All Forum Posts by: Axel Meierhoefer

@Vidit S. I am working with Memphis invest and Bridge Trunkey right now and for years have a deal with a company caller Barker in Santa Fe, NM.

I know that Bigger Pockets threads are a little split on it. What is great though is to review what's been said about a company as people often share personal experiences and data.

From a perspective of considering TK as a concept, I highly recommend the book Chris Clothier wrote called "Turnkey Revolution". If someone follows those checklists and you find a company you consider, if they meet all the checks, you will probably have a good experience

I am sorry that I can't find the link anymore but someone created an amazing tool that compares tons of the best TK providers nationwide. I hope someone can find the link on BP for you

@Vidit S. @Travor Jacobs Good advise. The story around Morris is horrible. Here is the thread with all links, court cases etc. https://www.biggerpockets.com/forums/311/topics/689433-clayton-morris-morris-invest-house-of-cards-starting-to-fall?highlight_post=4075847&page=6#p4075847

I am a fan of turnkey and have good experiences but you need to be very selective who to work with.

One thing that does not work is a mindset of trying to get the best possible deal and wanting to find a turnkey for it. That goal and the business model of turnkey don't match.

If you want a solid deal with almost no headache and consistent returns, turnkey with the right partner is great

@James Li Thanks so much for all the updates. I am in the early stages of a 1031 and am selecting turnkey providers. What is concerning to me is the renting situation you are describing. In the materials I studied about Birmingham, it was portrayed as a growing market with high rental demand. You having to wait this long to rent two properties that should have been recently renovated is really scary. In my other two markets, I never had to wait more than 2 weeks to rent/turnover. Maybe Birmingham is not as hot as it has been described or the properties are not nearly as desirable as the proforma's make them look like.

I am growing my portfolio but would not be able to pay all costs (including lending) for multiple non-performing assets. Great for you to able to handle that right at the start when you had zero chance to build any reserves.

I also wonder how this thread is making new investors feel. It sure scares me, especially now that it appears you are not just unlucky.

How do you handle the lack of performance? I assume you probably lost any profit for at least 1 year already?

I am looking into Bridge turnkey in Kansas to diversify from M

@Dan Moore Thanks. Very helpful. On the LLC issue, I think it is more an asset value question. My CA investment property is $750K. I won't bundle that with any other properties but I get your point.

@Michael Ealy, @Justin R. Thanks guys. Appreciate all the help and the summary

@Todd BlytonThanks. I have that life insurance as well

@Tracey Geary I believe so too. For 2 decades my CPA's have always suggested that separation of private and business funds, activities, accounts, is very important. I have always done that and will keep doing it. With more and more tools available and maybe some help from a bookkeeper it should be doable. I do see that I could have more than one property in an LLC, especially when they are not at huge valuations each.

@Ryan Proffit Thanks Ryan. I check that ynab out. For accounts we have been using AMEX high yield savings because of it being all online, amazing AMEX customer service and comparatively great yield with no delay for access or limit on # of accounts.

@Mike Thompson I have always used USAA but am not sure that it is suitable as comparison because it has entry requirements a of people can't meet.