Turnkey properties- what are the best ones around the country?

18 Replies

Hello BP!

I am looking to buy a turnkey property. I talked with Bridge Turnkey but they are not very responsive as I’m looking for a property. Can anyone give me some other reliable turnkey companies around the country?

I appreciate it!

Originally posted by @Olga Andrukh :

Hello BP!

I am looking to buy a turnkey property. I talked with Bridge Turnkey but they are not very responsive as I’m looking for a property. Can anyone give me some other reliable turnkey companies around the country?

I appreciate it!

Hi Olga,

I'm happy to list a few companies that I get some good reviews and comments here on BP. My team at REI Nation is always available if you'd like to speak, but there are many others as well that you should research. These companies represent, FL, TN, AR, MS, WI, KS, TX, NM, AL, IN, MO, OK, OH. so there is a good variety of markets here.

Jacksonville Wealth Builders - FL
Martel Turnkey - OH, TN - I've heard good things about them 
Texas Turnkey - Houston and Albuquerque - again, I know there owners and they are really good people. Good operations.
Memphis Turnkey - Alex Craig and his team operate in Little Rock and Memphis
Spartan - They operate in Northern Alabama.
Mid-south Homebuyers - Terry Kerr is the owner there and they operate very efficiently in a price point that is difficult to be successful.  They also have good reviews here on BP.
Pinnacle properties - Mike D'arrigo operates in Kansas City and Indianapolis.
Storehouse 3:10 - I think I got that correct.  I think they operate out of Milwaukee.

You can research each of these companies right here on BP and ask for referrals.  I'm sure there are other companies, but be careful to make sure you are speaking with a provider and not a promoter.  There is a difference.  One purchases and sells investment properties.  The other makes recommendations to investors and guides them to particular turnkey providers and collect a fee from the provider.  In essence the difference is in the product being sold.  The providers sell properties to investors and the promoters sell investors to turnkey companies.  

Happy to share good questions to ask Turnkey companies as well once you've narrowed your list a bit to the companies you may be interested in developing a conversation with.  Best of luck as you get started.

 

Originally posted by @Olga Andrukh :

@Jay Hinrichs

It may be due to lack of inventory, so I wanted to see what other good companies are out there. I heard good things about bridge, so I started my search there!

Ok got you lack of product and non responsive are two very different things..  Inventory is tough all over the US right now..  My teams seem to be doing pretty good in that regard though .. 

Hey @Crystal St. Clair

Thank you for the suggestion! Would you say your properties are making you pretty good profit? How much was your first property and what percent did you need to put down for your first property? You can DM me too if that’s better. I want to get started, but I want to make sure I have a good amount saved up to start. Thanks in advance! :)

Hi @Olga Andrukh !

I went with a turnkey property for my first investment this past October (see post below). I had an excellent experience purchasing the property and so far the property is performing according to my expectations. I would be happy to discuss more if you had specific questions about my experience.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Originally posted by @Crystal St. Clair :

@Olga Andrukh. Hi Olga. I highly recommend REI Nation. I have an few properties with them and they are a top notch turnkey company. They truly value customer service and make purchasing homes a seamless process.

@Crystal St. Clair Thanks for the kind words! Also, Thank You for the referrals you have sent our way as well. Knowing that your experience has been one worth telling others about means a lot to me and our incredible team that works so hard to make it happen.  

Originally posted by @Crystal St. Clair :

@Olga Andrukh. Hi Olga. I highly recommend REI Nation. I have an few properties with them and they are a top notch turnkey company. They truly value customer service and make purchasing homes a seamless process.

Welcome to BiggerPockets!  This is a great site for real estate investors and I hope you have a great experience posting here.  Whatever you are looking for as an investor you can find here at BP and as always, you can reach out to me, @Ashley Claunch or @Allen Nason  right here on the site with questions and comments.  I have been a part of the BiggerPockets community for almost 13 years now and have built some amazing friendships and colleagues on the site.  So, jump in and enjoy and reach out if I can help.

Thank you so much for the kind words about our company and team and I love that you are having the experience you expected!  

A 'Turn-key Property' and a 'turn-key company/provider' in my opinion are two different things. What are you looking for?

My definition of Turn-key property - A property that needs little to no work before you can find a tenant. This may be a strategy if you plan to self-manage or already have a property management company in place. This may also be good if you don't like working with contractors(in the start) or want to get cash right away. The con of this approach is that you normally spend more for the property in the aggregate than a fixer-upper.

My definition of turn-key company - A company that will hold your hand through the whole process.
They will either sell you a property in their portfolio that is already fixed up or you will buy a fixer-upper and they will manage the rehab process. They will find the tenant for you and also manage the property.

Not an absolute rule but in general, the less work that you do on your end, the less you can expect in a return.

@Olga Andrukh We aren't a turnkey company but somewhat similar. We started off as out of state investors ourselves and now have an investment firm where we help other out of state investors acquire properties, manage their rehabs (if needed), and place tenants / manage their properties. If you're ever interested in Jacksonville, FL, let me know :) Best of luck to you on your investment journey!