All Forum Posts by: Brian Bradley

@Christian Hutchinson good to know. thanks. 

Gordon Starr sorry you have such a stereotypical view of lawyers. Asking for client reviews is standard in business. And asking to talk to one who he had an issue with is good business practice and actually recommended. It lets you know how he resolves problems and customer services. Because a person asks questions does not make them litigious or a future problem. It decreases problems in the future by vetting the person you are going into business with and giving money to before you go down the road. Heck Gordon it’s standard marketing 101 to provide client reviews and a review of a client who had an issue and how the issue was resolved and how that relationship went from their. You want to go into business with people who have good customer services and skills and when problems ever do come up actually work to resolve them without lots of unnecessary court time. But keep living in your stereotype of lawyers bro. I’m sure you’re good At stereotyping everybody in your life.

@Lane Kawaoka I would most definitely prefer to just work with actual investors and partners on projects. But like you said, their is a time and place for turnkey. Every market and situation is different. But in this situation the TK Guy was actually the owner of a turnkey business who owned the properties. So he was not a middle man or W2 employee. 

Thanks @Chris Clothier for the kind words. My legal practice I try to run it like what it is, a service provider, and I don't forget it. So I will spend as much time as I need to with clients even over the stereotypical 1 hr free consultation to go over their issue in depth and options and ease their concerns. But I also spend lots of time on pre-consultation issues and trust building before I even sit down with them for the 'one hour' so we are more productive and further beyond the emotion of the matter. I do this with initial questionnaires and pre-intake follow ups to narrow down issues. The same is with most service providing companies and real estate. To @Jay Hinrichs point, I have never had any issue with him having a different opinion on topics and don't think he has one on this matter. The only difference I see on this on how much time to spend on on pitching a client until it interferes with production. Me personally, so long as the conversation keeps moving forward and the questions are not to much circular and are reasonable questions I answer them all day for however long. Money and legal issues are huge areas for people. My questions with this guy just focused on his business structure, processes, services, expectations from him and I, etc. (non of which should have gotten a push back).

Do the hard work yourself and due diligence before you give a dime and that means building the foundation of respect and trust. It means verifying every thing that is being said. Its a long term game in real estate, and in law. And I totally agree that any FAQ will be to generic and force more specific questions off them then accomplishing anything beneficial from a potential buyer who really analyzes deep into deals and the numbers and legal contracts they sign. 

Really good post and article. I am going to get the book series just to read them myself. But it just makes sense to invest and follow the jobs, weather and access to travel. Millennial's are a much larger demographic group then even the baby-boomers, and now they are getting better jobs, in relationships, getting married, having kids, and now moving to the suburbs. Follow the migration and be ahead of it. But also know the your target market and if they can afford those areas. Depending on the city, I do like the urban redevelopment push (heck I even live in one out side of Portland), as well as @Anthony Gayden point of looking on the outskirts of the cities and suburbs were the raw land is to build and cheeper taxes, fees etc. Which is what I am doing now. Looking in the farther suburbs that need to be re-developed and where the young urban professionals will be looking to purchase their starter homes, or rent. But my target for REI is Millennial YUPPIE's establishing themselves.

And thanks everyone for your great comments and participation. and thanks to @Jay Hinrichs for taking his time to contribute to this forum and @tom 

@Tom Ott @Holly Williams and other turnkey providers and syndicates that joined in the topic. 

Jay Hinrichs and I’m sure you have a better provider system and structure then your younger guys since you have been doing this a lot longer.

Jay Hinrichs I don’t think we are saying much different. Do your job, but you still have to verify all the information you are told and numbers given by the provider and not just take what they say at face value. Especially regarding their services. For example if they have a discounted deal with a PM and tell you what the PM provides and the costs, but then refuse to provide you with the PM name and contact info to verify the agreement with the provider that is fishy. If the PM as says answering your questions is a waist of my time and I don’t work for trust it’s just given to me, that’s a problem. Many turnkey providers replied saying they have zero problem answering potential clients questions since the business structure really is long term relationships which starts with trust. And relationship building. Which takes time. Your idea of a frequently answered question page is good but company specific. And I don’t believe theirs a to tough buyer. Just providers who are to impatient and don’t value relationships building. Hell my law clients get very time consuming and emotionally draining but you still have to answer all their questions and at times hold their hand. Business is about trust and relationships. Purchasing property is not difficult. Contracts and the legal side of what the contracts say and what binds you are. Those control in bad situations. So know what is covered ask as many questions as you want and ask everything you can think about to know what the service providers numbers actually cover and what the words mean in contracts you sign. And some people just can’t work together. But st the end of the day all the provider is doing is providing a property. No need for ego or attitude since once the deal is done you don’t talk to that provider again until the next deal. Your only infraction would then be with the PM.

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@Matt R. that is the point. Its all the same due diligence and homework. Turnkey or not. That is the point of the post. Its all the same work and do not think you don't need to do it just because its turnkey. 

@Matt R. David Greene wrote a great book called Long Distance Real Estate Investing and was on the BP podcast. Great info in investing out of state. He is a full time cop in SF had to invest out of state and work a full time job so can't just up and travel to see a property. But systemized everything. Great listen and read.