Rent to Retirement TK

10 Replies

We are looking to buy our first out-of-state rental property from Rent to Retirement. Just had an initial conversation with them and lined up a lender. What I’m most nervous about long distance deals is not knowing the area, so I’m doing my own research on the neighborhoods and compare with the information provided by R2R. I’ve come across places where they classified as a “B neighborhood” while other investors/realtors on BP recommend to avoid due to high crime. I understand ratings are somewhat subjective and neighborhoods are also changing, but wanted to see if people who had worked with this company generally find their neighborhood classifications accurate?

Thanks,

Doris

Where is the property....can you give us a city and neighborhood or street?

Remember you don't have to buy turnkey and let someone else take much of your profit.

You can buy rent ready and then put property management of your choice in place.

This gives you way more options on both the purchase and the PM company.

Disclosure: Part of company

@Doris Jin Huang

Thanks for the interest in our company.  There are hundreds of threads with discussions about people's experiences investing with us.  I will direct you to some threads I think would be helpful to review below.  I recommend reading some of these threads to see what investor's experiences have been.  Neighborhood ratings are completely subjective.  We have very specific criteria in terms of what defines a "B" class market.  For instance, we want to see about a 50% tenant to homeowner presence with less than 20% section 8.  We have many other criteria we use to further define a class that I'm happy to explain further.  I would not take zillow/trulia & other online resources as a hard & fast rule to evaluate neighborhoods.  You really need local knowledge to truly understand a specific location.  For instance, my family lives in Boulder county in CO where people pay excessive amounts of taxes just to be in the county school districts as they are some of the best in the country.  When I look up my home online it shows a 3/10 for schools & a moderate to high crime area which couldn't be further from the truth.  Anyways, I think you realize that is not the end all be all.  I'm happy to answer any other questions you have, or explain this evaluation further.  Just let me know.

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/forums/92/topics/893621-rent-to-retirement-review?highlight_post=5222888&page=1#p5222888

https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences

https://www.biggerpockets.com/forums/12/topics/533693-anyone-worked-with-renttoretirement-turnkey

https://www.biggerpockets.com/forums/92/topics/581730-rent-to-retirement-zach

https://www.biggerpockets.com/forums/48/topics/874096-reviews-on-r2r-and-nch?page=1&utm_source=Iterable&utm_medium=email&utm_campaign=Transactional:%20topic_notification&utm_content=Transactional#p5123754

https://www.biggerpockets.com/forums/311/topics/883772-turnkey-investing-renttoretirement-feedback-reviews?highlight_post=5171720&page=1#p5171720

https://www.biggerpockets.com/users/ZacharyCole/references

Hi @Doris Jin Huang !!

I recently worked with Zach and his team at RTR. I closed on my first investment property in October (see post below). For the property I purchased, I can say that the class of neighborhood was accurate. Obviously, as was previously mentioned, ratings are subjective, but for me I thought the rating was fair.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!!

Disclosure: Part of company

@Doris Jin Huang

Yes, we track & monitor as much as we can.  What specifically are you asking in regards to turnover?  Typical turn timeframe to lease to a new tenant, average occupancy timeline, etc.?

Also, in regards to your comment about rent ready houses, yes, I agree with you.  If they are listed on the mls they will most likely be at market value, especially in todays RE market.  Everything is selling at or above market value right now, even if there is some work that still needs to be completed.  Rent ready homes are not deeply distressed properties that need a ton of rehab.  The TK homes we offer are fully renovated & have many standards in terms of quality we adhere to.  Not to mention you are tapping into a professional team to assist you with all aspects of building a successful rental portfolio from the tax, legal, financing, accounting & strategic planning across multiple markets & geographic locations.  This is the value we bring to the table.  We cultivate long term partnerships with our investors that go far beyond just the transaction or sale of a property.  Hopefully this is apparent to you after reading some of our reviews.

Please let me know if you have any other questions on anything.

Disclosure: Part of company

@Doris Jin Huang

I'm happy to.

For the A & B class locations the average occupancy time is 3.5 to 4 years.  Average leasing time is 18 to 21 days.  If you were to divide the 21 day leasing time by 3.5 years you would show an average vacancy of below 2%.  We consistently see between 2% to 4% for vacancy.  Hope this helps.

We typically like to start with an initial phone consultation to learn more about your investment goals/experiences, to thoroughly answer all your questions, and to tell you everything that our company has to offer.  If this is something you would be interested in please let me know, and we can find a time to schedule.