Turnkey Companies
Los Angeles, CA · Member since 2014 · 18 posts · 7 votes
Turnkey Companies
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Rental Property Investor · Manteno, IL · Member since 2009 · 2k+ posts · 2k+ votes
12yBased on the ones that I've looked into in the past, you're going to essentially be paying retail for properties which limits your upside and actually creates some risk should you want to sell them since - with all the fees/closing costs - you'll have to come out of pocket to sell.
But the key is in their property management service. Thats what would really determine whether they're a good deal or not. And thats probably the toughest part of out of state investing in my eyes - finding good property management.
If it were me, I think I'd skip the turnkey places and find another investor or possibly a realtor and tell them what you're looking for. Maybe even a wholesaler. Buy the house from them as they know they typically need to sell a house to an investor at around 70 to 75% of the ARV.
So if the house is worth 160k, you should be able to get it for an all in price (i.e. purchase plus rehab costs) of about 120k. Thats much better than the 160k you're going to pay to one of these turnkey companies.
Then get your PM to lease it up and manage it. Its a lot easier to make money on houses that you're all in at 75% or even 80% than the ones you're all in at 100%.
Not to mention the fact that many of them tend to over estimate the actual rental amounts too.
58 Replies
- Los Angeles, CA · Member since 2014 · 18 posts · 7 votes12y
Wow, thanks guys for the wealth of information. I will take your advice and not rush into anything. It's good to learn more about the TK business model. It gives me an idea of what to expect from that asset. Also, I agree with @Jay Hinrichs that I do not want to be regretting my asset. I'd rather buy a quality asset and expect a lower return than be sold on great cash flow numbers.
I'll be doing more research, but thank you all for the help.
Ravi
- Memphis, TN · Member since 2013 · 969 posts · 524 votes12y
Make sure you do your due diligence things are not always what they seem to be on the higher end nor lower end assets or the company that is selling them.
- Hallandale Beach, FL · Member since 2014 · 82 posts · 12 votes12y
In your post you mentioned to pick an area and reach out to some BP investors to see if they want to "do the deals for you" for 10% comm. Can you please explain how this would work?
Thanks in advance!
- 12yDawn AnastasiPro MemberRental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
Originally posted by @Lisa Mauritis:
In your post you mentioned to pick an area and reach out to some BP investors to see if they want to "do the deals for you" for 10% comm. Can you please explain how this would work?
Thanks in advance!
What you could do is reach out to someone in a market you want to invest in, who has been investing for quite a while and has had good success, and have them find you a property, manage the rehab, and either get a PM or PM themselves. You'd just pay them for each of the components, then you'd have a performing rental. (It's easier said than done however.)
- NY · Member since 2015 · 101 posts · 43 votes11y
Originally posted by @Mike H.:
One thing I would add is that I agree with your comment that your returns are probably still going to be better using a turnkey company than certain areas in the country (likely california) based on some of the numbers I've heard people mention before.
The one thing I truly believe is that there is absolutely no better investment than real estate. You get more than just cash on cash return from rent. There's principal paydown, appreciation, and tax benefits (i.e. most if not all your profits tend to be tax free).
Here's an example of one that I just looked at with one of the turnkey companies in dallas.
Purchase 115k. Rent 1100, Taxes, insurance and Property management fee - $370/mo.
If you put down 30%, that would be about 35k. Your mortgage on 80k would likely be about 450 a month or so. Thats 820 a month. You'd make $300 a month gross profit. $200 a month net profit or 2,400 a year. Add in principal paydown of another 100 a month or so (1,200 a year). And 2% appreciation (2,200/yr). Thats roughly 5,800 a year in return - most if not all should be tax free. So what is that really worth? 7k a year? Thats a 20% return.
And thats just from day 1. Where really estate really starts to show its value is over time.
In 5 years, your payments are going to be the same. But your rent is likely to be $50 to 100 a month more. Your principal paydown will also increase some as well. So your returns on that same 35k investment will continue to get larger.
And at some point in a 20 or 30 yr timeframe, that house gets paid off - and then whats your cash flow? Granted, you lose your tax benefits by then as well (no mortg interest deduction and depreciation is gone at yr 27 or sooner if you accelerated dep).
So in 25 years, lets say, that 35k is going to become a 220k house that is owned free and clear and will be making about 1,400 to 1,500 a month in income (assuming houses double every 20 to 25 years and rents double about every 30).
And thats if you pay retail and finance with the standard 30% down. Just think what it would look like if you're getting the houses at 75% or 80% of the ARV. :-)
But still consider coming up with your own turnkey deals. Pick an area like that you want to invest in and reach out to some BP investors and see if they want to do the deals for you and add a 10% fee for themselves. I bet they could get you into deals a lot cheaper that way.
- 11yCurt DavisBusiness MemberFlipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
Originally posted by @Darrin Carey:
@Ravi Chaudhari 20% is a great target. I hit the pavement hard, and I find 20% or more sometimes. However, when I find it, I'm either keeping it, or marking it up to a 15% ROI to another investor. I'm yet to see a turnkey company offering a TRUE 20% ROI over several years.
You really need to consider the time available to you personally. If you have very little time, a reputable turn-key company may be the right answer for you. If you have more time, making good contacts and putting together a better deal may be your best option. The worst option is to do nothing.
Darrin, ill most likely never see true returns like this simply for one it is very difficult to even hit those figures with gross figures. And then when investors start to factor in vacancy and maintenance then it surely wont happen. The only homes that would ever come close to those figures are lower end deals and on paper it will look good but it will never perform like the on paper figures show. 20% ROI is almost unlikely from a TK provider.
Curt Davis - KAIZEN Realty538 Reviews - Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes11y
Hey Ravi! I've always bought turnkeys for myself and they are all I care to buy (call me lazy). I've had both good and bad experiences. They good ones really come down to just having properties that perform steadily, which is primarily based on a) location and b) property management. The bad experiences I've had were all based on property management issues. The PM side is technically just rental property related and not specific to turnkeys, but the PMs came with the turnkeys so it's worth mentioning.
The other factor that, in my opinion, makes a turnkey company good or not other than providing properties that live up to what is advertised is ease of working with them. I know a lot that are exxxtremely difficult to work with....both in general customer service and performance. For example big delays in construction is a big one.
My disclosure isn't technically related to my answer to your question, because I'm answering solely based off the turnkeys I have bought for myself, but my company refers for turnkeys and I can make commissions if I refer to you sellers, so wanted to put that on there!
- Woodbridge, NJ · Member since 2015 · 6 posts · 1 vote11y
The thing you all don't point out is the fact that after 20 years; that house is going to need a complete rehab costing $75k; or you will be paying for this during your 20 years of 'principal paydown.' Once that factors in, turnkey might not look so great down the line.
- Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes11yRavi Chaudhari You are getting the best advice from all the pros on here. You basically need to find a strategy that works best for you. I am a beginner investor so I find turnkey companies the best option for me. I understand I may pay a little more at times but for me it's worth it. I'm out of state and have a full time career to focus on. I let them do the work for me. All that said it's important to find the right companies to work with. I've had both bad and good experiences. Moving forward I found some great people to work and I continue to build that trusting relationship deal after deal.
- 11yJames B.Pro MemberInvestor · Monterey Area, CA · Member since 2011 · 150 posts · 81 votes
Starting here at BP is a great step!
Even though properties are marked as "Turnkey", PLEASE do your due diligence.
If you find a property, you MUST get an inspection! - NY · Member since 2015 · 101 posts · 43 votes10y
Don't know how I did the "Originally posted by" but that was an error on my post in this string. I'mean still learning this BP thing. Lol
- Leander, TX · Member since 2014 · 6 posts · 2 votes10y
Wow as an apprentice here in Bigger Pockets I'm so honored to have access to such a great information with a group of people that posses vast knowledge on many subjects related to RS and are willing to share it , so for that a BIG THANKS to you all as a newbie to RS this site is the greatest thing I could come around.
As for this tread I was looking for information specific to Turnkey since we had been looking for invest in RS in our area (Texas, Austin, Cedar Park, Leander) and its had been so disappointed since we started 2 years ago the last year being the worst we either get out bid from outside of state buyers wit tons of cash or get caught in a biding war so we have to quick looking and we felt like we were no able to achieve our goals in this type of market so we star looking in other direction we said to ourselves it has to be another way that we can conquer this quest to RS and that is when I found out about the term Turnkey properties and a window of new possibilities star to open for us we want it someone to provide a service where we only have to invest the money and they will do the leg work for us mi husband is a Teacher and I a home stay mom we don't have the time or expertise or big resources to do what it takes to find a house for flip or hold and reselling or rent out and manage ourselves we just don't have the time or the willingness we don't want the stress that will carrie so for us make sense to work with a Turnkey Company we are looking for the best one that will work for us and hopefully with all the information we are collecting trough Bigger Pockets we can find our match.
Again thanks to all .
Gioconda Sanders
- Investor · Miami, FL · Member since 2015 · 1k+ posts · 390 votes10y
Originally posted by @Gioconda Sanders:
Wow as an apprentice here in Bigger Pockets I'm so honored to have access to such a great information with a group of people that posses vast knowledge on many subjects related to RS and are willing to share it , so for that a BIG THANKS to you all as a newbie to RS this site is the greatest thing I could come around.
As for this tread I was looking for information specific to Turnkey since we had been looking for invest in RS in our area (Texas, Austin, Cedar Park, Leander) and its had been so disappointed since we started 2 years ago the last year being the worst we either get out bid from outside of state buyers wit tons of cash or get caught in a biding war so we have to quick looking and we felt like we were no able to achieve our goals in this type of market so we star looking in other direction we said to ourselves it has to be another way that we can conquer this quest to RS and that is when I found out about the term Turnkey properties and a window of new possibilities star to open for us we want it someone to provide a service where we only have to invest the money and they will do the leg work for us mi husband is a Teacher and I a home stay mom we don't have the time or expertise or big resources to do what it takes to find a house for flip or hold and reselling or rent out and manage ourselves we just don't have the time or the willingness we don't want the stress that will carrie so for us make sense to work with a Turnkey Company we are looking for the best one that will work for us and hopefully with all the information we are collecting trough Bigger Pockets we can find our match.
Again thanks to all .
Gioconda Sanders
Gioconda, you are definitely in the right space for information, does not matter turnkey or REI in general, BP offers an immense amount of information, easy to find what you are seeking. In regards to your recent ventures, the challenges incurred in your current market place, have now provided you with an opportunity to go outside of your area. A you venture into various spaces, I always encourage lots due diligence, you want to place as many control and risk mitigation pieces in advance on your purchase, to increase the value of your Turnkey experience. Some critical areas of attention I always consider as important:
- Communication and transparency
- track record and experience
- condition and area
- ARV and cash flow
As always just as with anything else do your due diligence, congrats on your new ventures, may they be prosperous and joyful.
- Investor · Dallas, TX · Member since 2016 · 60 posts · 65 votes10y
Ravi,
There are more experts on this site that can provide more information than you can handle. I recommend to keep things simple, find a turnkey provider in an area that fits the investment plan you are trying to accomplish. This way you don't have to make contact and try and vet a realtor, a property manager, a rehabber, plus all the other contacts you are going to need out of state. It's just too many variables and if you get one wrong its going to be an expensive lesson. You just want to get on base with a base hit to get your feet wet. The home runs will come later with more experience. You could do it without a TK provider but why go through all the time its going to take. Of course you could make more money if you do things yourself but the money will come pouring in after a few deals. Just due your due diligence on TK providers that way you only have to worry about one person and not the whole team right off the bat.. As you grow then you can do more on your own. I'm a small fry here on this site and I'm getting to know who the real players are and they are on this thread but as a newbee its hard to know who to trust.
- Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes10y
Originally posted by @Gioconda Sanders:
Wow as an apprentice here in Bigger Pockets I'm so honored to have access to such a great information with a group of people that posses vast knowledge on many subjects related to RS and are willing to share it , so for that a BIG THANKS to you all as a newbie to RS this site is the greatest thing I could come around.
As for this tread I was looking for information specific to Turnkey since we had been looking for invest in RS in our area (Texas, Austin, Cedar Park, Leander) and its had been so disappointed since we started 2 years ago the last year being the worst we either get out bid from outside of state buyers wit tons of cash or get caught in a biding war so we have to quick looking and we felt like we were no able to achieve our goals in this type of market so we star looking in other direction we said to ourselves it has to be another way that we can conquer this quest to RS and that is when I found out about the term Turnkey properties and a window of new possibilities star to open for us we want it someone to provide a service where we only have to invest the money and they will do the leg work for us mi husband is a Teacher and I a home stay mom we don't have the time or expertise or big resources to do what it takes to find a house for flip or hold and reselling or rent out and manage ourselves we just don't have the time or the willingness we don't want the stress that will carrie so for us make sense to work with a Turnkey Company we are looking for the best one that will work for us and hopefully with all the information we are collecting trough Bigger Pockets we can find our match.
Again thanks to all .
Gioconda Sanders
Gioconda, have you started focusing in on any particular markets as of yet? I started my REI in a similar way as you, got frustrated locally, and so went turnkey out of state - starting in Jacksonville, Fl.
- Real Estate Agent · Austin, TX · Member since 2015 · 25 posts · 4 votes10y
@Gioconda Sanders BP is a great place to learn more about REI and various methods. I would love to connect. I'm in the local area and can help you find properties that might fit your search criteria. Feel free to reach out to me any time!
Good luck on your search & best wishes!
- Investor · Miami, FL · Member since 2015 · 1k+ posts · 390 votes10y
Originally posted by @Edwin Williams:
Ravi,
There are more experts on this site that can provide more information than you can handle. I recommend to keep things simple, find a turnkey provider in an area that fits the investment plan you are trying to accomplish. This way you don't have to make contact and try and vet a realtor, a property manager, a rehabber, plus all the other contacts you are going to need out of state. It's just too many variables and if you get one wrong its going to be an expensive lesson. You just want to get on base with a base hit to get your feet wet. The home runs will come later with more experience. You could do it without a TK provider but why go through all the time its going to take. Of course you could make more money if you do things yourself but the money will come pouring in after a few deals. Just due your due diligence on TK providers that way you only have to worry about one person and not the whole team right off the bat.. As you grow then you can do more on your own. I'm a small fry here on this site and I'm getting to know who the real players are and they are on this thread but as a newbee its hard to know who to trust.
Edwin, fantastic advice, very well put, allow expertise to guide through the initial headwinds and learn quickly through a simple entry into the marketplace, develop and then aim high for home runs. REI can be simple, its important to really take the time and learn, process, think and finally cultivate long standing relationships. You said it perfectly: "This way you don't have to make contact and try and vet a realtor, a property manager, a rehabber, plus all the other contacts you are going to need out of state. It's just too many variables and if you get one wrong its going to be an expensive lesson." - could not have put any simpler :)
You can keep it simple and maximize your time, the space that laws you to entertain your habits such as REI and allow others with established systems help you/assist you achieve your wealth building goals.
- Leander, TX · Member since 2014 · 6 posts · 2 votes10y
Hi everyone I much appreciated all the advice I'm getting Thanks
Steve Gesis Yes I've been looking for and sorting out TK providers we have make contact so far with two of them one is very well known here in BP and so far we like it best and feel comfortable with the one that seems to have a lot of success in their own market and markets as Texas Cities like Dallas and Houston but again properties taxes are so high that we can afford those either, they do recommended Memphis since their headquarters its there but we have a family member that have been a RSI for more than 30 years and he advice us against going out of states and buy a property without seeing first and no matter how much we explain to him how this works he just said is a no no for him put it in his own words (These guys with these companies selling houses to investors-----you need to understand---they don’t give a sxxx about you
They are trying to move as many houses as they can, any way they can, to make as much money as they can
Just like a car dealership
And, like I said, along with seeing the actual property I want to drive the hood and see what’s going on)
We are torn out about this and kind of hesitate to move forward but we are more than convince that this is the path for us to REI at this time. We do understand what he is coming from he is old school, he is one of those that used to go to the court house and bid on houses and get them and he will go out to find houses in distress and abandon buy them and flip them and make tons of money but he does has a crew now he has a partner and his partner is his property manager he has the resources we don't , he has no kids we do. So circumstances are totally different and times are totally different now the Texas market is ones of the hottest in the nation and about to hit all time high for Housing prices so that will leave us out of the picture as firs time investor.
It since that we either have to wait to the house market and growth job to slow down or get out of the comfort zone and go out of state.
So we will do some more research learn about different markets and see which will make more sense for us to pull the trigger.
- Leander, TX · Member since 2014 · 6 posts · 2 votes10y
Hi, Edwin Williams Thanks for you input and Yes that much of information in any topic can be overwhelming that's what I think its important to focus in what do you want to accomplish and set your goals accordantly.
I agreed with you and to keep things simple believe me I'be been there were I had to vetting on contractors, roofers, home inspectors just to name a few and it is not an easy task when you have a kid around and you have to take them along with you to meet and do all this diligences and neither my husband could take the responsibility since he has a full time job so tI can even phantom the possibility to do this out of state all by ourselves I know its possible and more profitable but no the right fit for us and that's how we come to the conclusion that a TK provider might be the answer to our quest to REI and yes maybe in a future with more experience and more Knowledge we can run thins ourselves why not.
Thanks again.
- Leander, TX · Member since 2014 · 6 posts · 2 votes10y
Larry Fried, No we have no started to study any other market yet , we were so focus in our state and niche that we knew well the statistics in the particular areas we were interested in we were in our comfort zone and did not think of going out of state till now. Like I said before we are new to TK so have some homework to do.
I have heard that Jacksonville Fl, Memphis Tn are good markets to star with but I don't know anything about the statistics there but I guess is nothing that cannot be found online.
Thanks
- Investor · Miami, FL · Member since 2015 · 1k+ posts · 390 votes10y
Originally posted by @Gioconda Sanders:
Hi everyone I much appreciated all the advice I'm getting Thanks
Steve Gesis Yes I've been looking for and sorting out TK providers we have make contact so far with two of them one is very well known here in BP and so far we like it best and feel comfortable with the one that seems to have a lot of success in their own market and markets as Texas Cities like Dallas and Houston but again properties taxes are so high that we can afford those either, they do recommended Memphis since their headquarters its there but we have a family member that have been a RSI for more than 30 years and he advice us against going out of states and buy a property without seeing first and no matter how much we explain to him how this works he just said is a no no for him put it in his own words (These guys with these companies selling houses to investors-----you need to understand---they don’t give a sxxx about you
They are trying to move as many houses as they can, any way they can, to make as much money as they can
Just like a car dealership
And, like I said, along with seeing the actual property I want to drive the hood and see what’s going on)
We are torn out about this and kind of hesitate to move forward but we are more than convince that this is the path for us to REI at this time. We do understand what he is coming from he is old school, he is one of those that used to go to the court house and bid on houses and get them and he will go out to find houses in distress and abandon buy them and flip them and make tons of money but he does has a crew now he has a partner and his partner is his property manager he has the resources we don't , he has no kids we do. So circumstances are totally different and times are totally different now the Texas market is ones of the hottest in the nation and about to hit all time high for Housing prices so that will leave us out of the picture as firs time investor.
It since that we either have to wait to the house market and growth job to slow down or get out of the comfort zone and go out of state.
So we will do some more research learn about different markets and see which will make more sense for us to pull the trigger.
Gioconda, complex scenario! But this is what BP is all about!
First of all totally agree with you about working with individuals and TK providers that are more boutique like and have a strong hyper local market place presence, awareness along with an established business, I think we need to dive deeper into your perfect understanding of a real TK provider versus others that are simply FAUX TK providers.
True TK provider: Completes acquisition, construction completed to a standard quality and caliber, provides in house continued management. A true TK provider is not really in the management business,they are in the investor ROI management business, these is a different caliber and institution of property management one that is conscious about investor returns not their fees. Just think about it......oh yea, did I mention they normally offer immediate cash flow and did all the tough work with their money ahead other client commitment . Once you define a true TK provider with the proper sophisticated and comprehensive passive solution your expectations should be high and the value proposition must be there, you should be able to get a qualified ARV or less simply from their economies of scale, yes, this means premium free turnkey.
Faux TK provider: Helps you buy, helps you renovate maybe in many cases they do not help you renovate they help you apply "lipstick to a pig", passes you off to someone else for management. Did I mention does not do any of the aforementioned items for you, so the value cannot be there and you are right they are just realtors who really typically do not really cares they are in the marketplace to grab "fast money." Your right many times, this is the only goal volume and it does not matter what that volume looks like and what the results or real outcome is of the volume.
True TK normally the entity seeks to establish a long standing relationship and they value business. This is a a shout out to all the good guys out there, doing the right thing and being great operators. Real TK unite!
You must weigh your options, there is nothing wrong with old school, the question is are you prepared to place the time and effort necessary, You have to determine when working with TK what value do you gain. Everyone has different strategies and different resources they can or cannot commit, it maybe time, it may be money. One thing thats for sure is that economies of scale you can tap into with a real TK provider is reason enough to at least consider and weight the option.
Anyhow much to consider, much to research many great markets out there, do your homework, place lots of value on management (this can make or break you, there are different type of management business out there remember this), communication, talent, track record and actual services you are going to gain the most efficiency with.
Much luck #TeamTurnkey#TurnkeyLifeStyle
- 10yAlex CraigBusiness MemberReal Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
@Steven Gesis Man you nailed it. I have always said that a Turnkey Property Manager is much different then a property manager who has grown his business outside of property sales. This statement by you sums it up, "A true TK provider is not really in the management business,they are in the investor ROI management business, these is a different caliber and institution of property management one that is conscious about investor returns not their fees"
I can't tell you how many times I have cut fees in the name of increased returns of our investors. A normal PM could certainly take the approach of "Looks, I am your manager and you hired me to do a job and my fees are straight forward." Where as TK PM takes the approach, "I hate that your vacancy was longer then expected and during that time a tree branch crushed your fence, let me help you with that lease up fee."
- Investor · Miami, FL · Member since 2015 · 1k+ posts · 390 votes10y
Originally posted by @Alex Craig:
@Steven Gesis Man you nailed it. I have always said that a Turnkey Property Manager is much different then a property manager who has grown his business outside of property sales. This statement by you sums it up, "A true TK provider is not really in the management business,they are in the investor ROI management business, these is a different caliber and institution of property management one that is conscious about investor returns not their fees"
I can't tell you how many times I have cut fees in the name of increased returns of our investors. A normal PM could certainly take the approach of "Looks, I am your manager and you hired me to do a job and my fees are straight forward." Where as TK PM takes the approach, "I hate that your vacancy was longer then expected and during that time a tree branch crushed your fence, let me help you with that lease up fee."
Alex, thanks for the kudos and support. This is a matter of fact when dealing with real TK providers, I am well aware of what ot means to make concessions to insure client receives the expected outcome. Of-course the goal is to not have to make concessions as a dedicate manager, but rather just get it right, but the small times that this does occur you need to be able to view and address it in a manner that os advantageous to the investor, as your fiduciary duty is the success of there investment, of this means conceding on something then thats what it takes, if it means going above and beyond time and time again, then thats what it takes. Appreciate the compliments, this is so very true and very real. Your scenarios are completely with merit!
- 10yAlex CraigBusiness MemberReal Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
@Steven Gesis I tell my staff all the time, the Property Mgmt company will be more profitable when discounting and waiving fees.
- Leander, TX · Member since 2014 · 6 posts · 2 votes10y
Steven Gesis, I did went and check out one of this True Turnkey provider and wow we don't stand a chance I will rather purchase a property trought the MLS with those prices. they want us to put between 35% and 40 % or 50% down if we used and IRA for a property that is $121,900 where the value of houses around the neigborwood are between $80,000 and $87,000 and a 10% for managing the property . I understand that they must have done quite a renovation if they bought the property for $69,000 and are selling for $121,900 and I know they are doing the hard work but they are not offering immediate cash flow and the cash flow for this deal will be $383 going with a only 5% in vacancy and 5%maintenance an a estimated rent of $1025-1125 .
I just don't see this feasible for us we do have $35,000 for invest in a property we do have more but we want to have some left to cover unexpected situation for example vacancy and many other factors to consider.
I can give the whole property analysis if needed to , and plus when talking to them on the phone the first thing they asked was if we were paying cash and we give them our financial situation and how much we will be able to afford and feel comfortable with and they sent us 3 houses and boy we taught we were screw it is no way we can afford any of them plus they did have not responded to our concerns about the crime rate in Memphis and the the bad School rating in this neighborhood how do they take in considerations this factors, they might had get the pig clean and put lipstick on but the pig still a pig and if he sees mud around how do you thing the pig will perform. we write to them Wednesday and we have not hear from them yet , not much there either in costumer service .
Our feelings about this company are they don't want to be bother with little men like us they want the big fish with tons or money in their pockets, if we were that kind of investor we will be buying in our back yard right at home, I don't feel like they even care about ROI at all not much of what you said " A true TK provider is not really in the management business,they are in the investor ROI management business, these is a different caliber and institution of property management one that is conscious about investor returns not their fees." I wish I have feel like this about them but I guess we will keep looking maybe you will be our next contender.
Thanks again for your insight.
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