Any good turnkey operations in Florida?

19 Replies

Just starting out based in Cali and have been looking at Florida lately. Was in talks with a turnkey operation out of the tampa/orlando area but am seeing some red flags that are making me want to look elsewhere.

Updated almost 4 years ago

Just to clarify, I still like that area, just looking for another turnkey provider.

Robert,

The area in Naples is red hot right now and I've done great there. PM me if you want the company info/specifics.

I used to know of a turnkey company out of...somewhere near Ft. Myers? No idea if they are still in business but I could ask.

The hard part about FL is the property taxes and insurance are typically so high, it tends to knock out any profit potential. Hence why there aren't more turnkey providers down there.

Whatever you do, don't get duped by Lehigh Acres though, I know that.

Medium hipsterinvestment logo black300dpiAli Boone, Hipster Investments | [email protected] | 310‑957‑2101 | https://goo.gl/x52ZKJ

Originally posted by @Ali Boone :
I used to know of a turnkey company out of...somewhere near Ft. Myers? No idea if they are still in business but I could ask.

The hard part about FL is the property taxes and insurance are typically so high, it tends to knock out any profit potential. Hence why there aren't more turnkey providers down there.

Whatever you do, don't get duped by Lehigh Acres though, I know that.

Thanks, good to know, what do you mean by getting duped by Lehigh Acres?

me too.. whats the deal with lehigh acres?

@Robert H. @Frank Uzzi @John Thedford @Rocco L.

There is no reason to 'knock' Lehigh Acres. It's a good little market that piggy-backs off of Fort Myers in southwest Florida. It's ridiculous to think that you'll get "duped" there any more than you'd get "duped" in another market. It comes down to the market, who you work with, what you buy, and the due diligence you've done. You could get "duped" anywhere.

I've personally owned four properties in Lehigh Acres and did very well there. In fact I've even bought properties across the river in Cape Coral.

The numbers work well there with 8.0% to 9.0% cap rates on single-family homes, and higher on duplexes. There is a lot of interest in property there, and that has left us short on inventory. (I guess that's a good problem.)

Medium norada real estate investmentsMarco Santarelli, Norada Real Estate Investments | (800) 611‑3060 | http://www.NoradaRealEstate.com

@Marco Santarelli

I am familiar somewhat with Lehigh. The best ROI I receive on any SFR is my Lehigh property. You do have to be careful where you buy (like any other market). The only thing that sticks with me is the fact that when I had both Lehigh and Cape Coral houses advertised for rent the Cape houses got by far the most action.

No company avatar mediumJohn Thedford, John Thedford | 239‑200‑5600 | http://www.capehomebuyers.com

If you can expand your horizons to Jacksonville, FL then JWB Real Estate Capital is a great turnkey company.  Full disclosure:  I have owned one of their turnkey properties for ~ 2 yrs now.  Do your own due diligence, but I have been impressed with their customer service and responsiveness.  

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@Marco Santarelli

  I agree that statement about getting duped was kind of amateurish .  I was first introduced to Leigh High in 1982  I was on a CA select committee that was studying large subdivisions that were developed prior to modern zoning laws.  Much like in CA were you have millions of platted lots that the roads were never put in etc.. Many up in the desert north of LA.

That being said,  I also invested there in 09 when foreclosures were hot.. I bought many homes there for 25 to 40k... and a duplex for I think 37k  fixed them and flipped them to German investors.  The market has actually bounced back nicely there for those that could get off the fence and partake in the incredible buys that were there.  The housing stock is newer... and all of Florida has the same issues with Hurricane insurance and such,

But I would sure take that over some of the Inner city ghettos that the person who posted don't get "duped"  try's to hawk   LOL  ignorance is bliss

Medium ksqoekox 400x400Jay Hinrichs, TurnKey-Reviews.com | Podcast Guest on Show #222

A lot of my investors buy nothing but the turnkey properties we acquire here in the Orlando area.  Numbers are numbers.  Some add up to wonderful returns and the equity continues to grow here at a managable pace.  With that being said, we turn down more properties than we accept.  The numbers have to work for our investors or we don't take them.  A lot of negotiating with sellers, but the turnkeys are here and money to be made along with them.

Originally posted by @Robert H. :

Just starting out based in Cali and have been looking at Florida lately. Was in talks with a turnkey operation out of the tampa/orlando area but am seeing some red flags that are making me want to look elsewhere.

 I would review and speak with JWB out of Jacksonville.  I know them personally and have worked with them in different Mastermind groups.  They are a quality team and I think they offer a fair price for their products and services.  They are also selective so If nothing else, they work hard to insure that they have a good fit with their investors before allowing them to buy a property, which definitely makes for a better long-term relationship.   PM me and I give you the number to their CEO who is still happy to talk to prospective clients before they purchase.

Good luck as you get started - 

Medium memphis invest logo mdh 12 4 14Chris Clothier, Memphis Invest, GP | 901‑751‑7191 | http://www.memphisinvest.com | Podcast Guest on Show #224

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@Colin Murphyhas turn key in FL.

I would recommend checking out JWB out of Jacksonville. I have not purchased anything through them but I know of the founders and they are legit. You will not be disappointed.

Medium roofstock logoZach Evanish, Roofstock | [email protected] | 510‑269‑9400 | http://www.roofstock.com

Originally posted by @Zach Evanish :

I would recommend checking out JWB out of Jacksonville. I have not purchased anything through them but I know of the founders and they are legit. You will not be disappointed.

Thanks Zach and Chris!  Our company - JWB Real Estate Capital - provides turnkey properties in Jacksonville, FL and I'd be happy to help anyone interested in learning more about how we serve our clients.  I'm relatively new to Bigger Pockets but I'm looking forward to being a contributing member of the community!

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