Los Angeles, CA · Member since 2019 · 10 posts · 2 votes
Hello
I am looking to make my first property purchase and after trying to manage it alone I have started looking at turnkey options. I live in California but am looking to invest in Memphis.
My thoughts are leveraging turnkey for my first few purchases will give me access to speed and resources that I don't have in an out of state market and I am also looking to see the practical pieces of the process so I can model those going forward. I know that I will pay a premium for the convenience of turnkey but I'm thinking it may be worth it to start this way before taking one on myself/building my team to manage it.
Has anyone gone this route? Would love to hear your thoughts and experiences.
@Shauna Gingras I bought turnkeys myself and there is nothing wrong with it. Turnkeys served as a good starting point for me. I didn't get the experience of calculating and managing rehabs, but I did get experience of researching markets, analyzing deals, going through the purchase process, dealing with pms, and knowing what to expect from vacancies.