We have been providing turn-key rental properties for 15 years. We are looking forward to many more years of providing turnkey management services.
We are headquartered in downtown Birmingham, AL. We purchase and manage properties in the Greater-Birmingham and Tuscaloosa areas, as well as Montgomery, Alabama’s state capital. We operate in North Alabama, Chattanooga, and North Georgia.
We do have out of state investors. In fact, 90% of our investors are out of state. We also have international investors. We currently have investors in 8 countries worldwide.
We help clients in a variety of ways: from acquiring properties, increasing their cash flow, saving money on taxes and protecting their assets.
Once you are pre-approved, we begin property selection.
As inventory becomes available online, you can work with our sales team and reserve a property online.
After your property is reserved, the contract is prepared for your signature and underwriting can begin.
When all parties are ready to close, our closing coordinator will work with you, your lender, appraiser, home inspector, and closing attorney to ensure this process goes as smoothly as possible.
The rehab process is very important to us. Our renovation philosophy is such that we believe in putting the majority of the cash dollars into the large CapEx items. The returns are best in older properties. We believe in putting long-term durable materials in the renovation. That includes new metal roofs that last 40+ years, new HVAC units that come with a 15-year manufacturer’s warranty, new water heaters that come with a 10-year manufacturer’s warranty, and we often replace the electrical service, as well. We also install granite counters and LVT flooring throughout. Our goal is to provide a property with high quality materials that will last a long time and that will defer maintenance for as long as possible for our investors.
Our neighborhoods typically have a household median income of $50,000, lower crime rates, and a school racking of 3+ using www.greatschools.org ratings.
We do allow lender financing for our properties. Many of our investors use the power of leverage to purchase multiple properties. Using leverage properties can be a great way to build a portfolio and to create passive income and wealth generation.
Our closing coordinator is vital to our investors' success. He is responsible for communication between the lender, appraiser, investor, closing attorney and home inspector. This position is solely here to make the contract closing process as easy as possible.
We have a full-time investor relations department that is dedicated to reaching out to investors once a month. This serves as a progress report and update on their property. Through the online portal, transparent reporting, and the monthly communication – we strive to over-communicate with our investors.
We do help our clients with asset protection. We have referral sources that we can send them to because the goal is to protect the asset once you’ve acquired it.
Yes, we own rental properties in the same neighborhoods that we are selling in. We believe that the neighborhoods in which we invest are the trusted, safe neighborhoods that we also put our investors in.
Our company does own the properties that we sell. There are other organizations out there that act as a marketer. We directly own the properties. We have an extensive line of credit. We hold the properties in house and we sell them as a private, direct sale to our investors.
We provide property management in-house. This is vital to the success of our investors' overall experience. Anytime you farm the property management piece out of the turn-key process, you really invite the risk of having a third party that is not as invested or as interested in the long-term performance of your property as opposed to someone that manages it in-house.
We charge a one month leasing fee for the initial two-year lease. Two-year leases assist with our average length of stay, which is 38 months. We charge a $500 renewal fee after the two-year lease. Our current renewal rate is 57%. We charge a 9% property management fee.
We pay our investors every month. We wait until the end of the month for owner drafts and reporting to allow all maintenance bills and/or fees to be collected and reflected in that month. We start the owner draws on the 20th of each month.
Out of over 2,000 properties that we manage, our eviction rate is around 3%. No investor likes evictions, nor do we. However, this is a risk of owning rental property. When it does happen, you need the right property management team in place to handle this process for you.
If we do not receive rent by the 10th of the month, we begin the eviction process.
Our average move-out cost right now is $2,500. Keep in mind, that doesn’t mean that you, as an investor, are going to have a $2,500 move-out. It may be a $200 move-out where they just need basic cleaning, or it could be a $4,000 move-out. This is the average.
If the deposit does not cover the damage, we will attempt to collect the balance in-house and if we’re unsuccessful, then we send it to a Collection Attorney.
We do charge a 10% late fee. This fee is split between the owner and the property management company.
The property management team does charge a pet fee. We charge one month’s rent, and this is non-refundable. This fee goes directly to the owner.
Every member of our leasing team is a licensed real estate agent.
Our average tenant’s annual income is $50,000.
We try our best to place a tenant in the property prior to closing. We know that this makes investors feel safe and everyone loves immediate cash flow. From new construction to tenant placement, it takes us on average 30 days. We realize the importance of getting the property occupied, and it is preferred by our investors.
The rent range is determined by a variety of factors. We evaluate the local school ratings, crime rates, area demographics, characteristics of the individual property, etc. Depending on the market and property, this can range from $1,000 to $2,500 per month.
We take the tenant screening process very seriously. We have a strict process on screening and run a 50% rejection rate. Our goal is not to place a tenant – it is to place the right tenant. We require a credit score of 550 or higher, three times the monthly rent in income, and no evictions or convictions on their rental history.
No, we do not offer a rental guarantee. We do realize this is offered by other turn-key providers and this might provide a false sense of security for your long-term investment. We know we have the right team in place to occupy your property. The property management agreement is for the long haul and would not want to cover tenancy issues with a guarantee for the first year.
We provide property management in-house. This is vital to the success of our investors' overall experience. Anytime you farm the property management piece out of the turn-key process, you really invite the risk of having a third party that is not as invested or as interested in the long-term performance of your property as opposed to someone that manages it in-house.
We charge a one month leasing fee for the initial two-year lease. Two-year leases assist with our average length of stay, which is 38 months. We charge a $500 renewal fee after the two-year lease. Our current renewal rate is 57%. We charge a 9% property management fee.
We recommend that you plan for about 5% annually in standard maintenance costs.
We require all tenants to have a $100,000 policy in Tenant Liability Insurance Coverage to protect your investments. This is a $15 in-house offering that tenants pay each month or they are free to get their own policy.
This protects the investor from tenant-related damage, made up of the 5 main perils: fire, smoke, explosion, water damage or backup of sewer drain or sump.
We also provide annual property and HVAC inspections.
Our average move-out cost right now is $2,500. Keep in mind, that doesn’t mean that you, as an investor, are going to have a $2,500 move-out. It may be a $200 move-out where they just need basic cleaning, or it could be a $4,000 move-out. This is the average.
If the deposit does not cover the damage, we will attempt to collect the balance in-house and if we’re unsuccessful, then we send it to a Collection Attorney.