Rental Property Investor · Azle, TX · Member since 2015 · 11 posts · 14 votes
Good Morning everyone,
Im a newer member to BiggerPockets and I have been trying to test out my idea for a business and just wanted to know y'alls thoughts. The business itself is a team of realtors and contractors, myself and my husband included, to provide the client a sort of one stop shop for their buying and renovation needs. We will help the client find an undervalued home and then renovate it to their needs/desires within the company. It is basically flipping only you have a client from start to finish. I know that this leaves less room for profit and head ache than a fix and flip, but as a veteran and a military spouse in a high military population, I want to provide those families with equity since at any moment they can get orders, and I hate seeing people I know pay an arm and a leg to sell their house because they didn't have an equity in their home. I may be a dreamer with this business plan but that's why I come to you to get your feedback. Thank you in advance.
Real Estate Agent · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
10y
It sounds like you want to start a turnkey company Thee is plenty of threads on bP and there is a few members that operate a site called turnkey reviews
Investor · El Dorado Hills, CA · Member since 2012 · 1k+ posts · 1k+ votes
10y
It takes cash or big lines of credit to buy distressed properties and to remodel... and most people don't have that type of cash lying around. They may qualify to buy the finished product with a VA loan, but they don't have the cash to fund that type of project from start to finish. I like the idea but I think your client pool is too narrow to be successful.
Rental Property Investor · Azle, TX · Member since 2015 · 11 posts · 14 votes
10y
I've never heard of a turn-key investment until y'all brought it up. Im curious though after some research a pattern is emerging that this is really remodeled rental properties for investors to purchase that have property management already in place. Is that what a typical "turn-key" that y'all are talking about is? If so, that's not really the business model. The business model is really meant for someone to purchase as their primary residence. There is potential for an investor to buy, however I wouldn't have property management in place.