Turn Key Rental Market Selection with Zach Lemaster
Guest: Zach Lemaster is the founder & CEO of Rent To Retirement, a turn key rental company focusing on new construction single family & small multi family rental property. Starting his investment journey while serving as an Optometrist and Captain in the US Air Force, Zach strategically grew his portfolio to allow for early retirement from his medical career.
Big Idea: Buying rentals can set you up for a comfortable retirement or simply give you a larger pile of cash to reinvest later in your career. That said, selecting the RIGHT rentals in the RIGHT market can speed this process up while reducing the headaches and attention that come with a rental portfolio.
Dan: Yeah, for sure. It was very interesting. I saw the bookings come through. Turnkey rental property was a big topic a few years ago, so I’ve been in the business since 2006, and I remember those companies proliferating probably right as things started to come out of the great recession, there’s a lot of turnkey rental businesses in the Atlanta market. I knew of some in the Philadelphia market and I’ve seen some come and some go and I think some of them went, like in the Atlanta market, you could get houses for $25, $30, $35, $40,000. They were selling them for $75, $80, $90 while the prices ratcheted out that price point and then you couldn’t find the inventory. That became like a big issue for those companies, and they kind of wound them down. The investors were very happy because their investments went from a $100,000 deal to $250 and $300 without renovations or any other additional costs. So we’ve seen them come and go. You’ve been around for a while and you have an interesting model with the new construction. Do you want to kind of give the audience an overview of the business model here?
Zach: Yeah, I’d be happy to Dan, and thanks for starting there because I think turnkey in general, it’s a buzzword and like any business, but especially in real estate there are companies and different business models that work in certain market cycles and some that don’t work in other market cycles, as you just alluded to. It’s great. That’s the beautiful thing about investing in real estate. If you, I don’t want to say time the market, but if you invest over the long term, your properties should go up over time. It sounds like during that market cycle that you just mentioned in your history, there’s a lot of people that did really well. But turnkey investing, it’s a buzzword. There are a lot of people who may have had experiences with turnkey in the past or don’t really know what that means, or people saying turnkey could even be a broker saying, a house for sale is turnkey.
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Resources mentioned in this episode:
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https://AccessOffMarketDeals.com/podcast/
Zach Lemaster & I Discuss Turn Key Rentals:
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Buying Lower Maintenance Property
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Selecting the Best Markets for Growth
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Going Bigger – Scale with Simplicity
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5% Down Investor Loans
Relevant Episodes: (200+ Content Packed Interviews in Total)
- Jacksonville Florida Turn Key Rental Properties with Gregg Cohen
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- Turn Key & BRRR-Key Rentals with Ali Boone
- Engelo Rumora on Building a Multi-Million Dollar Turn Key Rental Business
- Mark Ainley on Pulling Back the Curtain of a High Volume Turn Key Rental Business
- Joe Mueller on REO Brokerage, Turn Key Rentals, & Buying Houses through Non-Performing Notes (NPN’s)
The transcript of this episode can be found here.
Transcripts of all episodes can be found here.
