All Forum Posts by: Jeff Schechter

@Llewelyn A. If we did as you suggested, and sold subpar, we'd be out of business in two weeks.  We ONLY acquire properties that will meet our stringent criteria up front.  We also buy our own properties for our personal portfolios...not cherry picking, but what's available when we have the cash personally, as they ALL perform similarly. 

All of our investors live in areas where the price-to-rent ratios are nowhere near what they can get in their local area.  None of our investors have ANY desire to manage crews, do acquisitions, or manage tenants.  They have full-time jobs and other ventures.  TurnKey is simply a way for them to leverage our economies of scale and expertise, so that they can get the same returns, without doing the work.  

@Kenneth Lowry

1.  1.5 years...about 75 investors now.

2.  Since inception.  We started as investors, had good luck with who we were buying from, started sharing with family and friends, then decided we could do it better than what our provider was selling us.

3.  We partner with a local investor who was the only PM in Indy who could satisfy the criteria of what we were looking for...that list is very long, but does include a number of protective measures, and makes sure that we do rehabs correctly.  We found from personal experience that when the rehab company and the PM company are the same, it's way too easy to hide things.  I'm well aware that the having the PM and rehab company be the same team is like a mantra here on BP, but we have lived through it, and that argument is patently false.  We do an amazing job on rehabs (we even offer our investors a warranty on our properties), but the PM company does a far better job for our investors than we ever could...they've got it very dialed in.  We operate as a team though...as an example, there is an investor portal where we can monitor the activity on all of our investor's properties.  They have full access to information, and we see the same things they do.

4.  Not interested in any "convincing."  My business partner and I are investors just like you and everyone else on BP.  I've been an investor for many years, and am an entrepreneur.  I've had a number of successful businesses...so has my partner.  We have ZERO interest in doing anything mediocre.  I left my home in Texas to move to Indy to do this, as I felt very passionate about what we could create.  Given the age of Social Media and transparency, no TK company (or any company for that matter) is going to be successful without providing real VALUE to their customers.  Should you want more info about our properties our our processes, feel free to PM me.

@Kenneth Lowry.  As a partner in a successful TK company, I agree with @Clayton Mobley.  Use the connections to poke around, learn some of the stats of the city, etc.  

In the end, there are really THREE things that are going to make or break a good TK purchase:

1.  A great city with good growth, stability, and price-to-rent ratios.

2.  A PROPER Rehab, without cutting corners.

3.  Great Management.

Make sure you have these 3 things in place, work with a solid provider, and you'll do great!  PM me if you want more info on Indy...that's where we buy our own rentals, and operate our TK biz.

@Joshua Zapin We operate a very successful TK company in Indy.  I'm happy to visit with you about the merits of Indy.  Of course, processes are everything.  PM me if you want to know more.

We operate a successful TK company here in Indy, and don't have any trouble in the C-class neighborhoods...probably for a few reasons... 1.  We do a proper rehab.  2.  We have amazing management.  3.  We know the town, and yes...one street can be different from the next.   We invest in our own product, and do quite well.   To @Jay Hinrichs point, there are plenty of players in the Indy market that don't do it correctly, so you do have to know who you're dealing with.  

@Erik Keim  We operate a very successful Turnkey operation here, and understand every street here.  PM me if you want more info.

Most of these services work well with 680 or above.

@Mark DelRosario We operate a very successful TK company here in Indy, and refer all of our insurance business to Man Phung at Brightway.  He owns the brokerage, so you're not dealing with an agent...he has access to 30 different carriers and is awesome on pricing AND service.  PM me, and I'll send you his contact info.

We are doing really well in Indy.  Great price-to-rent ratios, stable workforce, and the city is going through an incredible renaissance.  Although we only invest for cash-flow, we are also seeing some nice appreciation.

We operate a very successful Turnkey operation here.  Things in Indy can vary street by street.  I'd be happy to chat with you about it.  PM me for more details...maybe we can meet up when you're here.