All Forum Posts by: Jeff Schechter

I agree with @Hank Keller.  Every single comment on this thread is screaming TurnKey.  ESPECIALLY in the MidWest.  The whole point of TK is to help and bring tremendous value to investors like you.  

@Michael McKenzie actually I've personally used neither. I started the process with MCC, and they were great, but our TK company here in Indy has been swamped with new business, and I'm focused on that. I'm researching moving my personal LLC, and until that happens, I'm not making any moves. Once this is resolved, I'll get the process started with MCC. I like their program and approach better.

My biz partner sold nearly all of his stocks to buy properties in Indy.  Better returns, and owning something of value.  A property is something you can own, pass down, continue to generate profits, etc.  A stock certificate is a promise of a tiny portion of company, with no equity, run by someone you don't know.

Your properties will still be around in 30 years.  Will those companies you invested in still be around?  They're only worth what people are willing to pay for them, and you can't rent them out.

Hey @Reyes Velasco,

Welcome to BP!  You actually should do the math.  Get an idea of how much equity you have in those properties, especially the ones you paid cash.  Do a cash out refi, and add that cash to your $60K so you can buy more properties.  Once that purchased is seasoned (3-6 months), repeat the process and buy more.  You've got a great start towards having a solid empire!

Hey Paul,

We run a TK here in Indy, which has similar price-to-rent ratios as Cleveland. Doesn't sound like a bad deal, but the key to making it work will be management.  At that price for a 4-plex, it's most likely a C-, maybe even a D+.  So, you'll have to be using a PM company that is ruthless about marketing, placement, collections, and upkeep.  You'll also have to make sure that the property is "pretty" enough to attract renters that will be the kind you want. 

What we find in Indy is that the 4-8 plexes in the C- zones look fantastic on paper, but they just don't stay rented.  We could have a nice duplex on the same street, that actually will do better in the real world than the multi-plex because (with great management) it will stay rented.  We'll fix them to be more of a C+ too, thereby attracting the better tenant to begin with.

Hope that helps...the numbers are just a good starting point.  PM me if you want more insights.

Very familiar with them.  We were buying from Clayton's same supplier for a while.  Happy to give you insights.  PM me if you'd like to know more.

Hey @Daniel Kim,

We operate a very successful TK company here in Indy.  Happy to answer any questions you may have.

We operate a successful TK company here in Indy.  Happy to answer any questions about our market.  PM me if you want more info.  

Talk to Man Phung at Brightway Insurance in Fishers, IN.  Tell him I sent you.

We run a successful TK company here in Indy.  Happy to answer any questions.  PM me if you want to know more.