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GM Factory ZERO In Detroit Set To Begin Operations

As you know, climate change has become a topic of importance for many companies, including automotive giant GM. Currently, they are demonstrating their commitment to transition output from gas-powered vehicles to electric-powered vehicles. They recently made an exciting announcement that its Factory ZERO in Detroit, Michigan will soon begin operations.  This is yet more proof that Detroit is shaping up to be the next great place to invest in real estate turnkey properties.  With Factory ZERO in full swing soon, thousands of new jobs will be available to Detroit residents, making this a city with abundant employment opportunities for your turnkey rental property tenants.

 

Thousands of New Jobs

 

With a grand opening planned for November, GM is expecting to employ as many as 2,200 workers at its Factory ZERO in Detroit, Michigan. This is significant, since the plant had only half as many workers as recently as 18 months ago when GM closed the plant so that it could be retooled to produce electric vehicles.

 

On Target with Its Promises

 

According to GM CEO Mary Barra, opening the Factory ZERO plant in Detroit proves that the company is on target to deliver on its promise to begin production of as many as 30 new electric vehicles by 2025. Though the automotive industry is currently dealing with a shortage of computer chips that have hindered production worldwide, Barra nevertheless expects 2022, and especially 2023, to be big years at Factory ZERO.

 

Electric Hummers

 

At Factory ZERO, the 2022 GMC Hummer EV Pickup will begin production this fall, making it the first of the 30 types of electric vehicles GM expects to begin producing in the coming years.  Actually, considering the Detroit plant was initially on the list with four other plants in North America that were scheduled to be permanently closed, it is considered a major breakthrough for GM and its workers that the plant has come back to life as what is expected to be a major EV plant in the United States.

 

Labor Negotiations Made it Happen

 

Along with a changing automotive market in the U.S. and around the world, many industry experts credit the 2019 labor negotiations between GM and the UAW as the catalyst that made Factory ZERO possible.  As the labor negotiations progressed during the 40-day strike by auto workers, a deal was reached that had GM commit more than $2.2 billion to reconfigure the plant for electric vehicle production.

 

Pre-Production Already Underway

 

While its official grand opening isn’t until November, the Detroit Factory ZERO plant is already getting a head start on things by building pre-production Hummer pickups. This is crucial, since GM already has pre-orders for more than 10,000 EV Hummer pickups, which will have a price of slightly more than $112,000.  As the plant gets up and running over the next few months, additional models of pickup trucks will become available to consumers at prices closer to $80,000.  

 

Calling Back Workers

 

With Factory ZERO getting its production facilities up and running, GM is now in the process of calling back hourly workers who were previously employed at the Detroit plant.  Along with this, the company expects to start hiring new workers early next year so that Factory ZERO can begin maximizing its production capabilities as soon as possible to satisfy customer demand for its electric vehicles.

 

More than Hummers

 

While the 2022 GMC Hummer EV Pickup will be the first vehicle produced at Factory ZERO, many other GM models will soon be produced there as well. In fact, Factory ZERO will also be responsible for producing the GMC Hummer EV SUV, Silverado E, and the Cruise Origin.  

 

Investments in Training

 

Along with spending well over $2 billion to retool Factory ZERO to produce electric vehicles, GM has also committed to spending millions more to give its workers state-of-the-art training in how to build electric vehicles.  Through its creation of the GM Automotive Manufacturing Electrical College, Factory ZERO workers will receive the very latest training in digital technology, software, and other aspects involved in producing these highly complex vehicles.

 

Largest Investment in Company History

 

To put into perspective just how committed GM is to its Factory ZERO plant in Detroit, consider that the $2.2 billion investment it has made in retooling the plant for EV production is the single largest investment GM has made in any of its plants during its history.  

 

Demonstrating its Commitment to the Environment

 

To further showcase how committed GM is to helping protect the planet and its resources, it used many innovative sustainability techniques during the plant’s retooling process.  For example, concrete waste from the plant was repurposed so that it could be used to help create temporary roadways.  Along with this, recycled stormwater was used to reduce discharge costs, with treated stormwater being used in the plant’s fire suppression system and cooling towers.  Finally, the plant features a nearly 17-acre wildlife habitat that allows foxes, turkeys, and monarch butterflies as well as many other animals to call the area home.

 

As anticipation grows for the Factory ZERO grand opening in November, Detroit residents are looking forward to getting back to work at an automotive plant that is poised to shape the future in so many positive ways. This is a great time to invest in Detroit with MartelTurnkey. Take a moment now to browse our available properties, download the financials and let us know when you’re ready to take the next step.

 

 

Customer Testimonial:

 

“Antoine and Angelica made the buying process easy, even in the midst of the pandemic. Whether I had questions about renovation progress, insurance, or mortgage rates, they were both on hand to guide me. I always felt that they were giving me the same recommendations they’d give their family and friends. That’s ultimately why I’ve bought multiple properties from MartelTurnkey.”

 

~ Joe, Los Angeles, CA

 

 

 

 

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Why Not Search For Turnkey Rentals Near Me?

If you’re fairly new to investing in real estate, you may also be less familiar with turnkey rentals. Investment rentals are certainly very popular, especially now with the economy the way it is. No doubt, many of your investor acquaintances are touting the benefits of owning property, and having rental income as a way to survive and thrive through these financial times. But all rental properties are not the same. There are all kinds of ways to be a landlord; being a turnkey rental landlord is just one of them. It also happens to be the truest form of passive income in real estate investing. 

 

What Are Turnkey Rentals?

 

Turnkey rentals are a special kind of rental property. Rather than the owner—the investor—taking an active role in caring for the tenant and property, everything is done “turnkey.” Turnkey is a business term that implies that the owner holds the keys and opens for business right away. Everything is done for them. It’s ready to go and profits start coming in right away. Examples of brick and mortar businesses that are considered turnkey include storage facilities and laundromats. Any business where the new owner can basically take possession and start operations is considered turnkey.

 

Turnkey rentals are similar, in that the new owner/landlord takes ownership and immediately begins reaping the profits from the rental income. The concept behind turnkey rentals is that the property is already in great condition, and ready to receive a new tenant or already has a paying tenant. But the best part about MartelTurnkey turnkey rentals is that the day-to-day operations are taken care of by a property management company. This is just one reason why so many savvy real estate investors choose MartelTurnkey for their real estate investment needs. 

 

Why Not Search For Turnkey Rentals Near Me?

 

Another feature that’s special about MartelTurnkey turnkey rentals is that we only sell properties in certain markets. This is because only some markets offer the return on investment that we are committed to offering our clients. In today’s real estate market, many areas are simply so overpriced that it’s impossible for an investor to realize any kind of profit from a rental property. So what we’ve done is assessed hundreds of markets around the country in terms of profitability, and invested our own time and money into key properties. Then we fully renovate those properties, get a vetted property management company in place to take care of the day-to-day tasks, and finally, we place a quality, paying tenant in the property. When one of our clients purchases a turnkey rental property from us, it truly is turnkey. They take ownership and immediately begin making passive income, month after month.

 

So the reason why it doesn’t make sense to just do a search for “turnkey rentals near me” is because a), it’s highly unlikely you’ll find something affordable and profitable in the area where you live b), without a property management company in place, you won’t have passive income; you’ll have a second job and c), any affordable rental property you do find will likely need all kinds of work done before it would even be inhabitable by a tenant. In this economic climate, it simply makes sense to invest where you will get a good return on investment, have the rehab taken care of by MartelTurnkey and have the day-to-day taken care of by your property management company. When you do all this, you’ll get a quality, affordable rental property that will give you monthly passive income for the rest of your life – all without you doing a second’s worth of maintenance or repair. 

 

If that sounds good to you, go ahead and browse our available turnkey rentals. When you find one that you like, download the financials and see if they meet your expectations. Finally, contact us to get the ball rolling. Now that’s truly turnkey investing. That’s what we do.

 

 

 

Customer Testimonial:

 

“It was truly a pleasure partnering with MartelTurnkey on the purchase of two rental properties in Memphis. These were our first out of state rental properties for my partner and I. Although we’ve never visited Memphis, Antoine ensured that we were connected in every stage of the process.”

~ Sabrina & Lashawn, Plainfield, NJ

 

 

 

 

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11 Awesome Real Estate Investing Podcasts

As a real estate investor, you are always searching for that next great property. But along the way, you also need to find out the little-known facts that separate the winners from the losers in the real estate game. To do so, more and more savvy investors are turning to podcasts.  Filled with useful information that is always presented in an interesting and fun manner, podcasts are great to listen to while driving around the city, working out at the gym, or other times as well. If you’re ready to get good information that will take your real estate investing to the next level, here are eleven awesome real estate investing podcasts you need to be tuning into on a regular basis.

 

1. Break Away From the Rat Race

 

This podcast by our own Eric Martel comes from the perspective of someone who has actually done what he’s suggesting others do. Unlike some other “gurus” out there, Eric Martel has personal experience and is a true expert. Not only does Eric interview other experts, though. His background as an actuary also gives him unique insight and expertise on the subject of financial freedom. In this podcast, learn everything from how to leverage your IRA to invest in real estate to house hacking as a path to wealth. 

 

2. Bigger Pockets

 

A podcast featuring off-the-cuff interviews with investors, hosts Josh Dorkin and Brandon Turner talk to investors of various backgrounds to find out not only about their strategies, but also about their successes and failures. With each episode, you’ll likely come away with a strategy you’ll want to try.

 

3. Real Estate Rockstars

 

With a name like this, you’re sure to tune in now and then. Hosted by Pat Hiban, this podcast focuses on the tricks and tips its guests have used over the years to build their real estate wealth.  Once you start listening, expect to hear a variety of strategies as to how to invest in various types of properties and much more.

 

4. Cashflow Diary

 

One of the more unique podcasts, Cashflow Diary was created by J. Massey and has been a great way to get his real estate knowledge to the masses. When you listen, you’ll hear episodes focusing on buying and selling properties, closing deals, making your offers, and other important topics. If you like what you hear, Massey is also a sales coach and instructor who offers free training courses to investors who are both new to the game or quite experienced.

 

5. Agent Caffeine

 

If you are passionate about becoming the best real estate investor in the world today, listen to the Agent Caffeine podcast. Host Kelly Mitchell spends many episodes discussing current and future trends within real estate investing, and also offers unique insight into how the latest technology can be used by investors to build their portfolios. Best of all, this podcast provides tons of inspirational advice that will help you not lose sight of the big picture as you continue your real estate investment journey.

 

6. Motley Fool Money Show

 

Fast-paced and irreverent, the Motley Fool Money Show podcast gives you not only plenty of great financial information as it relates to real estate, but also provides insight on how psychology plays such a crucial role in whether or not a real estate deal is successful. 

 

7. Smart Passive Income

 

If you are a new real estate investor, make it a point to listen to the Smart Passive Income podcast. A no-nonsense guide to real estate investing, its goal is to show you how to build real estate wealth without having to work 40 or more hours per week in the process. Hosted by well-known entrepreneur Pat Flynn, you’ll come away from this podcast knowing you got some of the best advice available today.

 

8. Real Estate Today Radio

 

This podcast, founded by the National Association of Realtors, discusses the latest real estate trends in ways that are easy to understand for the average real estate investor. If you are a beginning real estate investor who is eager to learn the basics so that you can minimize your mistakes early on, this is the podcast you should listen to each time host Stephen Gasque goes on the air.

 

9. Duct Tape Marketing

 

If you are an investor who loves to think outside the box and use unique strategies to build your portfolio, listen to each and every episode of Duct Tape Marketing. Hosted by experienced businessman John Jantsch, you’ll hear compelling interviews with authors, investors, and others who share the tips and tactics they’ve used over the years to achieve investment success. Should you be wanting to develop new marketing strategies and generate more leads, you’ve come to the right place.

 

10. Jared James Today

 

Considered perhaps the most energetic and engaging real estate podcast out there today, Jared James Today will give you lots of practical tips you can start implementing in your investment strategy the very next day. James, who is well-known for his fantastic YouTube training videos and energetic speaking engagements, has put together a podcast you won’t want to miss.

 

11. The Investor’s Podcast

 

Finally, there is The Investor’s Podcast. The most downloaded investing podcast, it is aimed at real estate investors who are serious about making money and learning all they can about the latest financial news in the U.S. and around the world. An excellent podcast for new and experienced investors, you can also learn about the various habits and traits of the world’s most successful investors. Before you know it, you may be taking the strategies you learn from this podcast and placing yourself among the world’s best quicker than you ever imagined.

 

 

Whether you find one of these podcasts you’re loyal to or decide to jump around and listen to numerous ones now and then, you’re sure to come away as a much smarter real estate investor. From Jared James to the Motley Fools and more, you can’t go wrong with these eleven great real estate podcasts.

 

 

 

 

 

Client Testimonial:

 

“MartelTurnkey’s end-to-end turnkey service was exactly what I needed to take my first step into the out-of-state real estate investing world. Antoine and his team are communicative, reliable, and trustworthy and guided me through each stage of the purchasing process. MartelTurnkey gave me confidence to buy out-of-state real estate and made my first rental property purchase easy and stress-free. I recommend MartelTurnkey to anyone, especially new investors, looking to purchase out-of-state turnkey rental properties.”

 

~ Luca, San Mateo, CA

 

 

 

 

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Detroit is on Fire!

While some cities may have struggling real estate markets at the moment, Detroit is not one of them. In fact, the Motor City’s real estate market is thriving, especially for investors like you. As more apartment dwellers seek to move into homes, most are choosing to rent rather than buy. With property values on the increase, now is the time for you to go all-in and expand your portfolio with turnkey rentals in Detroit, Michigan.

 

The Millennials Have Arrived

 

In Detroit, population growth has been triggered by the arrival of millennials, many of whom are beginning new careers and seeking quality rental housing they can settle into for several years. The most populous city in Michigan, Detroit has the second-highest growth in population for people ages 24-35 when compared to similar U.S. cities, meaning you’ll have a built-in market of people eager to sign leases on  your turnkey single-family properties.

 

A Growing Job Market

 

As we’ve explained in previous posts, one indicator of a strong investment market is good employment opportunities. People tend to want to live where the highest-paying jobs are located, and Detroit is no exception. The headquarters of eleven Fortune 500 companies, Detroit finds itself leading the way in technological innovation and productivity. Though known primarily as an auto industry city, it also has thriving industries in healthcare, defense, information technology and logistics.This means that even more people will soon be calling Detroit their new home and be in the market for housing.

 

Opportunity is Knocking

 

If you’ve been hearing a strange noise each time you start thinking about investing in the Detroit real estate market, that’s because you’re hearing opportunity knocking. According to most experts, the real estate market in Northern Michigan is hotter than ever. Ironically, this is partially due to many people lacking the credit needed to buy a home at today’s prices. Because of this and other factors, more than 50% of Detroit households rent single-family homes rather than buy them.

 

Great Return on Your Investment

 

When you invest in a new piece of property, you want to know you’ll see a high return on your investment. In Detroit, that’s almost sure to happen. Based on data from Realtor.com, the value of Detroit homes increased by almost 32% since just last year, and over the past five years home values have increased by well over 100%, demonstrating the strength and stability of the city’s real estate market as it pertains to investors.

 

Highly Popular Single-Family Rentals

 

When you put together the words “skyrocketing” and “single-family rentals,” you know you’ve got a recipe for real estate investment success in Detroit. As stated earlier, many Detroit apartment dwellers are now seeking single-family home rentals. In addition, people ages 24-35 make up almost 40% of the city’s population. This results in a nice combination of high quality tenants that are looking for the exact kinds of turnkey rentals that we offer at MartelTurnkey. As for how much rent people are paying, it varies depending on different neighborhoods. For example, properties in more affordable neighborhoods such as St. Jean and Chene are currently renting for $600-$650 per month, while houses in expensive areas such as Macomb and Downtown Detroit can fetch upwards of $3,000 per month or perhaps more. 

 

Economic Forecasts Predict a Bright Future

 

As economic forecasters have looked at Detroit’s real estate market over the past year, they have noticed two things that show the market won’t slow down anytime soon. First, the city has undergone a historic change in home prices, resulting in increased value appreciation. Second, its housing affordability levels are still very reasonable, meaning investors can not only reap good gains on return on investment, but can then offer rents that potential tenants will view as affordable. 

 

A Great Place to Live and Work

 

Finally, Detroit is consistently ranked as one of the best cities in the U.S. to live and work. Whether it’s Forbes calling the Motor City a great place for business and careers or U.S. News and World Report naming it a great place to live and retire, Detroit has pro sports, performing arts, and much more that continues to attract people to the city each and every year. As a turnkey real estate investor in Detroit, you’ll never be short of eager applicants hoping to become your tenants.

 

Don’t miss the boat on investing in Detroit. We currently have several turnkey rental properties available in Detroit and in surrounding bedroom communities. Check out our available turnkey rentals for sale and find one that interests you. Then, click on the “Download Financial” button so you can see exactly what you can get for your investment in Detroit. After that, contact us so we can get the ball rolling on your investment. We look forward to working with you!

 

 

 

Client Testimonial:

 

“What I liked about Martel Turnkey compared with other turnkey companies is that they rented the property out before selling it to me. They signed the lease and sent it over for me to review before closing. This is something that other turnkey operators haven’t done for me in the past.”

 

 

~ Steven, Long Beach, CA

 

 

 

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Ford Motor Co. Comes to Memphis Regional Megasite

Owners of turnkey rentals in Memphis will be happy to learn that speculative interest from Ford Motor Company in the Memphis area has become a reality. Headlines read, “Ford Motor Company to invest $5.6 billion in Memphis Regional Megasite, Create 5.8 thousand new jobs!” It’s true. The Megasite is going to be home to a Ford Assembly Plant, a battery manufacturing plant, and a supplier park, all atop a 3,600-acre campus called “Blue Oval City.” The project represents the largest investment ever made in Tennessee, all under the astute administration of Governor Bill Lee. For you as an investor, it represents one of the biggest employment opportunities yet for your present and future tenants, as well as proof positive that Memphis is economically thriving. 

 

Ford Motor Co. Parks Its EV Plant at Memphis Regional Megasite

 

Ford Motor Co. has committed to tenancy at the Memphis Regional Megasite in Hayward County. The automotive behemoth will rev up construction funded by $5.6 billion, which it is pouring into the project to fuel completion. The company projects the plant to be fully operational by 2025. A portion of the 3,600 acres will be occupied by BlueOvalSK battery plant, a joint-venture between Ford Co. and SK Innovation, a South Korean battery manufacturing company. The Ford assembly plant will manufacture Ford’s F-series all-electric trucks. This will establish Tennessee as “ground zero” for electric vehicle manufacturing, which, as you know, is where the automotive industry is headed. 

 

All told, nearly 6,000 new jobs will be created with this project, in all levels of experience and background. In addition, over 32,000 jobs are expected to be created to aid in the construction work. This alone could add up to about $1.87 billion in construction salaries. Furthermore, the Center for Economic Research, a TNECD division, predicts the project to contribute $3.5 billion annually to Tennessee’s gross state product.

 

How it Happened

 

Let’s back up a bit. Back in June of 2021, Governor Bill Lee of Tennessee took a risk. In his uniquely forward-thinking manner, Governor Lee appropriated millions of dollars to invest in wastewater discharge pipe infrastructure for the Memphis Regional Megasite. Basing his decision largely on the “if we build it, they will come” way of thinking, the Governor stated, “We want the Megasite to be the very first place companies will look when they start looking around the country.” What Lee knew was that weaknesses were exposed at the site from an independent study that the State of Tennessee had commissioned. As Lee put it, “The combination of information from that analysis, and frankly, the increased interest that we’ve had from companies across the country, really spurred us to make a decision to move forward. What we knew was true—the fact that the pipe was not laid—could be construed as a vulnerability for the site.” The Governor’s decision to get that issue resolved was–in all likelihood–singularly responsible for Ford Motor Company’s decision to commit to the site. 

 

Notably, the wastewater pipe construction isn’t even slated to begin until the first quarter of 2022. That’s okay, though, according to the latest news that Ford Motor Company is now a fully committed tenant. The state’s construction will happen in tandem with the car company’s own construction to get the site ready to roll into production by 2025. It’s massively impressive that the Governor of Tennessee’s word is good enough for a corporate giant like Ford. 

 

What the Locals Think

 

Local leaders are over the moon about the announcement. David Livingston, the mayor of Haywood County where the Megasite is situated, said he’s been smiling for a month now, and it will take another month to take the smile off of his face. Rightly so. Livingston noted, “It’ll be more than the jobs in just those plants too. There will be plenty of jobs that will come with it, because those plants will need materials and supplies,” Livingston said. “So we can expect those [jobs] to come into the surrounding areas and counties.” In case you don’t have a county map in front of you, that means Shelby County, where MartelTurnkey Memphis turnkey rentals are. In fact, the Memphis Regional Megasite is an easy 51-minute commute from central Memphis, a straight shot up 40 East.

 

U.S. Congressman David Kustoff said, “Today is a truly remarkable day for West Tennessee and the entire region. Ford’s investment in the Megasite will bring in thousands of jobs and will reshape West Tennessee’s economy for generations to come. I would like to thank Governor Bill Lee and his economic development team for their hard work in securing this investment. Ford’s commitment demonstrates its confidence in West Tennessee, Governor Bill Lee and his leadership, as well as the economic opportunity of the Memphis Regional Megasite.” Again, Governor Bill Lee is being called out for his stellar vision, trustworthiness and leadership abilities. 

 

Nearly 6,000 New Jobs Coming to Memphis Area

 

The Megasite is physically situated in Hayward County, but officials expect that the bulk of new jobs will be filled by residents of Memphis and Shelby County. “… it will change the landscape of West Tennessee from a jobs perspective,” said Mark Herbison, Senior Vice President of Economic Development at the Greater Memphis Chamber. “This Megasite is the magic bean of economic development.” 

 

Magic beans aside, any professional “bean counter” can see that this development is a game changer for Memphis and surrounding areas. If there was ever any doubt that you need to invest in Memphis starting right now, this news should cast away those doubts. Because where Ford Motor Company goes, other whales are sure to follow. This is very likely a giant leap toward a huge resurgence of manufacturing jobs for your tenants who live in turnkey rentals in Memphis. As Governor Lee said, “This will have a generational impact on people and families across our state, especially in West Tennessee.”

 

We have several turnkey rental properties available right now, in highly advantageous areas around the country. Start your real estate rentals portfolio today. Contact us to learn how.

 

 

Customer Testimonial:

 

“From the first time we spoke with Antoine, we were impressed by how knowledgeable he was. The market knowledge and plans he had for his company convinced us of his competence. We knew from the first conversation that we could become long-term partners. We have since bought many properties from MartelTurnkey and it has always been a great experience.”

 

~ Elena, Westchester County, NY

 

 

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What to Look For in Turnkey Property Renovations

When considering buying a turnkey rental, investors should carefully consider the kind and quality of the renovations. As we’ve discussed in previous blog posts, a turnkey property isn’t truly turnkey unless it’s already renovated when you purchase it. A new investor shouldn’t need to put money into renovations immediately after taking ownership. Whenever you’re looking at a turnkey rental property to buy, here’s what you should look for as far as renovations.

 

Quality of the Renovations

 

Unfortunately, it’s all too common for contractors to take shortcuts when it comes to construction. According to people like that, shortcuts help them to make more profit. But there’s a difference between being efficient and taking shortcuts. Efficiency is great. If a contractor can get work done faster or better by using a different method or new tools, that’s great. They make money and the investor saves money. But if a contractor is taking shortcuts that impact the quality of the work, that’s not good for anyone; the investor, the future tenants, or the contractor.

 

The quality of the renovation is as important as what renovations are done in an investment property. If the bathroom fixtures were replaced, that’s good. But if they were replaced with used parts or installed incorrectly, that spells trouble for the new owner – you. Seeing pictures of a newly-repaired front porch railing makes an investor feel good. But if the new railing hasn’t been properly installed, it poses a danger to future tenants and ultimately, the owner-investor. The point is that, as well as reviewing the list of renovations, it’s important to consider the turnkey company that’s handling the renovations. As always in business, know who you’re dealing with. At MartelTurnkey, we fully renovate our turnkey properties before selling them to investors. But that’s not all. We have boots on the ground overseeing renovations on all of our properties. We make regular visits to our properties in the development phase, in other states. We even have one of our own family members, Etienne, on-site in Memphis, overseeing renovations. And if you know Etienne, you know he won’t stand for anything less than perfection! 

 

What Renovations You Should Look For

 

The renovations that you should look for in a turnkey property are ones that add value, safety and aesthetic appeal. For example: 

 

 – Refinished floors

 – Replaced tile/vinyl

 – New carpeting

 – Basement waterproofing

 – Siding repair/replacement

 – Roofing repair/replacement

 – Fencing repair

 – Deck/porch railing repair/replacement

 – Fresh hardware

 – Fresh paint

 – Repaired/installed gutters

 – Replaced plumbing fixtures

 – Replaced lighting fixtures

 – Etc. 

 

As you can see, some of these renovations are for aesthetic purposes; i.e., paint, hardware. Others are important for the safety of your tenants and their families; i.e. railing repairs, etc. Finally, others are essential for the durability and integrity of the property itself; i.e., waterproofing, gutter repairs, etc. 

 

When looking for a turnkey rental property to buy, review the list of renovations. You should see a mix of all three categories of renovations. If you don’t, it’s possible you should look at a different turnkey property company. Because any turnkey rental property company should have all these things in mind; the safety of the tenants, the attractiveness of the property, and the value and integrity of the property.

 

Improvements That Are Less Important

 

Just as much as it makes sense to consider the type and quality of renovations on a turnkey property, you should also be aware of the types of improvements that are less important. The reason is that some turnkey companies do their best to sell properties that are in less than ideal condition by distracting potential buyers with “bling.” For instance, brightly painted shutters and potted geraniums on the front stoop will certainly add curb appeal. But surface embellishments don’t add value to the property. If the front lawn is lush and green but the hardwood floors in the living room are splintering, that’s a good sign that the seller is unwilling to do a quality renovation. When a turnkey property for sale has quality renovations, safety-minded renovations and aesthetic improvements, that’s a good sign that the seller actually cares about providing value to the investor. 

 

MartelTurnkey sells turnkey rental properties that we own ourselves. We analyze the value of the properties ourselves. We oversee the renovations ourselves. Any time you want to review the list of renovations on a property, you can click on that information on the property listing page on our website. We are personally vested in your success. We want to be your partner as you grow your real estate investment portfolio. Contact us today to get started!

 

 

Customer Testimonial:

 

“I highly recommend working with Antoine and Martel Turnkey. As a first time real-estate investor, Antoine gave me a great understanding of an industry I was unfamiliar with. Their properties are in great markets, fairly priced, and are truly turnkey. There were zero improvements I had to make on the property I bought from them in Memphis. If you are looking for a good investment opportunity, work with the MartelTurnkey team.”

 

~ Simon, Long Beach, CA

 

 

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5 Things Your Turnkey Property Management Company Does Behind the Scenes

model house

When you buy a turnkey rental from MartelTurnkey, you receive a rental property that already has turnkey property management in place. We believe that property management is an important component of the passive income experience. Without property management, a rental property owner must handle all of the management of the rental by themselves. This adds significantly to the workload, which is the opposite of passive income. Some turnkey companies try to give the impression that property management is a walk in the park, and you don’t need to hire someone else to do it. If you’ve ever doubted the benefit of having a property management company, consider all the things your property management company does behind the scenes.

 

What Your Turnkey Property Management Company Does For You

1.  Evaluates Fair Market Rents

 

The turnkey rental properties we sell have already been evaluated for fair market rents. You can view this when you look at the sales page or download financials on the MartelTurnkey website. As time goes on and leases are renewed, your property management company will re-evaluate fair market rents. This is to ensure that you are always receiving as much rental income as you reasonably can. 

 

Fair market rent is determined by a range of factors, including location, square footage, number of bedrooms and, most importantly, what area rentals are charging. The process for calculating fair market rent is complex and time-consuming, which is why this particular benefit of property management companies is so valuable to landlords interested in true passive income.

 

2.  Keeps a Physical Eye on the Property

 

If you’ve been reading any of our blog posts, you know that the best value for turnkey rentals often exist in cities outside your home state. As such, it would be impossible for you to drive by your property once in a while just to see that it’s being kept in a reasonable state of upkeep. This is something else that your turnkey property management company does for you. They’ll keep an eye on the property, noting any potential issues with the exterior of the turnkey, such as:

 

 – The fence is in need of repair

 – The eavestroughs need cleaning

– The yard needs trimming and mowing

 

If anything is noticed, the property management company can take action sooner rather than later, which protects your investment. Of course, you’ll never hear about these casual drive-bys unless something needs to be repaired or replaced that needs your permission. It’s all part of your turnkey property management company services.

 

3.  Screens Tenants

 

When rental demand is high, your turnkey property management company may receive a bounty of applications for your turnkey rental property. Applications must be reviewed, background checks performed, and follow up communication done in order to get the best tenant in to interview or sign the lease. The property management company also keeps records on tenants they denied in case they need to defend their decisions. So when you see that your turnkey property management company screens tenants, you should know that there is a lot of time-consuming behind-the-scenes work involved with that.  The PM team wants the best tenant for you and for them, so they do a thorough job. And you don’t have to do any of it!

 

4.  Handles Tenant Calls

 

You probably already know that your turnkey property management company manages tenant requests for maintenance through an online portal. But did you also know that they have to handle all tenant calls – including just plain nuisance calls that aren’t crucial? For instance, tenants call property management companies about things like:

 

  – I got locked out

 – There’s a spider in the bathtub

 – The living room window is rattling and I can’t sleep

 

Now, these are probably important issues from the tenants’ perspective, especially about being locked out. But these examples demonstrate that these are the kinds of calls that your turnkey property management company  is taking on your behalf at all hours of the night, while you’re fast asleep in the comfort of your own home far away. It all happens behind-the-scenes, and you’ll never hear about it, except to know that your turnkey property management company services include handling tenant communications.

 

5.  Cleans In Between Leases

 

Do you love cleaning? Do you love cleaning up after other people? How about washing down walls and repainting? These are the things that your turnkey property management company does behind-the-scenes that you probably don’t think about. Every time a tenant leaves, a major cleaning has to take place. Some tenants are cleaner than others, but there’s always going to be a thorough, time-consuming task ahead. Every mark on the wall has to be erased or painted over. Inside cabinetry has to be cleaned. Refrigerators have to be polished to a shiny gleam, all so that new prospective tenants will be impressed enough with your turnkey rental property to apply. So even though you probably know that your PM “readies the property” for new rentals, there’s a lot that goes on with the details that is less obvious. 

 

This is just the tip of the iceberg as far as what your turnkey property management company does for you. So please don’t fall for anyone trying to tell you that paying for turnkey property management services isn’t necessary. If you want a truly passive income experience, work with MartelTurnkey, where you get true passive income with every turnkey rental property you buy. Every house listed for sale on the website is occupied and professionally managed. Take a look at our latest inventory here.

 

 

 

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Why You Should Work With a Turnkey Provider

Of all the resources you have as a real estate investor, time is the most precious. The amount of time you have available can never be increased over 24 hours a day. You can never have more time than anyone else. If you’re like most people, and time is in short supply, then you know how hard it can be to invest in rental properties. Carrying on with a full-time job while trying to renovate and manage a rental property is challenging, to say the least. It’s also not the fastest way to build your real estate portfolio. Here’s why you should work with a turnkey provider:

 

All the Advantages in One Package

 

If your passive income strategy is to acquire turnkey rentals, then you should work with a turnkey rental provider who offers all the possible advantages. Turnkey means you shouldn’t have to be responsible for any of the actual work. It means you should be the owner and reap all the benefits with none of the responsibility. Here are the advantages of working with a true turnkey provider:

 

 – The market is analyzed for you.

 – The neighborhood is analyzed for you.

 – The property is fully renovated.

 – The property has a paying tenant.

 – The property has a property management company in place.

 – Financial reports are provided automatically.

 – Rents are deposited automatically.

 – Tenant communication is 100% handled by a property manager.

 – Owner never has to meet with the tenant.

 – Evictions are handled by the property management company.

 

Not Everyone is a True Turnkey Provider

 

Many companies call themselves turnkey providers, but they aren’t really because they don’t provide all the advantages. “False” turnkey companies include turnkey brokers, certain real estate investors and investment companies. Note that just because a company isn’t a true turnkey provider doesn’t necessarily mean that they are purposely trying to deceive people. It’s just that consumers aren’t always aware of the differences. There are ways that you can identify companies that aren’t true turnkey providers:

 

 – They don’t actually own any of the properties they are advertising

 – Properties are handed over without tenants in place

 – Properties are sold without building and occupancy permits

 – Properties are sold that need renovation in order to be inhabitable

 – Property management is non-existent

 

Again, if your goal is passive income, seek to work with a turnkey provider that is truly turnkey and offers all the possible advantages. If your goal is to take on a second job, then you can work with just about anyone who is selling properties that could conceivably be rented out.

 

Long-Term Relationships and Repeat Business Are Key

 

A quality turnkey provider like MartelTurnkey values long-term relationships and repeat business. This is only possible when the quality of the turnkey properties is high, when the promises of service are fulfilled, and when the customer service is exceptional and proven. When working with a turnkey provider, you want to choose a long-term business partner who will consistently have your financial benefit in mind with every transaction. This will help you to scale and build your real estate portfolio over the years. Quality turnkey providers strive to ensure success with every turnkey rental so that you will continue to work with them over and over again. And, when you work hand-in-hand with a turnkey provider, your job is easier because you can trust your investment partner. You don’t have to shop for a new provider every time you’re ready to buy a new turnkey rental. 

 

 

MartelTurnkey has a long history of providing all the advantages of a true turnkey rental company. We have a long list of satisfied clients, and a constantly evolving list of available turnkey rental properties for sale. To get started on your real estate portfolio, contact us today.

 

 

Client Testimonial:

 

“The MartelTurnkey family is the company I chose for rental properties. The process was so easy, seamless, with systems in place. Eric, Lynn, and Antoine have been most supportive in helping me to achieve an out-of-state investment acquisition. The home purchased was in great shape and was already leased for immediate cash flow. The experience was so good that I plan to work with the MartelTurnkey family for years to come.”

 

~Laura,  St. Louis, MO

 

 

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3 Things Smart Investors Have in Common

Being an investor is sort of a lonesome pursuit. You may feel like you’re in a bubble, separated from the rest of the crowd. This is especially true if you’re not going the traditional route and handing over your money—and control—to a money manager. There are plenty of articles about investing in stocks and bonds, but not much advice about how to be a smart investor in general. But you don’t have to feel alone. In fact, the smartest investors share commonalities that put them in a group all their own. Here are three things that smart investors all have in common. 

 

1. They Don’t Hide Their Money Under Their Mattress

 

Sure, it’s good to keep some cash available. You never know when a cash “emergency” will crop up. Your future all-star bats a home run out of the yard—and straight into the neighbor’s lamppost. Your daughter orders six large Domino’s pizzas for her sleepover, naturally assuming you have the cash to pay (and tip) at the door. Money’s money and cash is king, after all. But smart investors don’t keep more than necessary “under the mattress.” Mattress money isn’t working for you. Your money is simply snoozing beneath you while you slumber on top. 

Smart investors put their money to work for them. They either invest directly or use their cash as leverage to get more money (OPM) to work for them. And remember what we talked about in a previous post. Savvy investors manage to profit no matter what the economic conditions are. In the current market, turnkey rentals make more sense than trying to be a DIY hero. Labor and materials are not readily available, making turnkey rentals a smart real estate investment, now more than ever.

 

2. They Know Their Own Limitations

 

Smart investors share another quality that has more to do with self-awareness than money know-how. They know their own physical limitations. They recognize that they can’t be in two places at once; showing up to a full-time job and being on-site to rehab a property at the same time, for instance. In some cases, smart investors have to acknowledge that they aren’t as young as they used to be; that putting on a new roof on that fixer-upper is probably best left to the (younger) experts. Finally, smart investors know where their own mental or time limitations are. When a person is busy already, it’s often just not possible to get up to speed in a reasonable amount of time on every nuance of analyzing a market, finding a viable rehab project, gathering a team, managing a team, etc. And why would they? That’s the real joy of having money to invest in the first place; not having to do everything yourself, being able to spend your time doing things you enjoy, bonding with your family or just hiding out on the golf course all day. Smart investors know their own limitations and they seek help in the areas where they need it.

 

3. They Choose People, Not Companies

 

When it comes to doing business, smart investors look to the people behind the company. Given the recent spate of stories about nefarious behaviors of well-known individuals that have rocked the internet, that’s a good policy for everyone. You don’t want to be caught in the downward vortex when the ship sinks, right? Before investing, smart investors ask themselves: Is this individual trustworthy? Are their business practices transparent? Do the people behind this company hold values that align with my own? This is one reason why we have chosen to profile our core team members; basically our family, since we’re a family-owned and operated business. (Look for Lynn’s individual profile piece in an upcoming blog post!) We want you to know who you’d be partnering with. We want you to know who we are and what we stand for. 

 

At MartelTurnkey, we are fortunate to know a lot of very smart investors. Our investors understand the value we’ve added to our turnkey rental properties. They’ve gotten to know us as well as we’ve gotten to know them. Most of our investors have invested multiple times, because they found great value and they want to do business with people they trust. If you’d like to become an extended part of the Martel family by working with us, we’d be happy to have you on board. Just send us an email or fill out our contact form to start the ball rolling.

 

 

 

Customer Testimonial:

“It was truly a pleasure partnering with MartelTurnkey on the purchase of two rental properties in Memphis. These were our first out of state rental properties for my partner and I. Although we’ve never visited Memphis, Antoine ensured we were connected in every stage of the process.”

 

~Sabrina & Lashawn Plainfield, NJ

 

 

 

 

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Should You Do a BRRRR Right Now? Probably Not

When we wrote about the BRRRR strategy back in 2018, we covered the five top risks of this method. The post was surprisingly popular, and it still gets a tremendous number of hits on our website, even after all this time. For those of you who may not have heard of BRRRR, it stands for Buy, Rehab, Rent, Refinance, Repeat. It can be a very solid way to build wealth, given the right economic conditions. But with things the way they are in the world currently, it’s probably not a strategy you should be testing out right now.

 

Reviewing the Risks of BRRRR

 

We covered the five main risks of the BRRRR method three years ago, but they warrant repeating. Every risk is associated with mandatory steps in the BRRRR process, so there’s no getting around them. They are:

 

 – Renovation Time

 – Renovation Cost

 – Appraisal

 – Time to Fill Vacancies

 – Rent Amount

 

Now, some of these risks would be mitigated due to existing circumstances in the U.S. economy. Others are so prohibitive—and, frankly, scary–that we can’t recommend that inexperienced investors get into a BRRRR project right now. 

 

Renovation Time

 

Renovation time refers to the amount of time from when you take ownership, to when the place is ready to rent out. Unfortunately, unless you’re a Jack or Jill of all trades, you’re not going to be in control of the renovation time. (And even if you can wear every trade hat necessary to do a rehab, you still won’t be in charge of the time because of the next point. But we’ll get to that in a minute.) Basically, you’re going to be at the mercy of your contractor and their workers, meaning the construction crew, tradespeople, etc. Ordinarily, in the best of times, you virtually need a whip and some kind of leverage to get rehab work done on time. That’s just the way it is in the construction business. Contractors juggle a lot of jobs at one time and it’s rare that projects are completed on time.

 

Now, you throw in the fact that the government right now is essentially subsidizing unemployment with free money, and you’ve got a shortage of workers to deal with. You’ve seen it in your neighborhood, we’re sure. “For Help” signs are in every storefront window. If McDonalds is having trouble finding enough staff to fry patties, how are you going to find qualified and licensed workers for your BRRRR project? 

 

It all adds up to lengthy—and we do mean lengthy—periods of time waiting for your renovation to get done. Meanwhile, your money is tied up, your property is sitting empty (not bringing in rental income), and you’re making payments to your insurance company and your lender. 

 

Frankly, we at MartelTurnkey have been working with contractors and construction crew for years now, and even we’re experiencing challenges with renovation timetables, getting workers on site and sourcing construction materials. And we even have our own Etienne Martel on site in Memphis overseeing everything. Despite this, it’s been harder than ever to get our projects rehabbed and ready to rent, all because of the way the economy is currently operating.

 

No matter how industrious, energetic or determined you are, there’s no getting around the fact that turnkey rentals are your best real estate investment option at this time. Please think twice and then think again before attempting anything like a BRRRR right now. It could be years before you reap any gains from it. Meanwhile, you could be getting passive income for you and your family as soon as next month, when you buy a turnkey rental from MartelTurnkey. 

 

Renovation Cost

 

Renovation cost is the sum of all the costs associated with finishing your rehab. This includes labor, materials and permits. Costs of construction materials are very much tied to everything from natural disasters, political climates, levies, taxes and even building trends. But in all the years we’ve been doing turnkey rentals, we’ve never found it so hard to lay our hands on simple renovation supplies. We’re talking about a 4-6  week wait on a basic shower stall. It’s just mind-blowing. We even have contacts and regular suppliers that we’ve built relationships with, who are telling us their hands are tied because no shipments are coming in. This is what we meant when we said, even if you are a master plumber, good luck getting your materials for your BRRRR. It’s going to be a long, hard wait. 

 

Now, the other three risk factors will be mitigated since property values are up and rents are up. So you won’t have to worry too much about your appraisal coming in too low, filling the place with a tenant, being able to charge a high enough rent or getting refinanced. But if you make it to this stage, you must have so much luck on your side that we recommend you run out and buy a lottery ticket right now! Because it’s near impossible to find qualified workers and source materials. That’s why we can’t in good faith recommend that you do a BRRRR right now.

 

We’ve said it before and we’ll say it again. The best way for you to invest your money right now is in turnkey rentals. You get a fully rehabbed property, already rented out and pulling in passive income. What more could you ask for from a real estate investment? We’re MartelTurnkey and we have your turnkey rental opportunity ready to buy.

 

 

Customer Testimonial:

 

“I am very fortunate to have found you and your company. I really look forward to working with you more in the months and years to come! It’s very rare to find someone who is honest and sincere in their dealings with others. You truly treat your investors like family and likewise treat your properties like your own.”

 

~ Edna Los Angeles, CA