Does anyone have any experience investing with a full service investment company such as HomeUnion? They seem to have a streamlined process for investors to purchase property in a variety of markets with a soup-to-nuts service platform. Curious if anyone out there has looked into a service like this.
HomeUnion and similar firms are often called "turnkey" companies on the forums here. I don't have direct experience with any of them, but I learned a lot by searching that term here on Bigger Pockets when researching HomeUnion.
Thanks for the heads up Keith. I'll check it out.
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@Roig V. I have not invested with HomeUnion, but did review the company in my own search for turnkey investments. I did not find it the best option for my investment criteria.
Disclosure: I work at HomeUnion
There are a few other discussions on Bigger Pockets where one of our investors have posted (Here's one of the posts http://www.biggerpockets.com/forums/92/topics/1415...
To correct Keith, HomeUnion is not a turnkey provider. We never take ownership of any of the properties, we don't rehab them, etc. In other words, we don't buy low and sell high. We are a real estate investment management firm. Think of us as the Charles Schwab or Merrill Lynch of real estate. As those companies made it easy for individual investors to own stock in company, we're making it easy for investors to invest in Single Family Rentals. We assist our investors from asset identification through disposition and every step in between.
If you'd like to hear from more of our clients, we can easily find one that would talk to you about their experience with us.
Feel free to reach out to me directly if you have any questions at all.
Didn't mean to misrepresent your services, was just borrowing from a previous post of yours that stated "turnkey operators" are one of your sources of property:
And then this article that describes HomeUnion as "turnkey":
There is also this HomeUnion press release that describes HomeUnion's services as "turnkey":
I guess maybe you're using the term in a different sense, but given the threads I have discovered here I am probably not the only one that could use more clarity if I'm not supposed to associate HomeUnion with "turnkey operators."
Disclosure: I work at HomeUnion.
Thanks for the response. I definitely need to tighten up our messaging a bit. In one sense we do provide a turnkey service...but there are very specific types of companies that are called turnkey and we are not them, although we do work with a few here and there. Those companies in general purchase homes, rehab them, get a renter in place and then sell the property while maintaining the property management of the property. For some investors, they are a great fit and some are extremely reputable, which is why we work with them. So, while we do a provide a turnkey, or end to end solution, we don't fit that type of mold of a turnkey provider. Hope that clarifies what I mean.
Thank you for explaining the confusion. We're tightening up our messaging to avoid that in the future.
Sorry for the slow reply! I took some downtime for the holidays!
I probably helped build the image of HU as a turnkey provider, but maybe my experience can help clarify.
HomeUnion is and always has been a market place where investors can find potential properties in invest in. They used to focus on mostly turnkey properties where HU was basically a middle man. They would connect the investor to a local turnkey provider and the investor would then buy the property and HU received a fee of some sort from the turnkey provider.
Now HU has transitioned and is working on using analytics to identify potential investment properties either from turnkey providers or the MLS. Investors can use their website to identify potential properties, or work with a HomeUnion agent that lives in and knows the market the investor is interested in. That agent will then walk through the property you're interested in and give recommendations based on whether or not that property fits what you're looking for. This is how I found the most recent duplex I'm buying. It worked well but definitely took more effort on the part of the investor.
So in my opinion, if you're an investor that wants to invest out of state in a market that HU operates in, HU may be a good option for you. They have vetted property managers in place and agents to help you invest in a market where you may not have any contacts.
I'll also be honest that I've opened up my personal searches to look at non-homeunion properties because I'm now more comfortable with some markets and don't mind putting in the work myself on both the front end identifying properties, and the back end working with the property manager directly.
I hope that helps! Feel free to message me with any questions!
Disclosure: I work at HomeUnion.
Thanks so much for describing your experience and how we've assisted you in purchasing your investment properties.
Ok , who here has not worked for homeunion and has been a customer for at least a year. If you qualify, please tell us your experience.
I looked into HU, talked with a representative over the phone and finally reviewed the contract. After reviewing all of the details I opted not to invest under the terms and conditions along with the fee structure. I couldn't make the numbers work to my satisfaction and simply felt, as the property owner, had little input or control over costs. They make everything very easy. To the point that all you do is supply the funds to get things started then sit back. As with everything, more effort yields higher income. It's really a personal choice.
I came to the same conclusion and they also couldn't find my properties that really made sense under my standards. Its really MLS inventory sold by brokers was my take on it.
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