All Forum Posts by: Kevin Lee

We did a bunch of research on where to purchase a turn key property with management in place. We vetted a handful of "turnkey" companies and REI Nation was the best in terms of reviews across multiple sources.

We had a call set up for a Monday in December and by Friday we found the house we wanted to purchase through them. We should be closing by the end of the month and the tenant is already in place. If all goes well, we should be cash flowing right away. They have a few markets and we chose Memphis as our first property. (We're from California as well)

Everything has been extremely smooth so far and their staff has been excellent with their customer service.

FYI, we were able to get a 5.5% rate from their recommended lender with 20% down. Feel free to PM me if you have any questions.

0 Votes

Quote from @Aristotle Kumpis:

Hi Nithin. I have some brand new homes in Phoenix that cash flow with 25% down. Property management is also in place.

Just curious, are you advertising these as for sale or was this an FYI? Thanks!

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Phoenix, Arizona

Quote from @Dominic Holt:

Jackson,

Yes, please. Feel free to send me her info.

Hi, I'm looking to get into the Phoenix area - Did you ever rectify your PM issue?

0 Votes

Phoenix, Arizona

Quote from @Jared Smith:

@Kevin Lee congratulations on getting started! #1 is the scary one!

Thank you! It has been a very smooth experience so far compared to past experiences!

1 Vote

I just signed a contract with the turn key company REI Nation today to invest from California. Feel free to PM me if you have any questions.

2 Votes

Would love to revive this post in hopes of gaining more info.

1 Vote

Years ago, my elderly neighbor expressed his concern to me about our trees leaning towards his home and that he wasn't trying to be a pain. He said that his insurance company insisted that he document him notifying me of trees on my property that could potentially fall on his home due to a very aggressive angle. He approached me like a gentleman and expressed his valid concerns. I ended up having the trees cut down. Have you gotten the chance or considered speaking to your neighbor?

4 Votes

Allentown, Pennsylvania

Just curious, did you ever find the right B neighborhood to invest in?

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Joshua Tree, California

Quote from @Taylor Kendrick:

Quote from @Ryan Konen:

Older multifamily properties, like the one you’re considering from 1920, can be solid investments, but there are key areas to assess carefully. Older buildings often have charm and character, but they may also come with maintenance challenges. Common concerns in pre-1940s buildings include outdated plumbing, old electrical systems, and structural issues that could be costly to bring up to modern standards. The brick construction is a plus for durability, but check for any signs of foundation issues, especially if the property has settled over the years.

Be sure to budget for updates to key systems—plumbing and electrical upgrades can be pricey but crucial for tenant safety and modern functionality. Lead-based paint and asbestos are other potential issues with older properties, so get an inspection to assess any environmental risks. If the property has a solid inspection and a healthy maintenance budget can be set aside, these older properties can be very profitable. Many investors see no "hard line" on age as long as there’s strong cash flow and maintenance is manageable, but ensuring you’re prepared for any age-related quirks is essential.

Thanks for this, Ryan. What kind of businesses would you search for in order to conduct the various inspections/assessments I would want to do for a property of this type?

A reputable home inspector would be able to point you in the right direction. A lot of them will only point you in the "right direction" and have you consult with a licensed professional in that field (ie. structural engineer, licensed electrician, plumber etc) if there are any concerns.

1 Vote

Since we're speaking CA, what do you guys think of the idea of purchasing a home in the 600s and then adding a detached ADU to rent both units out and refinancing?

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All Forum Posts by: Kevin Lee

Kevin Lee has started 6 posts and replied 38 times.

Post: First Rental Property - TurnKey Options

Post: Suggestion for Rental Properties around Phoenix, AZ

Post: Property Management Recommendations AZ?

Post: Starting our investing journey. But how to that that out of my home state?

Post: Starting our investing journey. But how to that that out of my home state?

Post: REI Nation Experience

Post: Take my neighbor to civil court over dead tree?

Post: Safe and stable investment: Do I buy rental properties or keep money in a HYSA?

Post: How old is too old? (or, what should I know about homes built in 1920?)

Post: Investing In California ?