Looking into turnkey companies in Chicago and trying to do my due diligence. I spoke with the boss over the phone, and the gentleman seemed like a good guy. I was wondering if anybody out there have invested with them and how was their experience.
Thanks in advance,
@Leo Qu Yes, I have experience working with them and own a few properties. Although my primary focus is to stay local and invest in the Bay Area.
Since you are located in Cupertino, perhaps you would be interested in chatting more over lunch sometime. Some REI folks and I meet regularly in Cupertino for lunch. Or even better, come out to the monthly meet ups hosted by @Johnson H. in SJ. Interestingly enough, I met @Dooreuhn Cee at the last meet up and he also invests in Chicago... Give him a shout.
@Jay Y. Thanks for the pointers! Sent you a PM : )
@Leo Qu I haven't invested with them but I have interviewed one of the owners. I think he lives in the bay area and answered a lot of my questions. I had a good feeling after the meeting but ultimately I didn't think the time was right for me to invest out of state.
There is an extensive discussion about the company in this tread.
I have never invested with them but know the owner on a personal level and he is a good person.
With turnkey it's a tradeoff between time and money. You can pay a premium (sometimes significant) for less work or you can get a better return by putting in more work yourself. I've done both, each has it's pros and cons.
Neil, which owner do you know, Alex or Justin?
I am an investor from Denver and have worked with a few turnkey providers and after some terrible experiences, I was very leary to trust again. I spoke to the Owner of ProfitFromRentals.com, Justin Ericsson, who patiently listened to my experiences and worked with me to ensure all my needs were met. After many discussions, and flying out to Chicago where Mr. Ericsson took several hours to show me the properties and then take me to another property to show me how he selects properties, I was very impressed and never did I feel pressured.
I elected to purchase two properties from ProfitFromRentals.com, a 2 Flat and Single Family. During the purchase transaction phase, Justin went above and beyond doing extra renovations, and encouraged me to do a third party inspection. He is taking care of the inspection items and even though we have to wait until the tenant moves out, I have the upmost confidence, Justin will finish the repairs. Justin has kept me briefed and responded quicky, always.
The 2 Flat and house I purchased are beautiful and it is patently clear Justin and PFR is passionate about the houses and also taking care of tenants. He had a great relationship with all of his tenants.
I am very pleased with my decision to go with ProfitFromRentals.com! Thank you Justin!
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