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Open Door Capital: Verified Investor Reviews on Invest Clearly

4.60

(43 reviews)

Sponsor

Claimed Profile

Actively Raising

Open Door Capital Website

Open Door Capital

Open Door Capital Overview

Open Door Capital is a privately held real estate investment firm founded by Brandon Turner that specializes in mobile home parks, self-storage facilities and multifamily. Open Door Capital has nearly $1 billion in assets under management (AUM), a portfolio of more than 13,000 units, and has partnered with more than 2,000 investors. Visit odcfund.com/our-offerings to view current opportunities.

Address

Kiehi,

Hawaii

96753

Year Founded

2017

Operates In

Virginia

Florida

Georgia

Mississippi

Texas

Asset Classes

Multifamily

Storage

Mobile Home Parks

Accepted Investors

Accredited

Matheson Capital

5.00

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5.00

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5.00

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5.00

Open Door Capital Details

Assets Under Management$982M

Average IRR35.00%

Average Equity Multiple1.7x

Open Door Capital Deals
2

Open Door Capital Reviews
43

highlighted review

Verified Investor

8/1/2024

1.00

"Inexperienced operators failed expectations"

They have over promised and under performed on every single metric. They promised 7-9% annual returns. We barely received 2% for 1 year and then distributions were paused. Now I'm just hoping we will get our capital back eventually without a capital call as some of their other funds have needed. I was sold on the whole Brandon Turner marketing machine and should have invested with a more experienced operator. I don't know how they have 5 stars on this platform when every investor that I know that has invested with them has been disappointed. Nothing besides the first fund is performing to projections and this is because the first fund was during the best time to invest when anyone could make money because of the rapid inflation that took place in 2021. Investors beware.

Open Door Capital

Sponsor Response

4.60

Thank you for sharing your feedback. We’re happy we were able to connect recently to talk through your concerns. We aim to provide clear and transparent information from the start, but we understand that there can sometimes be misunderstandings. As discussed, investment returns are never guaranteed. They are based on projections outlined in our offering documents. The 7-9% range refers to the average cash-on-cash return over the full investment period, rather than each year individually. Early returns can be lower as the investment ramps up. While the path to our projections isn’t always linear, we’re still currently on track to meet our overall target for this fund. Pausing distributions was a difficult decision, and we understand the concern it can cause. Distributions were paused out of caution due to the current macro environment, as well as being mid-swing on the busiest (and most CapEx intensive) portion of the fund’s business plan. It was a tough but necessary decision to protect the fund’s long-term health and our investors. With healthy reserves and long-term fixed-rate debt, the fund remains financially healthy and we expect distributions to resume in the coming quarters. Regarding capital calls: To date, we’ve had no capital calls in any of our funds/offerings. Currently we’ve raised preferred equity for a couple of our apartment deals that were structurally impacted by unprecedented increases in insurance/taxes/interest rates, but this differs from a capital call. We’ve taken this step to give these deals more time to refine operations and hopefully benefit from improving market conditions, to try our best to optimize returns for our investors in those deals. Our first fund did benefit from favorable market conditions, and some of the more recent investments have faced different challenges. That said, we are actively managing more than $1B in assets, and the overwhelming majority of our investments are still structurally sound and still on track to achieve our originally projected total returns (even if distributions have fluctuated along the way). We really appreciate your feedback and are always available to chat if you have any further questions.

Sutter L.

6/6/2025

5.00

"Love Open Door Capital!"

We’ve now invested in three deals with Open Door Capital and couldn’t be happier. The team is exceptional, the deals are solid, and their communication is clear and consistent. Before investing, we spoke with several references and consistently heard glowing feedback about how ODC operates. They’ve proven to be trustworthy and highly transparent. Overall, it’s been a great experience, and we’ve truly enjoyed partnering with ODC.

Zach M.

5/28/2025

4.00

"So far, so Good"

Good onboarding. However, initial communication after investment was lacking. I had to reach out to find out some specifics of how the fund was doing in the first few months.

Verified Investor

5/20/2025

1.00

"Failing investment"

Terrible operator and totally inept at vetting deals. Founder's completely checked out. Performance re-baselined lower numerous times and still can't meet targets. Cashflow negative and no communication about viable path to save the fund. Expect the investment to fail and go to 0.

Verified Investor

4/5/2025

1.00

"Brandon come back to work!"

I have invested in three funds: - Texas 3 pack whose distributions are currently paused - Fund 8 and 9 who distributions have always been below proforma and close to be paused as per the most recent communication All the above investments are performing significantly below proforma and also well below new lowered budgets. @Brandon I beg you come back to work and help your team through these difficult times. What legacy are you leaving when you disappeared in the toughest moment and appeared on the last webinar just to say sorry!? Come back to actively work and out your wisdom and energy at the service of humble investors that trusted you.

Open Door Capital

Sponsor Response

4.60

Thanks for sharing your concerns. I’m really glad you had a chance to connect with our CEO, Walker, recently—I hope that conversation helped clarify a few things, especially around Brandon’s continued involvement. We know how disappointing it is when performance doesn’t meet expectations. The truth is, the past year has brought a tough macroeconomic environment. That said, we take full responsibility for navigating through it, and we hope you got some clarity on what we are proactively doing at each of the properties you are invested in. Our entire team, including Brandon, is focused on adapting our strategies, and doing right by our investors. We’re also committed to transparency, so please feel free to reach out to our investor relations team any time you have questions. We truly appreciate your trust and your feedback!

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