Cashflow Savvy / Epic Real Estate
Hello, I have been researching turnkey providers and came across the Epic real estate investing and Turnkey real estate investing that Matt Theriault does. Has anyone on BP purchased a home through their turn key service. I have communicated a lot with them via email over the past week and they do an excellent sales job but I am trying to do further research on them as a company.
Thank you for any feedback!
Allison
@Allison Karrels I am a TK provider and have researched many providers around the country, but I had never previously heard of this company. Where are they located? What market(s) do they offer properties?
They are based out of CA, but they have turn key markets in : Birmingham AL, Atlanta GA, Indianapolis IN, Kansas City MO, St. Louis MO, Memphis TN, Cincinnati, Cleveland & Columbus OH.
Epic real estate investing and Turnkey real estate investing are the names of their podcast which is why I started to research them.
I am early on in my research process for turn key companies. Thanks for any feedback.
They are a reputable marketing/sales company. I have worked with them.
First of all welcome to the site I am glad you are on the site.
As far as turnkey info, I would for the most part ignore the sales/marketing company in a way. Meaning, I think one of the biggest things to consider is really Customer Service.
I think a great place to start your research is with @Brie Schmidt and @Jay Hinrichs webiste they have a site created just for what you are going through. Its called, turnkey-reviews. Just as an FYI I don't have any affliation or receive any kind of kickbacks from them. I just think it is a ccol site. I think Jay may also have some kind of book on How to buy Turnkeys out of state, that would probably be a good read for you as well.
Just my .02. Good Luck.
Andrew
@Allison Karrels - we don't have them on the site yet, so no reviews of them but I can put them up
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Real Estate Agent Illinois (#471.018287) and Wisconsin (#57846-90)
- http://www.MidwestRESummit.com
- Podcast Guest on Show #132
Looking on their site they only have homes for sale in St Louis and then doing some events in Indy. Never heard of their company.
@Allison Karrels I highly recommend working with someone on the ground in the market you are interested in investing in. They will be invaluable to you if you are investing out of state. In Indianapolis the market varies street by street.
I would second comments of Ben, VISIT properties, winter season is best time in states where it is snow (East/Midwestern states), I'm finding poorly managed investors, poorly managed flips or owner occupants are desperate to sell at any reasonable price. I would not rely on a website which could be very subjective, last thing you need is a busted up property with no furnace or pipes and basement flooded :)
@Allison Karrels I, too, am a fan of Matt and love his podcasts. My personal opinion is if he is a snake oil salesman, he's a darn good one, but I haven't done any business with his company. As @Andrew Cordle mentioned, Brie and Jay put up a good site on turnkey providers.
There are a lot of people who think St Louis is a good market right now. And there are some fantastic areas to invest in. But there are some really weak ones as well. You really need to know the market.
You could look over at http://stlouisrealestatenews.com/ for some good information about the various markets in the St Louis (MO) area. He doesn't cover anything over in the Metro East.
Hey Allison,
I have listened to pretty much all of Matt's podcasts and have received info on his services. Have learned tons and love his mindset. I would suggest visiting firsthand multiple times as others have suggested. There's always issues with any investment, as the term "turnkey" is quite political here. It's not the issue so much as the team you have and how the resolve them that counts I think. I personally found an area 2 hours from me and partnered up with good people to create my "turnkey" solution. Took about 2 months of actual visiting to make the decision. But was well worth it So, take a couple of visits wherever you decide. Matt sounds like a great partner. But just have to do your homework a bit as you know!
Hope that helps..
do your general due diligence for ANY provider:
ask for referrals that are 2+ years
ask questions if they actually been in that market or know the area intimately
ALWAYS do a 3rd party inspection (before and/or after) (imho)
ask for diff angle pictures per rooms/sections
ask if the TK provider has ANY warranties ... if not walk away (imho)
ask how long have they been working with PM there. surely they will refer you to one
are they investors in that area themselves and are they using the SAME PM (how long)
who is managing the rehab, at what level (lipstick ... full rehab) if he/she says "rent ready" ASK for details and make sure it is in writing.
just a few things i can think of.
not in any order ;)
Lots of well intentioned comments, largely based on conjecture though since I think only one responder had actually worked with them. They have a $2,500 escrow deposit that is 100% refundable if a purchase isn't made before you can actually view their listings, things may have changed since when this post was originally written and now because my business parent has been corresponding with Mercedes back and forth since the new year. we're thinking about giving it a try, if for no other reason than to see what the business model is so we can emulate something similar in our own market. If we move forward with them I will post my experiences.
Sounds , too good , you would have to invest 50-80k & cash flow 6500 a yr .. So 7-10 yrs to recoop, investment , guess , you just gotta do your numbers
I was looking into them too, so happy to hear any experiences people have had.
has anyone done any deals with cash flow savvy yet? I'm looking into 2 different TK companies. Cash flow savvy and Norada real estate. which do you guys recommend?
Originally posted by @Steven Fitzen:
Lots of well intentioned comments, largely based on conjecture though since I think only one responder had actually worked with them. They have a $2,500 escrow deposit that is 100% refundable if a purchase isn't made before you can actually view their listings, things may have changed since when this post was originally written and now because my business parent has been corresponding with Mercedes back and forth since the new year. we're thinking about giving it a try, if for no other reason than to see what the business model is so we can emulate something similar in our own market. If we move forward with them I will post my experiences.
Hi, Steven, any follow up? Thanks.
@Patrick Faherty sorry for the delayed response. I ended up not moving forward with the company, not for any reason on their part just that a lot of the monthly returns weren't high enough for me to justify taking up that space on my mortgage roster, instead I'm focusing on multi families in San Antonio now.
@Steven Fitzen Thanks for the update. I hope things are going well in SATX!
Has anyone recently invested with them? I am now considering for one property