Investor · stockton, CA · Member since 2017 · 12 posts · 8 votes
I have been looking into making my first investment property purchase (SFR). I have narrowed it down to RP Capitol (Ron Phillips) and Memphis invest as turnkey/semi turnkey companies. Both have pros and cons. However, I am still trying to find someone who has worked with RP Capitol to setup their investment property and property manager. Anyone have any thought or advise? Or maybe has utilized both of these companies? Thanks in advance.
Investor · Rocklin, CA · Member since 2013 · 63 posts · 16 votes
7y
I have purchased 3 properties through them during a 1031 exchange. Everything went very well so far. They hooked me up with a fantastic 1031 Exchange company, lender and local property manager. I would highly recommend them.
Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 890 votes
9y
@Patrick Henry The key is to find a great team! Ideally you would find a company that has everything under one roof. Acquisitions team, renovation crews (fully licensed and insured), Property Management, and a Real Estate Investment Brokerage in case you ever decide to sell.
By teaming up with a solid firm you can mitigate your risk and have some "boots on the ground" that have your best interest in mind.
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
9y
Hi Patrick! I don't have any experience with RP Capitol...never heard of them/him. Where are they located or what do they do? I'm a fan of MemphisInvest, more specifically Chris Clothier as I've met with him and really value him, but I've never dug Memphis as a market so never bought through them.
I'm in LA and have always bought turnkeys. Happy to share experiences anytime or let you know if I have specific experience with any company. Message anytime.
Investor · stockton, CA · Member since 2017 · 12 posts · 8 votes
9y
@Ali Boone RP Capital is a company that finds deals (turnkey) in various areas of the country. There numbers on properties look good from what I have seen. They also are known for/as the Wealth Accelerator system. The main face behind them is Ron Phillips (never spoken with him though) they are based out of Utah but do business where the numbers work well. Thanks for the advice on Memphis Invest.
Investor · stockton, CA · Member since 2017 · 12 posts · 8 votes
9y
Not yet. I was able to speak with another investor that used them and gave them a good review. I try to speak with at least three people that have used them before I add them to my list of businesses I use (researched and passed my criteria). Right now I am busy with a transaction, but plan on moving forward in reviewing them in the future.
Investor · Rocklin, CA · Member since 2013 · 63 posts · 16 votes
7y
I have purchased 3 properties through them during a 1031 exchange. Everything went very well so far. They hooked me up with a fantastic 1031 Exchange company, lender and local property manager. I would highly recommend them.
I did a deal on my own, in an area I have invested in previously, and am saving for the next one shortly. I did not use RP yet, but did vet them as a company along with Memphis Invest to possibly use in the future. The area I last Invested in is starting to price out so the numbers are not moving out of the range I would like. So I may use them for my next purchase depending on the circumstances and properties they have at that time. Good Luck!
Fort Collins Cheyenne Abilene, Southern Oregon · Member since 2019 · 2 posts · 7 votes
7y
I just got off the phone with them. Their properties run roughly 10-25% Cash on Cash return and 7-11% CAP rate. I don't love that they only have one picture of the property on their website. The rep said it was because they move so fast....not sure how true that is. So maybe because I haven't worked extensively with them, it's hard for me to see one picture of a property, make a decision in a few hours because the market it so "hot", and feel good about having done my due diligence based on the info I have. Am I being skeptical? I just think you can never have too much information on a property and I don't want to have to go and ask for things that I feel should be out in the open. PS When I asked, the rep didn't know what Bigger Pockets was! That's sort of funny, sort of a red flag for me.
Residential Real Estate Broker · Draper, UT · Member since 2015 · 5 posts · 2 votes
6y
Looks like I'm late to the party. @Patrick Henry, I appreciate the questions and the interest in my company and the thread created as a result. And all who responded especially @NA NA for the kind words.
@Hannah Meksch, you shouldn't ever buy a property without all of the due diligence you need to make a solid buying decision. I think what my team was trying to say is that our properties move quickly so we sometimes don't get the pictures all loaded up prior to them selling as we have many return clients who already know what they're getting and feel confident moving forward. We will certainly supply you with more than one picture and you should also always have a professional inspection done (which we will help you line up). While no company is ever without fault or perfect, we certainly pride ourselves on serving our customers very well before, during and after a purchase.
We look forward to helping anyone wanting to increase their portfolio.