Turnkey company for small multi family?

Question

Hey there,

My husband and I live in California and are looking to invest out of state. Turnkey properties are appealing to us, but we would like to invest in 3-4 unit properties. Do turnkey companies do that or only SFH?

We have $400k to get started with, and we want to stay in 1-2 markets—any suggestions on reputable companies in emerging markets??

Thanks so much!

Ben Meisel · Answer

You might start by poking around @Jay Hinrichs' website which collects investor feedback on turnkey providers: http://turnkey-reviews.com/

Heather Lanser · Answer

Thanks, all, for the input.

Ali, we have $400k capital. Since you are a fellow Californian, I would love to hear your experience!

Ali Boone · Answer

Hey Heather! Depending on the market, some turnkey providers used to offer 3s and 4s. They were good ones too. In the last, maybe, 2-4 years though as the real estate economy has bounced back so hard, the 3s and 4s have kind of become unicorns in turnkey world. As far as I've heard, 4s at least are even hard to find now in non-turnkey world.

Is the $400k your available cash? Or the financed amount? I work with a lot of turnkeys in various markets and there are a couple really interesting options out there that fit higher cash availability. Happy to chat anytime!

Antoine Martel · Answer

I have always been interested in this space and I think there is a gap to fill for the 4plex turn key rental property market. I'm hoping to be able to get into this space shortly.

It's just harder to find the supply for these properties as well.

Tom Ott · Answer

Sometimes, but they are not often "turnkey" in the sense that the provider selling it to you does not own it nor did they do renovations. They just look for properties on the MLS that do not need a lot of work.

Finding a company that Turnkeys multis like that might be harder to find than SFR as the returns are more difficult to estimate. Keep looking, I am sure you'll find one!

Heather Lanser · Answer

Thank you for that!

Turnkey company for small multi family?

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