I am a new investor (looking for my first investment home) and have been lurking around the threads here for a while.
I am looking into Turnkey homes and would love your inputs into the markets and preferably some turnkey providers.
I am looking to build a portfolio of atleast 3-5 homes in the next couple of years and can do homes around 80-100k if 25% down is needed.
I currently live and own a primary home in Seattle and given how even a 2bd costs a million dollars here, I am looking for out of state investment homes. Happy to answer more questions and get your recommendations.
Unfortunately, for 2021 (at least right now), the "top turnkey markets" are just about any market that has inventory. Inventory is at an all-time low across the board, so a lot of turnkey providers have run out or are running out. New construction is really taking over turnkey world right now because it's the only way to get properties, but those are more expensive than $80-100k. There are turnkey providers with some inventory, but it's not nearly the level of pickings that you would have in a normal year. Which totally sucks. I run a turnkey rental properties Facebook group you're welcome to search on there... lots of talks of different providers, etc.
Welcome to BP! Similar to your market, I am in Northern VA and its very pricey and competitive which is why I explored out of state. My budge was under 100k as well and I found Memphis and Cleveland as my markets where I ended up investing. I have shared my experience below. Let me know if you want to connect and chat about it.