All Forum Posts by: JR Hinds

I started looking in Portland, OR (my hometown) for my 2nd rental property a few years ago. I had a lot of difficulty finding another small multifamily that showed cashflow. I couldn't find anything that fit my model, so I decided that instead of learning a new model, I would learn a new market. After doing some research, I felt like Chicago would be a good fit for me (partly because I have extended family there). Once I picked the market, I started researching Turnkey companies. I traveled to Chicago to interview two companies, and chose Elite. They experienced some growing pains in the beginning, but they've improved a lot since then.

I just got back from another trip, and I'm ready to purchase my 3rd property (which will bring me to 10 units) in Chicago. This model has been great for me, and I'll continue to use it until I have more experience and time. Once my other business starts to slow down, or I sell it, I'll be more hands-on with my real estate investment business. Until then, I need it to be fairly passive. I realize that I'm giving up appreciation when I let the Turnkey company handle the acquisition and flip, but I'm okay with that right now.

I hope that's helpful. Don't hesitate to reach out if you have more questions.

Looking forward to it! I'll be sure to tag more people when I get a chance later today.@Jeff Hamlin

I agree with the other posters here. Turnkey is a tool. If you have the time and knowledge to find the properties and force appreciation yourself, it's not the right tool for you. But if you don't have the time or skills for that, then turnkey can be a great tool. Make sure that you do your due diligence on the turnkey company and know that you're giving up a little appreciation for the work that they will do.

In my opinion, they're not very proactive. They charge less than other PMs, so you're kind of getting what you pay for. But we've had an extended vacancy that I had to keep following up on, and a tenant who was over 2 months late on rent, and I had to keep following up on that too. Just yesterday, I found a few errors on the statement, and I may have to follow up on those.

That said, most of these issues started when they had a lot of turnover with my main point of contact. For the last few months, I've had the same person, and she seems pretty solid. These might have been growing pains.

Yeah, I've purchased 2 properties from them in the last few years. They had some challenges on the property management side (a lot of staff turnover, and they needed a lot of oversight), but they seem to have fixed those issues.

I think it's a good model for someone with a full-time job who wants to grow their passive income. I'm heading back in a few months to look at more properties. But I'll be interviewing another turn-key provider when I'm there, just to see the difference.

Sorry, I won't be having any sort of live stream. It will just be a networking event, so a live stream wouldn't be of much benefit. But we're planning to have these once a quarter. Hopefully, you can make it up for one some time.

@Kevin Bull

@Eli Winkelman @Thomas Jung @Jeff Hamlin @Blake Wehling

After the success of the Spring event that @Robert Laird set up, we're hoping to have one of these events every few months.

At the last event, people had some great discussions and made new friends.

The next one is right around the corner. We'll meet at Vintner's Cellars from 6-9pm on July 12th. We will have a no-host bar with a lot of great wines.

There won't be any pitching of products or services at this event. It's just intended to help us get to know our BP friends a little better.

If you are interested in attending this event just post in the thread below so we know how many to expect.

The county I'm where my rental is in Portland is also very tenant friendly. As long as I have a good property manager, who's on top of everything, I don't think it's a big factor.