All Forum Posts by: Keith Anderson

Joe, I bought from the same provider using a very similar approach, and we've reached nearly identical conclusions about their strong and weak suits. Do you happen to have stats on the percentage of owner occupants in the neighborhood you bought in? I only considered neighborhoods with 85%+ owners to improve the odds of appreciation.

I don't have direct experience with Clayton Morris of Morris Invest, nor his wife Natali, but I have followed them for years as broadcasters and technology pundits. They have both been featured guests on This Week in Tech (TWIT) for years, and both held various jobs in the mainstream tech media before starting to build platforms of their own. I was bemused when two of my usually separate spheres of interest (tech and real estate) seemed to converge, as Clayton and Natali started pivoting from tech to real estate. They are thoughtful, entrepreneurial folks, and good at building awareness and interest. But I am not sure they are well equipped to run a stable, sustainable turnkey real estate operation. If you are having trouble reaching Clayton, look for him on Twitter, where he seems to be posting every few hours. About two thirds of his tweets are still about tech, and a third about real estate.

Rob M. It's really tough to say after only 6 months. No major issues, a few minor issues. I will say that after the initial diligence (which was significant), I have not had to actively manage much at all. Call me in 2-5 years... That's about the earliest I expect to know what I'm really in to.

Pat M. Agree with Jim Tiernan , would be very interested in more detail / proof of what you're claiming.

Welcome Samuel Dorfman ! I'd be happy to join your list too. Do you focus on a particular area / property type?

I own rental properties in Cook and Will counties and am starting the process for the first time now. Suggest you seek the help of a professional (I have seen others recommend http://railapc.com).

@Marco Santarelli Happy for you to use some of my thinking. Let me know if there's more I can do to contribute.

@Account Closed, and others share positive experiences and if you asked the successful, long-term turnkey operators, they'd probably refer you to satisfied investors too. 

@Account Closed feel the same way.

This subset of active investors either can't understand or openly resents that some of us do not and will not quit our great jobs to become more active real estate investors. 

We are OK with our approach to real estate. And we don't spend our time trying to define ideas like "investing" for others who have chosen to pursue alternative strategies. 

I don't have a guru to quote or a platitude to close with, other than maybe, "Different strokes for different folks."

I agree that it's always better to buy at a discount, but @Account Closed I'm not sure I agree that it's "speculating" to buy retail in cash flowing turnkey markets. Speculation typically refers to assumptions around appreciation, which open-eyed investors probably aren't banking on.

But if:

• they've done diligence and have confidence in the economics of a property (e.g. no inflated rent expectations, adequate allowances for vacancy, maintenance, and capex, etc.); 
• the property cash flows;
• the tenant will gradually pay off the loan, building equity for the owner

why would you not consider a turnkey buyer an investor vs. a speculator? 

Nobody would argue that paying less for the same asset is a superior investment strategy, but is paying retail necessarily not investing?

@Patrick Young

I did tour their neighborhoods and their operations, and I'm actually closing on 2 properties with them today (just completed paperwork actually).

You definitely have to do your own analysis -- their pro formas are junk because of the $0 allowances for maintenance and vacancies. 

But for my goals, they are still a good fit. Properties will cash flow $150-$250/mo. using my conservative assumptions, and they're in primarily owner-occupied neighborhoods, where I want to own. 

I can't give you any feedback on the properties' performance, but I've been pleased with the process so far.