Is their a Turn-Key Multi-family listing site?

Question

I am looking to move from SFR to MF investing via a 1031 Exchange and was wondering if there are any Turn-Key MF sites like Roofstock out there to evaluate properties for sale?

Thanks for your time.

Taylor L. · Answer

Not that I've seen. Multifamily is a totally different market. If you're looking for passive investments in multifamily you should research syndications.

Account Closed · Answer

@Dan Gorman

You can start with loopnet.com, but properties listed there have usually been passed around quite a bit before they get posted there. It will give you a sense of the market and you can connect with brokers in your target market who can possibly show you other properties.

Taylor L. · Answer

@Dan Gorman The timing won't be super helpful at this point, but I have an episode coming out at the end of next month about 1031ing into syndications. It's difficult but possible.

Basically, you need to invest through a Delaware Statutory Trust. At this point it's probably too late in the process to actually ID a decent opportunity, unfortunately.

Lee Ripma · Answer

@Dan Gorman

I think sometimes people confuse the word turnkey with a turnkey company. A turnkey property is just one that doesn’t need any work and is already fixed up and performing. A turnkey company sells turnkey properties direct to seller, usually in lower cost midwest markets, and usually SFH. So if you you truly need to identify by tomorrow here are some things to consider:

1. For your exchange you need to go on title so a syndication won’t work unless you can be on title. Usually syndications put you in as a member of an LLC so they don’t work for your exchange. Sometimes they will let you go on title if title is held in a TIC or you can own a fraction of a property using a TIC.

2. Look into TICs. You may be able to get someone you know to sell you a fractional interest in a property they own or one they will close on.

3. You can go into a DST with your exchange. Look these up.

4. You can go into an opportunity zone with your exchange money. You will have to pay some taxes but not all. If you look up how these work it’ll make more sense. You’ll pay 85% of the taxes on your gain from this sale but future gains will be tax free

Dan Gorman · Answer

Thank you all for your advice last year. We ended up investing in two DST's.

Sorry for the delay in responding.

Dan Gorman · Answer

Thank you for the responses. My 1031 45 day ID deadline is tomorrow. I like the passive syndication idea on the surface. Where can I learn more about this strategy / option?

Chris Coleman · Answer

@Dan Gorman

I’ve been investing in both turnkey and multifamily for several years, but I don’t think I’ve ever come across a turnkey operator that does anything more than a one-off duplex now and then.

As @Taylor L. mentioned, if you’re interested in passively investing in multifamily, then you may want to consider multifamily syndications.  It can be more truly passive than turnkey rentals.

Is their a Turn-Key Multi-family listing site?

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