GC Realty Investments

[Ryan Fox]

I was interested in purchasing a turnkey SFR from GC Realty in the Chicago area as an out-of-state investor. Anyone have any experience with this company? How is the quality of the rehab? Is property management responsive?

Thanks in advance.  

[Andrew Hargreave]

@Ryan Fox, we just closed on our first property investment with GC Realty last week and the whole process went extremely well and fast (faster than my attorney thought was possible).

Granted, I don't have a long-term report yet, but the sales and purchase process went smoothly.  The property appraised for what they were selling it for (of course all the comps used by the appraisers were rehabs done by GC since they're the ones selling lately in this area).  I hired my own inspector and he found a few things to address and GC took care of them prior to closing.  If you want a referral for the inspector, PM me and I'll shoot you his contact information.

Only advice I have is to run your own numbers (I used the calculators here on BP). Like most turnkey providers, their insurance and closing costs are based on their high volume that they can get. Beginning investors like us can't quite get those so that dropped their numbers a bit. However it still was a good deal netting at 14.53% CoC return.

Good luck!  Let me know if you have any other questions.