How to find the best turnkey investment property

Question

Hi!

There are many companies selling turnkey rentals as an investment which is good for people like me that don't have enough time and knowledge for buying forecloses, flipping.... but my question is : Is there any good guide or website about how to select a good turnkey property? I am talking about how to analyze location, property and future appreciation... any advise would be very welcome.

Thank you!!

Ali Boone · Answer

Hey Antonio, I have bought several turnkey properties and have done really well finding good providers. I've had a couple not-so-hot ones but recovered from those fine and learned a lot about what to look for in a company. There are some really good ones out there!The key things that matter are 1. the market, 2. the property quality, and 3. the property management. If any of those three suck, you could be in some trouble. Nail those 3 out, and you should be good to go! I just wrote an article today that will get published this weekend about due diligence on turnkeys and how to protect yourself when buying turnkeys.

Chris Clothier · Answer

Antonio C. -

Welcome to BP! It is a great place to actually find the information you are looking for. Both Marco Santarelli and Ali Boone gave you some good advice, but I wanted to expand on what Ali said. If you did not already know, there is a BP blog where different writers post articles each day. There are dozens of articles about "how to" when it comes to finding turnkey properties, cities and vendors (not in that order though!).

I also agree that you really need to research a market first and get comfortable with it. Know that you like the city itself - then research a partner to use there (turnkey) company and then look at properties. Whatever you do, DO NOT start with cheap properties that look like they have great numbers and then start trying to justify buying. My advice it to research good markets - which you will find a ton of great info on here - research great companies and then start looking at actual properties.

If you go in that order and post any questions you have along the way, I am confident you can start zeroing in on opportunities that you like in a short period of time.

All the best to you -

Chris

How to find the best turnkey investment property

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