Any one used Martel turnkey before?
Rental Property Investor · Green Bay, WI · Member since 2018 · 36 posts · 24 votes
Any one used Martel turnkey before?
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Attorney · Irvine, CA · Member since 2018 · 19 posts · 22 votes
7yI just had my parents purchase a single family home from Martel Turnkey in Birmingham. The process was smooth and I am very happy with the property manager we have managing the property. I had met Antoine Martel at an LA Meetup. I asked him if I could take him to lunch to pick his brain. I gave him some ideas and he gave me some for what I am trying to achieve in the real estate arena. I wanted to break bread with the guy before I did any business with him. I am a criminal defense attorney in Southern California so I needed to cross examine him in person. I explained that my parents are on a fixed income but looking to generate cash flow to help them with costs for their assisted living. He helped me in suggesting a property, got me a better rate for insurance for the property and found me a lender in St. Louis who I now use on all my residential loans. In fact, today I just wired money for a duplex I am purchasing on my own using Antoine's bank that he refers to his turnkey buyers. He has been straight with me from the start and I would trust him to do another turnkey rental for my parents once we build enough reserves and pay down some other debt. I hope that whomever you chose for your turnkey property you get the same satisfaction that we have had with Martel Turnkey.
54 Replies
- Real Estate Consultant · Fayetteville, NC · Member since 2017 · 151 posts · 144 votes7y
I'll be following this thread to hear more. I am not sure about Martel. I have used Easy Street Properties. I have heard great things about Memphis Invest. I can give you my overall pro and cons from my point of view.
Turnkey Pro:
Very smooth transactions
A little effort upfront and then mailbox checks after
Turnkey Cons:
Typically will pay above market value
cashflow is tight if financed
Overall I believe that if you want to make a simpler investment, turnkey is a good choice. However, you lose a lot of equity potential and cash flow when using that type of investment model. Either way, if using a turnkey company go for one with a solid track record. I have been looking at some of Martel Turnkey properties too. They look good so Im curious to hear some of the feed back.
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes7y
Originally posted by @Joshua Paul:
I'm looking to start buying turnkey rentals in the next few months and I came across Martel turnkey. They seem legit, but I am hoping to get feedback from others who have purchased properties from them in the past. What was your experience? Pros and cons of working with them?
Thanks everyone!
My understanding is that he renovates properties then sells them to investors. He isn't a broker or PM so the management will be done by whichever local 3rd party PM you choose after the sale. So what you'd want to do is simply vet the product you are buying. A house is a house. Get an inspection & appraisal on the property. Ensure that the rental estimate provided is accurate to what can be expected in the market & you'll be just fine.
- Rental Property Investor · Green Bay, WI · Member since 2018 · 36 posts · 24 votes7y
@James Wise thanks! I like the straight forward answer. I think a lot of times we complicate the investing process. I like the idea of looking at it that way. A house is a house no matter who you buy it from.
- Rental Property Investor · Green Bay, WI · Member since 2018 · 36 posts · 24 votes7y
@Michael Glaspie thanks for the reply! I think you bring up a lot of good points. I am also hoping some who have done prior business with Martel will time in on this list.
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes7y
Originally posted by @Joshua Paul:
@James Wise thanks! I like the straight forward answer. I think a lot of times we complicate the investing process. I like the idea of looking at it that way. A house is a house no matter who you buy it from.
Exactly.
- Rental Property Investor · Culver City, CA · Member since 2012 · 403 posts · 246 votes7y
I've done business with MartelTurnkey. I'm a private lender to them. (But my money is spoken for so no need for anyone to hit me up.)
Antoine is top notch. That's why I invest with him. I've bought turnkey in the past, not from him, but I've been investing out of state for over 12 years. He's one of the best I've seen. I've walked his rehabs and witnessed his process with his customers.
In my experience his houses rent relatively quick b/c they look great and they are at or below market prices. His values are also spot on. He has told me if an appraisal comes in low he just adjusts his numbers accordingly. But you may want to ask him about that.
Overall I've been impressed with his operation. But good luck with whatever direction you go. And just LMK if you have any other questions.
- Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes7y
Originally posted by @James Wise:
Originally posted by @Joshua Paul:
I'm looking to start buying turnkey rentals in the next few months and I came across Martel turnkey. They seem legit, but I am hoping to get feedback from others who have purchased properties from them in the past. What was your experience? Pros and cons of working with them?
Thanks everyone!
My understanding is that he renovates properties then sells them to investors. He isn't a broker or PM so the management will be done by whichever local 3rd party PM you choose after the sale. So what you'd want to do is simply vet the product you are buying. A house is a house. Get an inspection & appraisal on the property. Ensure that the rental estimate provided is accurate to what can be expected in the market & you'll be just fine.
Correct James. We actually give all of our clients 3rd party property management on the ground.
- Attorney · Irvine, CA · Member since 2018 · 19 posts · 22 votes7y
I just had my parents purchase a single family home from Martel Turnkey in Birmingham. The process was smooth and I am very happy with the property manager we have managing the property. I had met Antoine Martel at an LA Meetup. I asked him if I could take him to lunch to pick his brain. I gave him some ideas and he gave me some for what I am trying to achieve in the real estate arena. I wanted to break bread with the guy before I did any business with him. I am a criminal defense attorney in Southern California so I needed to cross examine him in person. I explained that my parents are on a fixed income but looking to generate cash flow to help them with costs for their assisted living. He helped me in suggesting a property, got me a better rate for insurance for the property and found me a lender in St. Louis who I now use on all my residential loans. In fact, today I just wired money for a duplex I am purchasing on my own using Antoine's bank that he refers to his turnkey buyers. He has been straight with me from the start and I would trust him to do another turnkey rental for my parents once we build enough reserves and pay down some other debt. I hope that whomever you chose for your turnkey property you get the same satisfaction that we have had with Martel Turnkey.
- Attorney · Irvine, CA · Member since 2018 · 19 posts · 22 votes7y
Originally posted by @Joshua Paul:
I'm looking to start buying turnkey rentals in the next few months and I came across Martel turnkey. They seem legit, but I am hoping to get feedback from others who have purchased properties from them in the past. What was your experience? Pros and cons of working with them?
Thanks everyone!
I just posted a response for your review. If you need any further discussion please feel free to reach out. Good luck in your real estate endeavors.
- Rental Property Investor · Green Bay, WI · Member since 2018 · 36 posts · 24 votes7y
@Jason Carter thanks for the feedback and insight on your experience with Martel Turnkey.
- Rental Property Investor · Green Bay, WI · Member since 2018 · 36 posts · 24 votes7y
@Vincent John Tucci Hey Vincent thanks for the feedback!
- Rental Property Investor · Green Bay, WI · Member since 2018 · 36 posts · 24 votes7y
Hey guys, just curious what your cash flow is on the deals you got through Martel and how you financed the deal?
Thanks in advance!
- Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes7y
Originally posted by @Joshua Paul:
Hey guys, just curious what your cash flow is on the deals you got through Martel and how you financed the deal?
Thanks in advance!
Joshua.
Most of our clients make cash flow per property of $200-250/mo.
Most of my clients buy rental properties through conventional financing and I have lenders ready to go for you.
- Investor · FL · Member since 2018 · 2 posts · 7 votes7y
FWIW, I looked into MemphisInvest too, but I didn't feel comfortable with the lack of transparency regarding pricing. You can only get their "secret" list by contacting them directly and getting it emailed to you. I prefer a company where I know for sure I'm seeing the same deals as everyone else.
- TX · Member since 2017 · 70 posts · 38 votes7y
Yes I have done business with Antoine/Martel for the past year, but not as a turnkey investor. I am a PML and equity investor.
- Rental Property Investor · San Antonio, TX · Member since 2017 · 6 posts · 3 votes7y
Have bought 2 properties from MartelTurnkey in 8 months. Both properties have been cash flowing since day 1. Really happy with my rentals. Also worked with Antoine as a PML. Really cool guy!.
- Member since 2020 · 2 posts · 7 votes6y
Hi Joshua,
I purchased two properties from Martel Turnkey via Antoine Martel and it has been an absolute nightmare of an investment. Antoine lied about the condition of the properties and rehab work, and set me up with what has got to be one of the worst property management companies out there, despite his reassurance that they were a great company to work with.
Regarding the condition of the properties, I had to shell out an extra $8k in repairs shortly after acquiring. On one of the houses, Antoine told me the roof was in good condition and had been patched to prevent any leaks, despite my concerns from a home inspection. I went along with it, which was a mistake. Shortly after, my home insurance company dropped coverage due to the condition of the roof and then leaks starting happening when rain came.
The worst part of all of this has been the property management company he set me up with - Trek Property Management. They have ONE employee managing over 300 properties. Average response time was 8-10 days for any issue. I tried getting in contact with the owner of the prop co, Jeffrey Smith, for over a year to express my concerns. I still have yet to receive a call back. One of my tenants had to be evicted for not paying rent and it took them 8 months to finally remove them. These were tenants that were put in place by Antoine and the property management co had never had a credit or background check done. Another shady detail Antoine forgot to mention. As you can see, an absolutely shambolic prop co. Antoine did not disclose any of this to me when we were setting up the contract.
I have another friend who bought a property from Antoine and has had a similar nightmare experience. A lot of this is my fault for blindly trusting Martel and not doing my own research into good property management companies. I was a new investor into out of state rentals and did not know what I was doing. I've learned a lot from the experience, and one lesson is to stay far away from Martel Turnkey. - Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes6y
Originally posted by @Jeremy Hoffing:
Hi Joshua,
I purchased two properties from Martel Turnkey via Antoine Martel and it has been an absolute nightmare of an investment. Antoine lied about the condition of the properties and rehab work, and set me up with what has got to be one of the worst property management companies out there, despite his reassurance that they were a great company to work with.
Regarding the condition of the properties, I had to shell out an extra $8k in repairs shortly after acquiring. On one of the houses, Antoine told me the roof was in good condition and had been patched to prevent any leaks, despite my concerns from a home inspection. I went along with it, which was a mistake. Shortly after, my home insurance company dropped coverage due to the condition of the roof and then leaks starting happening when rain came.
The worst part of all of this has been the property management company he set me up with - Trek Property Management. They have ONE employee managing over 300 properties. Average response time was 8-10 days for any issue. I tried getting in contact with the owner of the prop co, Jeffrey Smith, for over a year to express my concerns. I still have yet to receive a call back. One of my tenants had to be evicted for not paying rent and it took them 8 months to finally remove them. These were tenants that were put in place by Antoine and the property management co had never had a credit or background check done. Another shady detail Antoine forgot to mention. As you can see, an absolutely shambolic prop co. Antoine did not disclose any of this to me when we were setting up the contract.
I have another friend who bought a property from Antoine and has had a similar nightmare experience. A lot of this is my fault for blindly trusting Martel and not doing my own research into good property management companies. I was a new investor into out of state rentals and did not know what I was doing. I've learned a lot from the experience, and one lesson is to stay far away from Martel Turnkey.This is completely false.
- Member since 2020 · 2 posts · 7 votes6y
Originally posted by @Antoine Martel:
Originally posted by @Jeremy Hoffing:
Hi Joshua,
I purchased two properties from Martel Turnkey via Antoine Martel and it has been an absolute nightmare of an investment. Antoine lied about the condition of the properties and rehab work, and set me up with what has got to be one of the worst property management companies out there, despite his reassurance that they were a great company to work with.
Regarding the condition of the properties, I had to shell out an extra $8k in repairs shortly after acquiring. On one of the houses, Antoine told me the roof was in good condition and had been patched to prevent any leaks, despite my concerns from a home inspection. I went along with it, which was a mistake. Shortly after, my home insurance company dropped coverage due to the condition of the roof and then leaks starting happening when rain came.
The worst part of all of this has been the property management company he set me up with - Trek Property Management. They have ONE employee managing over 300 properties. Average response time was 8-10 days for any issue. I tried getting in contact with the owner of the prop co, Jeffrey Smith, for over a year to express my concerns. I still have yet to receive a call back. One of my tenants had to be evicted for not paying rent and it took them 8 months to finally remove them. These were tenants that were put in place by Antoine and the property management co had never had a credit or background check done. Another shady detail Antoine forgot to mention. As you can see, an absolutely shambolic prop co. Antoine did not disclose any of this to me when we were setting up the contract.
I have another friend who bought a property from Antoine and has had a similar nightmare experience. A lot of this is my fault for blindly trusting Martel and not doing my own research into good property management companies. I was a new investor into out of state rentals and did not know what I was doing. I've learned a lot from the experience, and one lesson is to stay far away from Martel Turnkey.This is completely false.
This is not false, and I have no other reason or agenda to make this statement and I have documentation to prove it. It's my duty to warn others of your shady business practices. That being said, 70% of my problems were due to the property management company, but they came at your recommendation which speaks volumes about who you choose to do business with. The other 30% is related to your dishonesty, false assurances, and shortcuts on your rehab work.
I have a friend who has had the same exact experience as me, and we'd be more than willing to share more about our experiences with anyone interested. - Real Estate Agent · Memphis, TN · Member since 2019 · 261 posts · 253 votes6y
I've worked with him as an Agent in Memphis and he has a hell of an eye for what tenants want in a rental and the ability to get the work done to get market or above rents all on a budget to keep it affordable to the end-buyer. He's on the ground checking units out and not doing it from a desktop somewhere to satisfy the spreadsheet, so that's a big plus in my book.
- Rental Property Investor · San Francisco Bay Area · Member since 2020 · 17 posts · 5 votes5y
@Joshua Paul, did you end up working with them? I'm starting to check them out and very interested in working with them.
- New to Real Estate · Bay Area · Member since 2021 · 3 posts · 14 votes5y
First time home buyer. I purchased a property from Martel Turnkey last year in Cleveland. Hadn't even seen a picture of the house, just trusted the process. The reno came out way better than my expectation and appraised 7k above what I paid. Got a great rate from their lender and insurance was quick and easy. The PM they set me up with, has been in constant contact with me and they are awesome. The place was rented above estimate instantly. I've literally done nothing and I'm making 300+ cashflow a month. Already planning to get my 2nd in August
- 5yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Ben Greenlee:
First time home buyer. I purchased a property from Martel Turnkey last year in Cleveland. Hadn't even seen a picture of the house, just trusted the process. The reno came out way better than my expectation and appraised 7k above what I paid. Got a great rate from their lender and insurance was quick and easy. Remax, the PM they set me up with, has been in constant contact with me and they are awesome. The place was rented above estimate instantly. I've literally done nothing and I'm making 300+ cashflow a month. Already planning to get my 2nd in August
no offense but on BP one post that is glowing like this is the kiss of death for the turn key company.. screams of a schill
plus having owned personally over 300 rentals in the mid west markets I know first hand its not all perfect.. can be but also can be nighmare choose carfully.
- New to Real Estate · Bay Area · Member since 2021 · 3 posts · 14 votes5y
Hi Jay. Not a shill just posting my personal experience here so no need to diminish. Anyone can reach out personally and I can show facts if they really care that much. Thanks
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