Hello all, has any of you guys purchased your rental from a Turn Key operator? Who did you use? How was the experience? And i assuming they are all cash flowing right? Thank you.
Real Estate Agent · Memphis, TN · Member since 2021 · 88 posts · 50 votes
4y
Hi Mesa,
Choosing the right turn key provider is key. I am sure you are doing your research, but make sure you are looking into how long they have been a company, talk to investors that are already with that company to get to know their experience, look into their internal processes, and the areas they buy in. These are just a few things to look into, but I would love to connect with you to discuss more!
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
4y
Before you do, check out @James Wise's YouTube channel - he has several videos on how to do due diligence on turnkey properties and operators. Great stuff!
Real Estate Agent · Memphis, TN · Member since 2021 · 88 posts · 50 votes
4y
Hi Mesa,
Choosing the right turn key provider is key. I am sure you are doing your research, but make sure you are looking into how long they have been a company, talk to investors that are already with that company to get to know their experience, look into their internal processes, and the areas they buy in. These are just a few things to look into, but I would love to connect with you to discuss more!
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
4y
All my properties except one came from turnkey providers and I help people buy from turnkey providers (I run the turnkeys Facebook group, etc.) Presumably they should all cash flow, but if you get into some of the new construction turnkey deals now, might not.
There's a lot of turnkey options out there. Do you have a specific price range, budget, property type preferences, etc? Or just starting out and trying to navigate it all?
I would like to try selling a turnkey short term rental. My family works together to set up our short term rentals and right now it is an enjoyable and rewarding process to set them up and get them running smoothly. I would like to be very active in setting up short term rentals for the next few years so want to consider doing the set up, running for a year to show gross revenue and then selling to do it all again. Has anyone done this on a small scale as an individual investor? Any suggestions on how to price a turnkey short term rental-base it on annual gross earnings? Do you sell the furniture separately due to tax implications?