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Open Door Capital Details
Assets Under Management$982M
Average IRR35.00%
Average Equity Multiple1.7x
4.02
Open Door Capital Website
Open Door Capital Overview
Open Door Capital is a privately held real estate investment firm founded by Brandon Turner that focuses on mobile home parks, self-storage facilities, and multifamily housing. Since its founding, Open Door Capital has acquired nearly $1 billion in real estate across more than 13,000 units and has partnered with over 2,000 investors.
Address
Kiehi,
Hawaii
96753
Year Founded
2017
Operates In
Virginia
Florida
Georgia
Mississippi
Texas
Asset Classes
Multifamily
Storage
Mobile Home Parks
Accepted Investors
Accredited
highlighted review
Jeff Y.
5.00
"Clear Communications and Returns are Beating my Expectations"
I am thrilled to share my experience with Open Door Capital (ODC) as an investor in Fund 11. From the very beginning, the investor relations manager has been incredibly responsive, addressing all my queries promptly and thoroughly. This level of communication has been a breath of fresh air and has made the entire investment process smooth and reassuring. In just a few months, Fund 11 has already outperformed my expectations. The returns have been impressive, and it’s clear that ODC’s strategic approach is paying off. One aspect that particularly stood out to me was how transparently ODC communicated their decision not to move forward with one of the assets in the fund. They provided clear reasoning and allocated the funds wisely, ensuring that our investments remained secure and profitable. Given my positive experience, I am confident that I will continue to invest with ODC in the future. Their professionalism, transparency, and impressive performance make them a standout in the investment world. Highly recommended!
Verified Investor
2.00
"Open Door Capital Hollister Place Apartments"
I invested with ODC due to following Brandon Turner and wanting to support him with ODC. This was one of my first LP investments so I just trusted pro forma without the sponsor having the backing of a solid track record on bigger assets and in Houston, TX. On this particular deal they partnered with Disrupt Equity as the property manager. Disrupt Equity appeared to be a solid local operator, however that turn out not to be the case, property lost occupancy and did not perform close to the projections. I would definitely say don't invest with Disrupt Equity as they dropped the ball in property management and I would say ODC has to go through growing pains of a newer sponsor trying to find their footing with their team, hires, etc. Currently this project has paused distributions over the past year and the total distribution is less than 1% annualized since investing late in 2022. Looking back I now tend to favor vertically integrated sponsors feeling like it limits this risk an you don't have to do due diligence on 2 sponsors.
Michael H.
1.00
"Lost 100% of Capital"
We lost 100% of capital in the deal we participated. The deal struggled immediately out of the gate. Communicated last year expectation to lose 70% of capital but worked different avenues trying to save the deal. Once those avenues were exhausted, ended up having to sell at complete loss for the equity in our class of shares. Do not recommend.
Open Door Capital
Hi Michael. It’s true that we worked all angles possible to try to save this deal. While Class A equity holders received their principal and preferred return, we ultimately came up short for our Class B investors. We understand how disappointing that is and recognize the trust placed in us when you invested. If you would like to discuss the specifics of your investment, our team is always available.
Verified Investor
1.00
"Disappointed "
Unfortunately I was advised I would have a 100% loss of capital invested into Heights on Katy. Management is friendly, but this is not acceptable.
Open Door Capital
Thank you for the kind words about our management team. As for Heights on Katy, we made every effort possible to change the outcome of this deal. We explored restructurings, recapitalization options, and multiple other strategies to preserve equity. And while Class A equity holders received their principal and preferred return, the final outcome did result in capital loss for our Class B investors. We are genuinely sorry that this is how the investment ultimately turned out. We don’t take the trust that you put in us lightly. While we can’t speak to your specific account due to the anonymous review, we are always available if you have any questions.
Verified Investor
1.00
"Strong Marketing, Very Poor Investor Outcomes (My Experience)"
I invested $100,000 into a real estate syndication in 2021 associated with Brandon Turner’s operation. Nearly three years later, I’ve received essentially no distributions, and the return of principal is now uncertain. While Brandon continues to teach and market real estate investing online, the real-world performance of this investment has been extremely poor. This experience has taught me that strong marketing and education content do not necessarily translate into strong execution or capital protection. I’m sharing this strictly as my personal experience so others can do deeper due diligence, ask harder questions about downside risk, leverage, and sponsor incentives, and not rely solely on reputation or online presence when investing.
Open Door Capital
Based on the timing and details referenced, it appears this may relate to the Sunbelt Diversified Portfolio. With the recent capital call and loan modification completed, we are hopeful for the future of these assets. We would genuinely welcome the opportunity to connect and review the details together so we can address your concerns and update you on where we are with these assets today.