Turnkey properties in out of state for cash flow

[Fernando E.]

Hi BP family, hope you are all well

Wanted to get your experienced insight on turnkey properties out of state. I live in the bay area and considering finding a turn key property in Indianapolis as I heard from folks here in BP that it's a growing market and has a lot of potential. 

Wanted to ask you guys as the expert on turn key on what works and what doesn't work? Any pit falls or traps that I should avoid? Does turn key appreciates in value or is this primarily for cash flow? 

My plan is to just increase cash flow using turn key properties, buy and hold while keeping my full time job. Once i find a working formula, I just hope to repeat. Will very much appreciate you guy's knowledge and input. Cheers family!

[Rob LaRovere]

Hi Fernando Enrile
When investing in Indy, I wouldn't bank on too much appreciation for TK props, but would look at it from a cash flow perspective. Depending on the area, a good TK could be purchased for 30-50k all-in (closer to the 30k side if not in a township). It depends on your risk tolerance, but there are certainly plenty of those lower price point properties available that you could purchase. Like many cities, Indy is street by street so I do suggest flying out here to check it out before investing. There are a couple TK operators to avoid and there are a couple to recommend. I'm not sure if FS Houses is still offering TK solutions, but if they are I recommend contacting them. Shawn Holsapple might also have good info for you. Feel free to PM for more details on the operators to avoid.