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Memphis Turnkey Properties

Real Estate Agents, Property Management

About us

Additional contact names - Jeremy Veldman, Benolyn Craig. Additional E-mails - benolyn@gmail.com, jeremy@cashcowdeals.com. Additional phones - (662) 418-7511, (901) 240-8111.

Services we offer

Real estate & property management.

Reviews

3.02 Reviews
Number of StarsImage of DistributionNumber of Ratings
5
50%
4
0%
3
0%
2
0%
1
50%


Rating CategoryRating out of 5
quality
3.0
value
1.0
professionalism
3.0
responsiveness
3.0
punctuality
3.0
Showing 1-2 of 2 reviews

Dominic N.
05/2014
1.0
real estate agents
  + -1 more
I was approached by the Alex Craig, he is the owner of Memphis Turnkey Investments. Initially, he seemed nice & trustworthy, he even came to my hometown with his wife, as a condition for me to do business I have to know who that is. I would say initially he was not bad but that is the thing, what isn't good in the honeymoon stages? Overall, his business & his wife - owner of CB Properties in Memphis is the property management company. I see a huge conflict of interest & preferred not to do it that way but that was their hook, he sells the properties & puts his wife's business as the property manager. CB Properties has to be the WORSE property management company in the world! I have been doing rentals for 20-years and I know by experience. Thus, Alex Craig & his wife Benolyn craig was so bad that I continually lost money, they always put in bad tenants & I had so many things stolen like A/C units, vandalisms, I had so many evictions & lawyers involved that this entire situation was a MESS! All they want to do is collect the rent, the placement fee of 100% of first months rent & they also get a 10% fee on top of all all maintenance so they loved sending people out to fixed things. I had peopled placed and stopped paying rent right away & took me $$$$ to evict them, they don't care, it doesn't affect them. I also hired them to do a remodel project & the first month people move in, people say things were broken & not fixed,, again, this place is NOT NOT TRUSTWORTHY AT ALL! I am thankful for the internet & Angie's list so honest business people can post honest reviews. Don't believe anything they say because they will try to cover themselves like say I did a BBB complaint, Consumer Affairs, yes all true. But government agencies don't get results so I am thankful for the internet & Angie's list as we can post our experiences. BEWARE & AVOID Memphis Turnkey Properties & CB Properties (Alex Craig & Benolyn Craig), bad businesses!!!!
Description of Work: They were real estate professionals that looks for investment properties for investors that could be out-of-state or international. They are located in Memphis, TN. They also have a property management arm.

Rating CategoryRating out of 5
quality
1.0
value
1.0
professionalism
1.0
responsiveness
1.0
punctuality
1.0


Response from Memphis Turnkey Properties
To preface this, I would like say in advance that I know this is a very long response, but the inaccuracies are amazing in [Member name removed]’s review. This is the only negative review versus several positive reviews, but the negative reviews seem to always stick out, so I feel it is necessary to follow up and provide facts backed up with emails, pictures, sales transaction detail, etc. I asked that you ready my response (and I know its long) in full and review the facts. I think you will find the facts are on my side. I am writing this review as follow up to [Member name removed] as he continues to slander myself and my companies on line. The bottom line is [Member name removed] is very bitter that we had to sue him in Shelby County General Sessions Court due to his failure to pay for services of a very specific scope of work. But before I get into all of that, this review will provide links to documents to back up what I have laid out in this review and show a pattern that we are very aware of, and that is dishonesty by [Member name removed]. In his review, his first inaccuracy is stating that we had to fly to see him before he would do business with us. Contained within my link at the end of this review, you will see a chain of title of 3 properties we sold him in late 2010. We visited [Member name removed] in Seattle in February 2011. You will see our plane ticket to Seattle and an email between my partner at the time discussing meeting [Member name removed] during the dates reflected in our plane ticket. The entire time we did business with [Member name removed] and during our lawsuit against him, this type of inaccuracies were common; the judge agreed with us. [Member name removed] goes into saying "Overall, his business & his wife - owner of CB Properties in Memphis is the property management company. I see a huge conflict of interest & preferred not to do it that way but that was their hook." This is an inaccurate statement; anyone is free to choose their manager. We never made him go with us as a property manager. We placed tenants for him in his houses; there were some good ones, but also there were a couple of bad ones. We did our screening process and placed tenants based on our posted requirements, which are generally accepted by all property managers in Memphis, TN. When a tenant moves out, whether it be for eviction, early move out or lease is up, there is a lease up fee b/c of leasing agents involved in the process. I can't guarantee the tenant b/c life happens to people; they lose jobs (especially during the time in which he bought), they get sick, they die, they get divorced. What we will guarantee is that we will place tenants based on the screening requirements we put in place which are consistent with what every PM company does in Memphis. It is worth noting that one of his tenants in a "C" class area was wanting to resign a year lease if [Member name removed] would replace the carpet, which would have cost about $800. We advised him to do so as the tenant was fantastic, but [Member name removed]'s problem is that he always thought he knew more about the business than we did. He refused, the guy move out and the house did get vandalized. This is part of the risk of C class and the model of success in that space is get a good tenant in the house (which we placed), service the tenant and keep in there. We did our part, [Member name removed] did not. It is worth noting, we are no longer in C class, our mode know if focusing on Better Properties in Better Areas will be Better Investments. It is also worth noting when [Member name removed] bought properties, we were still in a recession and 2010 and 2011 were tough years for a lot of local landlords. Within my link below, you will see a listing where [Member name removed] tried to sell one of his homes in 2014; while the picture quality is not great, you will see the house boarded up. It looks like his next property manager had difficulty working with him too and [Member name removed] has still probably not learned the key to success in this business is taking care of his tenants so that they will stay instead of being a cheap landlord. This is shown in the last screen shot on the link at the bottom of this message. As for him saying we are the worst property manager, I would say we have an A+ rating with the BBB, outstanding online reviews (which is rare in PM) and that we have only lost 4 properties over the past 2 years and added 120. That is rare in the PM world. We are also the preferred Memphis Property Manager for a well-known nationwide networking group. [Member name removed] was his own worst enemy with the way he operated his properties. To say we do not care is far from the truth. I am willing to give you a list of our investors who will say I go out of my way to help them out. PM is a tough business, one of which keeps me up at night. A classic example of [Member name removed] being his worst own enemy and what started our lawsuit against him is the 3986 Oakcliff property. The property went vacant and we quoted him something like $1,800 (and that is off the top of my head and being that it was 3 or 4 years ago, that # may be off a little). He told us he could fly his own people from Seattle to get it done cheaper. [Member name removed] hired his own crew and managed them remotely from Seattle, which is fine with us. Our investors are free to do anything they wish with their properties. After about 2 weeks, we get a message from [Member name removed] stating the work is done. The video link below shows that not only was the work not done, that they actually damaged the property. [hyperlink removed] The property was in such bad shape, that it cost us 2x the amount just to make it rent ready. The rent ready list was very detailed and was almost all cosmetic just to make it look good and showable. When the work was done, [Member name removed] would not pay us. Then his tenant moved in and there were minor plumbing issues and a couple other technical type things, to which was certainly not on the scope of work. Our goal was to undo what his contractor did and make the house look good, again, all cosmetic. When [Member name removed] did not pay, we had to sue him and that link is below showing we won our judgement. Dominic is right, he did go to the BBB and TN Consumer Affairs; none of those watchdog agencies sided with him. The reason was simple, he was wrong. When his day in court came, he did not win there either. It is apparent that when 2 consumer agencies did not side with him and then the final straw, the Shelby County General Sessions Court, it is obvious that he was wrong. Even when we won the case, you will notice in the link below that it had to come down to a Sheriff Sale of his properties before he would finally pay us. His Facebook page would show his lavish lifestyle including buying a Bentley, but when it came down to taking care of his properties, he would not pay. Other points of interest in the link below. Notice [Member name removed] thanking me for making him 20k in one month. This was due to me buying a home at $32,000, selling to him at $49,000. Within that margin was buying, fixing up and making a $5,000 profit. His tenant was awesome and the market had come up a little, so I helped him sell it for $62,000 a year later. You will see this on the first screen shot on my link. I did this with a couple of properties for him, thus why he thanked me for making him $20,000. I can tell you and you can look at the #'s on the transaction details, I did not make $20k. That is me taking care of our clients. So the bottom line and the proof is below. We had to sue [Member name removed] for not paying for services done for him and that court document is attached. While he acknowledges I made him 20k in one month, he is obviously bitter about getting sued. I never want to sue anyone, but with [Member name removed] it was necessary. Again, it is very important to note that he went to the BBB, TN Consumer Affairs, both of which sided with us. Then then lastly the court of law sided with us. Not 1 individual or entity sided with [Member name removed],that should tell you something. [Member name removed] even says, "Don't believe anything they say because they will try to cover themselves like say I did a BBB complaint, Consumer Affairs, yes all true. But government agencies don't get results so I am thankful for the internet & Angie's list as we can post our experiences." First of all BBB is not a government agency and there are several companies in my industry with poor ratings. What I find humorous is that he does not credit these agencies to do what they were created for, yet he is thankful for the internet & Angie's list so that he can post his experiences. In other words, he must go to sites that are not monitored or give companies a chance to defend themselves with facts. Those agencies are a must to combat against websites that only tell one side of the story. I would warn anyone from doing business with [Member name removed], he comes off nice at first, but at the end of the day is very unethical, especially in real estate, he would rather be a slum lord. If he owes you money, no matter how much money you made him (citing again, I made him 20k in one month), he will not want to pay. Lawsuit against [Member name removed] Link: [hyperlink removed] Back up items to show [Member name removed] statements that were not true and [Member name removed] discussing me making him 20k in one month. [hyperlink removed]

Laura B.
12/2012
5.0
real estate agents
  + -1 more
They were patient with me and helped me get through the process.
Description of Work: They made a commission of this purchase. They helped me acquire an investment property.

Rating CategoryRating out of 5
quality
5.0
professionalism
5.0
responsiveness
5.0
punctuality
5.0

Yes, I recommend this pro

    Contact information

    5545 Murray Rd Ste 225, Memphis, TN 38119

    www.memphisturnkey.com

    Licensing

    State Contractor License Requirements

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    Service Categories

    Real Estate Agents,
    Property Management

    FAQ

    Memphis Turnkey Properties is currently rated 3 overall out of 5.
    No, Memphis Turnkey Properties does not offer free project estimates.
    No, Memphis Turnkey Properties does not offer eco-friendly accreditations.
    No, Memphis Turnkey Properties does not offer a senior discount.
    No, Memphis Turnkey Properties does not offer emergency services.
    No, Memphis Turnkey Properties does not offer warranties.
    Memphis Turnkey Properties offers the following services: Real estate & property management.

    Contact information

    5545 Murray Rd Ste 225, Memphis, TN 38119

    www.memphisturnkey.com