a house in Akron, OH. The point of contact for me was Adam. He gave me some pointers on how Akron is an upcoming city and investment here will be very good. They told me about this area Kenmore which is the next area to be transformed by the city and my investment will be very fruitful. I decided to go on with the property in Kenmore and went through the process. The seller was Steve Yoak from Yoak enterprises who bought the house and renovated it. I was told his work is the best and all his houses are top notch quality, I trusted their word thinking that things will come up in appraisal as well as inspection. the inspection was good, nothing negative was on the inspection, the appraisal was also correct. I was very happy but little did I know the worst was yet to come.

Steve Yoak got me in touch with KS Yoak enterprises who he said was his uncle and PM. RTR told me I should take them as they are good. I finalized the property on May 3rd and they told me they already have a tenant ready to move in (they did not take my approval or anything or even informed me their background). I was super happy. I thought this is so smooth. I got my first rent cheque in june for may rent and everything was good. From mid july I started noticing I have not received any deposits and I thought it might be a delay since it is a new property. Late july I tried to check in with KS yoak and they were confused. After 1-2 weeks they told me the tenants stopped paying rent after the first month. For the next 6 months, I had to deal with the incompetent behavior of KS yoak who could not solve my tenant issue and they had no idea what was going on. After I raised this issue with RTR, they knew they fu*ked and they paid me some money as compensation and asked me to stay quiet and not post anything negative (which I am clearly not doing). Till April 2024, I was the one who managed everything with the tenant and got all the rent and made them pay back. KS yoak basically made the situation worse. I cancelled their contract and when I asked them the security deposit be mailed to me in NJ, they sent the security cheque to some address in Philly. Overall, it was the most stressful investment I had.

Coming to 2024, I decided to sell this property as I am done with this headache. I bought it for 135k and the realtor is saying it will go for max 125k. The property has so much issues now, the basement which Steve Yoak worked on has openings and there are rodent issues. the air conditioning does not works, the house is having other issues with fridge as well. It is shocking that this TURNKEY PROPERTY is anyhing but turnkey.

Overall, I would very much avoid anyone who is using them. They are a scam and they make the most money. I know I am at fault here too that I trusted them blindly. I would appreciate people who can help me on what I do with this property.

I had few conversations with them but did like what I was hearing and also they were focused class C or below grade areas.

0 Reply

Bruce Lynn

Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes

1y

Exactly. What I hear from a lot of potential investors is that I just want a property that hits all the numbers I've read about in a book or heard about in a seminar. (and those numbers probably aren't wrong, but don't exist for many or most.) They want a bond. Total hands off, perfect property, with awesome tenants who pay on time or early and never ask for any repair. I just want to sit back and collect cash flow checks. No way am I going to deal with the TTTs....if you can't provide that, I'll just keep looking until I find someone who will tell me they can meet my needs, anywhere in the country. Even NNN is not foolproof anymore. I want easy street.

Well....bless your heart.....I've never found all that and I've been looking for 25 years. Also on the lookout for ideas and materials and homes you can make tenant and idiot proof. I guess that all will keep me busy for another 25 years. Maybe Elon's robot will do free repairs, handle collections, touch up paint scratches, plunge toilets, and all the other headaches we deal with in real estate investing.

2 Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

1y

Quote from @Bruce Lynn:

Exactly. What I hear from a lot of potential investors is that I just want a property that hits all the numbers I've read about in a book or heard about in a seminar. (and those numbers probably aren't wrong, but don't exist for many or most.) They want a bond. Total hands off, perfect property, with awesome tenants who pay on time or early and never ask for any repair. I just want to sit back and collect cash flow checks. No way am I going to deal with the TTTs....if you can't provide that, I'll just keep looking until I find someone who will tell me they can meet my needs, anywhere in the country. Even NNN is not foolproof anymore. I want easy street.

Well....bless your heart.....I've never found all that and I've been looking for 25 years. Also on the lookout for ideas and materials and homes you can make tenant and idiot proof. I guess that all will keep me busy for another 25 years. Maybe Elon's robot will do free repairs, handle collections, touch up paint scratches, plunge toilets, and all the other headaches we deal with in real estate investing.

Bruce closet I saw that came to idiot proof rentals was a group of homes in Hattisburg MS. Bank owned landlord built them specific for tenant rentals. Block construction cement floors with the floors sloping to a central drain. concrete counter tops stainless kitchen cabinets boob lights and minimum windows by code . Tenant brought throw rugs . so at turn over it was just take a fire hose to the interior for the turn. :)

Podcast Guest on Show #222

JLH Capital Partners51 Review

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1 Reply

James Wise

Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes

1y

Quote from @Jay Hinrichs:

Quote from @Charles Granja:

I'm sorry to hear about your negative experience, and you're not alone. I think one of the reasons BiggerPockets has lost some of its popularity is due to the concerns you've mentioned.

Don't listen to any of the capitalist counter-arguments posed here, you are not wrong in the things you're saying.

@James Wise are you a capitalist ?? I know I am LOL..

But I do understand the OP points and I think that folks just really dont understand the work and risk involved in ANY rental property short of NNN leases with super strong companies I personally have one of those returns are 5% COC but all the headaches are gone.. you get what you pay for.. And i think there is an irrational thought process that rental property is easy and there are going to be years of no issues this simply is not the case and especially in lower value markets that are renter dominated this is well documented on BP.. Most investors are greedy they hear they need a 10% return the 1% rule or the 2% rules and thing its a failure you dont achieve that and then they take these risks they are not prepared to handle emotionally. They simply dont understand the culture of the rental class in the mid west the LIfe long renter..

I mean let's be real, about 80% of the complaints investors on BP have about their property manager, contractor, turnkey co, Realtor etc.... are just nonsense. My PM did this, cry cry cry... My contractor is a skilled tradesman who won't beg me for work or give me discounts even though I told him I am an investor cry cry cry... It's laughable after awhile.

2 Reply

Bruce Lynn

Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes

1y

Quote from @Jay Hinrichs:

Quote from @Bruce Lynn:

Exactly. What I hear from a lot of potential investors is that I just want a property that hits all the numbers I've read about in a book or heard about in a seminar. (and those numbers probably aren't wrong, but don't exist for many or most.) They want a bond. Total hands off, perfect property, with awesome tenants who pay on time or early and never ask for any repair. I just want to sit back and collect cash flow checks. No way am I going to deal with the TTTs....if you can't provide that, I'll just keep looking until I find someone who will tell me they can meet my needs, anywhere in the country. Even NNN is not foolproof anymore. I want easy street.

Well....bless your heart.....I've never found all that and I've been looking for 25 years. Also on the lookout for ideas and materials and homes you can make tenant and idiot proof. I guess that all will keep me busy for another 25 years. Maybe Elon's robot will do free repairs, handle collections, touch up paint scratches, plunge toilets, and all the other headaches we deal with in real estate investing.

Bruce closet I saw that came to idiot proof rentals was a group of homes in Hattisburg MS. Bank owned landlord built them specific for tenant rentals. Block construction cement floors with the floors sloping to a central drain. concrete counter tops stainless kitchen cabinets boob lights and minimum windows by code . Tenant brought throw rugs . so at turn over it was just take a fire hose to the interior for the turn. :)

LOVE IT. I've thought about stuff like that. If all else fails, but bars on the windows and turn them into prison cells.

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

1y

Quote from @Bruce Lynn:

Quote from @Jay Hinrichs:

Quote from @Bruce Lynn:

Exactly. What I hear from a lot of potential investors is that I just want a property that hits all the numbers I've read about in a book or heard about in a seminar. (and those numbers probably aren't wrong, but don't exist for many or most.) They want a bond. Total hands off, perfect property, with awesome tenants who pay on time or early and never ask for any repair. I just want to sit back and collect cash flow checks. No way am I going to deal with the TTTs....if you can't provide that, I'll just keep looking until I find someone who will tell me they can meet my needs, anywhere in the country. Even NNN is not foolproof anymore. I want easy street.

Well....bless your heart.....I've never found all that and I've been looking for 25 years. Also on the lookout for ideas and materials and homes you can make tenant and idiot proof. I guess that all will keep me busy for another 25 years. Maybe Elon's robot will do free repairs, handle collections, touch up paint scratches, plunge toilets, and all the other headaches we deal with in real estate investing.

Bruce closet I saw that came to idiot proof rentals was a group of homes in Hattisburg MS. Bank owned landlord built them specific for tenant rentals. Block construction cement floors with the floors sloping to a central drain. concrete counter tops stainless kitchen cabinets boob lights and minimum windows by code . Tenant brought throw rugs . so at turn over it was just take a fire hose to the interior for the turn. :)

LOVE IT. I've thought about stuff like that. If all else fails, but bars on the windows and turn them into prison cells.

keep in mind though the floors with drains I have seen those in bathrooms of 10 million dollar homes I have been in personally in Singapore its pretty standard in some areas does not necessarily mean ghetto. But those units were all deep south section 8.

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