I'm looking to get started in purchasing real estate and I'm intrigued by the idea of using a turn-key company like Memphis Invest since it seems like they would take almost all of the hassle out of the process. I live in Santa Clara, CA and would love to invest in an area a little closer than Memphis, so I was wondering if anyone knows of any companies that operate similarly to Memphis Invest (but in different regions across the US)?
Are you referring to turnkey properties in general (who rehab, rent, and manage properties) in the US or TK providers with the reputation and caliber of Memphis Invest?
They also provide the same service in Dallas and Houston which is a little closer to you.
I would guess Vegas to be the closest market to you for someone provide a TK service but not familiar with anyone there.
What markets are of interest to you?
@Brie Schmidt Preferably companies with excellent reputations, although I realize Memphis Invest is one of the top companies in the industry so that may be a big pair of shoes to fill.
@Account Closed I'm pretty new to this so to be honest I'm not entirely sure. I'm originally from Portland, OR and now live in Santa Clara, so my original thought was to try and invest as close to these areas as possible, but from what I've read there aren't a lot of viable markets out here (maybe Vegas as Curt mentioned), so expanding eastward may be the way to go. I'd welcome any suggestions you guys might have!
Thanks for all of your help and near immediate responses! This is my first post here and I'm thoroughly impressed with you all as a community
@Kurt Sprouse I'm part of the Memphis Invest team if you'd like to review what you're looking for one:one you can message me. Always glad to help & see what's the best fit for you personally. As Curt mentioned, we do also operate in Dallas & Houston. I work with many investors like yourself residing in CA, and looking for opportunities beyond your backyard. You're not alone there. The invitation is always open. BP is a very helpful & insightful community when it comes to investing. You're in good company. Best of luck on your endeavor.
To Your Success,
Memphis Invest is quite likely the largest turnkey provider in country, but there are literally hundreds of others, large and small, and everything in between some of them much better than others. I too live on the West Coast and have invested successfully in out of state turnkey properties. What you find in providers can largely depend on the market(s) you choose to invest in.
I know of quite a few. The closest markets out this way would be Chicago and Kansas City. There isn't anything for turnkey companies on the west coast because there isn't enough inventory that cash flows for a turnkey model to work.
I live in LA (Venice) and have always bought turnkeys myself. It's a great way to go!
In addition to what @Brie Schmidt asked i would think about if you mean you want to be that passive or a little more active. To me Memphis Invest has really built itself up as the company to go to if you want to be really really passive, in nice areas and have a company that is customer service focused. I wouldn't say that their properties are screaming deals rather I think they aim to be more steady eddie. For me I would rather be a little more active and generate higher returns but it definitively comes with more required understanding, more learning and more things to watch out for.
In short were you talking about their reputation, their business model, their property types etc.