Mid South Turnkey Homes. Should I invest with this Memphis turnkey?

[Nida Kazmi]

Hi Guys,

I was connected to this company through Jason Hartman, and have spoken with them and trying to do my due diligence (also contacting local realtors and other similar companies including http://midsouthhomebuyers.com/

Just want to be sure that these guys are reputable. midsouthturnkey.com

Is it worth it to purchase and rehab homes in Memphis still? I am looking at 3/1 or 3/2 priced around $40-70k with rehab 35K with rents at $1100/average a month. I buy the home with agreement that they rehab it, and retain the extra 20% ARV after rehab

Please let me know if youre familiar with Kenny Shaw and MidSouth TurnKey

Thank you!

[Nicholas L.]

@Nida Kazmi

I don't know anything about these companies

But you won't "cashflow day 1" 

Maybe on paper - but not in the real world

Set expectations accordingly

[Jason Hartman]

@Nida Kazmi - The most accurate answer is... they're all good until they're not. All of the partners I've onboarded over decades start out great, only a small number will go the distance. Here's a POSSIBLE, or even common, view of how it goes: 

1) Launch: They gush about how appreciative they are that we revolutionized their business and life. Awesome gratitude - off to a good start! 

2) They get busy dealing with all the mundane day-to-day stresses and business responsibilities at which time quality, responsiveness and service may, or may not, suffer.

3) Sometimes... This is the kiss of death shows up. They become arrogant (opposite of gratitude) because business is great so they get greedy, and complacent, too.  One of my favorite quotes from Napoleon... "The most dangerous moment comes with victory."  

This is why clients need to stay in touch with us and monitor the tides in these human affairs. 

[Nida Kazmi]

Thanks @Jason Hartman ! 
I can certainly see those scenarios playing out as they have many times in my experience. 
As long the company is not a scam upfront, I am willing to play the game one by one property with them as they too scale and I can monitor progress. Will stay in touch.


Quote from @Jason Hartman:

@Nida Kazmi - The most accurate answer is... they're all good until they're not. All of the partners I've onboarded over decades start out great, only a small number will go the distance. Here's a POSSIBLE, or even common, view of how it goes: 

1) Launch: They gush about how appreciative they are that we revolutionized their business and life. Awesome gratitude - off to a good start! 

2) They get busy dealing with all the mundane day-to-day stresses and business responsibilities at which time quality, responsiveness and service may, or may not, suffer.

3) Sometimes... This is the kiss of death shows up. They become arrogant (opposite of gratitude) because business is great so they get greedy, and complacent, too.  One of my favorite quotes from Napoleon... "The most dangerous moment comes with victory."  

This is why clients need to stay in touch with us and monitor the tides in these human affairs. 

[Jason Hartman]

Sounds good 👍

[Chris Ross]

Hi Nida, Mid South Home Buyers is legit. I’ve purchased a property from them and visited their facility in Memphis.  They have great people, communicate well, and seem to do a good job on rehabs.  So far I’m happy with them.  There is a bit of a premium when buying turnkey homes but I would buy from them again in the future.  Although I will likely try finding a better price using a local realtor for my next property once I’m ready.  I’ve never heard of mid south turnkey though.  Good luck. 

[Mike Mosee]

Hi Nida

I am very spectacle that the purchase prices you mention are anywhere but war zones.

Most worth considering will start at $100K with rehab necessary.

Please beware

Best Mike