All Forum Posts by: Zach Lemaster

@Javar Hargrave

I would put you in contact with @Joseph Crunkilton who is a bit South in the Portland area, but is a wholesaler.

@Khemaro N.

This is still possible, but you just need the right lender.  Terms may not be as great, but if the equity is there, this IS still an option.  PM me for some suggestions.

@Brian Oberg

Some individual landlords fall into the trap of being "too nice" or simply not raising rents consistently when you absolutely should over time.  Inflation goes up every year, and so should rents & cost of living.  There is no problem with giving tenants breaks (covid), but you do need to consistently raise rents over time, and really set that expectation from the beginning.  If you have an outstanding tenant that you don't want to raise rents in fear of losing them I would still try to be creative to see how you can make it work for everyone.  Maybe they expect the rents to increase, or won't care?  Or maybe you make it a situation where you increase it less if they sign a longer term lease or something?

@Brie Schmidt

Very good insight on all topics!  Thanks for the input.  

Just a clarification on the 10% down option.  It is specifically stated very clearly that the buyer intends to occupy the home at least partially during the first year of ownership.  Anyone electing to do this option would have to use the property in this manner, and would have to sign a disclosure with the mortgage company verifying that.  Cape Coral is an excellent location to live, to vacation & to invest in!  There is a 20% down evaluation for someone who plans to use the property solely as an investment property.  So no, we are not suggesting anyone commit mortgage fraud.  Anyone is allowed to use a secondary mortgage for investment purposes, but there are regulations on how you use the home for both personal & investment use that is clearly outlined in the loan documents.  We make that extremely clear, and it is up to the investor to make the most informed decision.  All your other points are spot on!

@Michael Ramos

We look forward to working with you whenever the timing is right.  Just let us know!

@Ali Boone

Thanks for the input on the thread.  Lots of good info for Austin here.  To clarify your comment though, we both market and directly sell turnkey properties that we 100% own and control.  Last year we did over 60 homes internally across 3 different markets.  We also own many vacant lots, and are partnered with a builder to offer many new BTR homes in FL.  I wanted to add context here as we do operate as a direct provider.  I've had Phil at Maverick reach out previously to sell some of our personal KC stuff, but the numbers didn't make sense for us to sell through them.  I did have them sell some Chicago stuff for me though back in the day in 2014.  I know Maverick is your referral source for most turnkey investments.  Maybe we should start the discussion about us working together?  Excellent blog by the way.  I think that does a very good job outlining the risks of an investor taking on the brrr method on their own.

@Michael Ramos

Happy to discuss with you further over a call during one of our strategy sessions once you are ready to take the next step of investing.  This can be a complicated topic that I could write a short book about, but I will try to keep it brief in terms of my bullet point explanations.

-This is nothing new.  We have seen this for a good portion of last year.  We have not seen any changes in terms of how many tenants are evicted 

-Main take away is that each state is regulated differently, and tenants can still be evicted for different reasons.  This does NOT mean no evictions can take place.  We've still successfully evicted tenants when needed during this time albeit evictions are rare for us in general.  Tenants need to follow very specific guidelines to fall into this category.

-I understand your concern that tenants would take advantage of this, but the reality is that quality tenants are not going to simply take advantage of this and ruin their relationship with their landlord.  If violate their lease they will be evicted which ruins their rental credit to be able to qualify for future rentals.

-Our vetting process for tenants has not changed as we meticulously vet tenants very strictly & have income & employment history requirements to ensure tenants can pay rent, even during these times. 

Main take away is we haven't seen any changes in evictions, rent collections, vacancy, etc., and we don't anticipate to see any changes moving forward.  Please PM or call me with more questions on this topic.

@Austin Shade

Thank you for clarifying.  In the video you are referring to Brandon simply talks about when turnkey makes sense for investors, and when it may not, and he also encourages you to run your own numbers instead of simply trusting numbers provided to you by the seller.  This would be true of ALL investment opportunities TK or otherwise.  I would encourage you to do the same, but also ask about why certain numbers are listed in a pro forma to add some insight.  It is important to know why input data is used, and it's a red flag if there is no justification.  If you have questions about what our company does, or how investor's experiences have been I encourage you to read through some of the threads I posted to give you a better idea of the value we provide to investors.  I think you will find out very quickly we dedicate a lot of time to set our clients up for success, and develop long term partnerships with them.  The next step would be scheduling an initial call with us to answer all your questions in great detail as that is the best way to find out specific answers to your questions to see if this is a route of investing that is compatible with your goals.  We look forward to connecting with you in the near future!

@Austin Shade

Yes, we are a legit service.  I'm not sure what you mean by this, or what videos you are referring to by our team, or by any others.  We have hundreds of positive reviews from clients that have worked with us if you do some research on this site, and we've helped hundreds of investors build very successful rental portfolios for many years.  I've included some links for you below that show some of this discussion on the forums already that would be good to reach through.  @Joseph Schweizer can you provide some insight here.  

We do have FL new builds that are available, and probably one of the best TK investments for a newbie by going with a new build.  Whether or not going TK for your first property is completely a decision you need to make based on your investments goals, experience level, resources available, time you want to be involved, areas you want to invest in, etc.  

The most successful investors invest in the markets where they can get the best returns, and should be diversified across multiple markets. Regardless of where you invest it is essential that you have the right team to assist you in building a successful portfolio. It doesn't really matter if you start locally, or not. The main point is that you get started. If your local market is so expensive that it will take you years to save up for a downpayment then I would highly encourage you to look at a market you can invest in sooner. If it takes you multiple years to save up money to invest those are valuable years lost of cash flow, tax benefits/depreciation, appreciation & debt reduction by the tenant paying the loan down. It's also years lost of education, which is the most valuable resource to help you be successful long term. If you truly want to invest locally, but don't have the capital to then use real estate investing out of state to help you build equity over time & save up your cash flow to invest locally. Just my two cents on the matter. We look forward to connecting with you!

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/forums/92/topics/893621-rent-to-retirement-review?highlight_post=5222888&page=1#p5222888

https://www.biggerpockets.com/forums/311/topics/915728-experience-with-rent-to-retirement-turnkey?page=1#p5345200

https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences

https://www.biggerpockets.com/forums/12/topics/533693-anyone-worked-with-renttoretirement-turnkey

https://www.biggerpockets.com/forums/92/topics/581730-rent-to-retirement-zach

https://www.biggerpockets.com/forums/48/topics/874096-reviews-on-r2r-and-nch?page=1&utm_source=Iterable&utm_medium=email&utm_campaign=Transactional:%20topic_notification&utm_content=Transactional#p5123754

https://www.biggerpockets.com/forums/311/topics/883772-turnkey-investing-renttoretirement-feedback-reviews?highlight_post=5171720&page=1#p5171720

https://www.biggerpockets.com/users/ZacharyCole/references

@Dov Klitnick

The most successful investors invest in the markets where they can get the best returns, and should be diversified across multiple markets.  Regardless of where you invest it is essential that you have the right team to assist you in building a successful portfolio.  It doesn't really matter if you start locally, or not.  The main point is that you get started.  If your local market is so expensive that it will take you years to save up for a downpayment then I would highly encourage you to look at a market you can invest in sooner.  If it takes you multiple years to save up money to invest those are valuable years lost of cash flow, tax benefits/depreciation, appreciation & debt reduction by the tenant paying the loan down.  It's also years lost of education, which is the most valuable resource to help you be successful long term.  If you truly want to invest locally, but don't have the capital to then use real estate investing out of state to help you build equity over time & save up your cash flow to invest locally.  Just my two cents on the matter.  We look forward to connecting with you!

https://www.biggerpockets.com/users/ZacharyCole/references