Looking for a Turn-Key rental property company

Atlanta, Georgia
Buying & Selling Real Estate
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Looking for a Turn-Key rental property company

Grant Anderson
Investor · Indianapolis, IN · Member since 2010 · 117 posts · 41 votes

Hello, I am interested in purchasing a turn key rental property in Atlanta, GA. Doe anyone have any recommendations? I am looking for a company that has properties in A, B or high C neighborhoods. Thanks for the help.

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Zach LemasterBusiness Member
Rental Property Investor · Denver, CO · Member since 2015 · 1k+ posts · 3k+ votes
3y

@Bernard Joseph S.

I appreciate the mention!  We have had recent opportunity in secondary markets right outside of Atlanta & are now starting to see those pop up again.  So I would think this is a market we will become more active in during 2023.

Here are some recourses for anyone that would like to read more on TK or RTR:

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/44/topics/1058814-first-time-with-new-construction-cape-coral-fl?highlight_post=6055029&page=1

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

https://www.biggerpockets.com/forums/88/topics/1047543-big-profits-from-new-construction-sfr-build-in-cape-coral-fl

[email protected]800-311-6781Podcast Guest on Show How to Get 10%+ Off Your Next Real Estate Deal Right Now
Rent To Retirement5334 Reviews
WebsiteView Page
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  • Andrew PostellPro Member
    Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
    3y

    @Grant Anderson yeah, this is exactly what a real estate agent is used for.  They can show you all you want to see and they are free for you to use them.

    0Reply
  • Michael Dumler
    Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
    3y

    @Grant Anderson, since working as an investor-focused real estate agent in metro ATL, I have honestly yet to meet and connect with any reliable turnkey companies. As others have noted above, you need to find and work with an agent whose business is predominantly dealing in investment transactions. Moreover, on-market turnkey rentals that cash flow on day one are often hard to come by because of the price-to-rent ratio. If you're buying a turnkey investment in the surrounding ATL markets, it should be looked upon from an appreciation perspective with the likelihood of future rent growth. If you have any additional real estate-related or ATL market-specific questions feel free to reach me via cell or email (contact info is listed in my bio). 

    0Reply
  • Bernard Joseph S.
    Investor · NJ · Member since 2022 · 154 posts · 223 votes
    3y

    I'm a fan of Rent to Retirement but I don't recall any Atlanta or Georgia property recently. If you're willing to expand your search outside of there they may be worth a look for you.  

    5Reply
  • Zach LemasterBusiness Member
    Rental Property Investor · Denver, CO · Member since 2015 · 1k+ posts · 3k+ votes
    3y

    @Bernard Joseph S.

    I appreciate the mention!  We have had recent opportunity in secondary markets right outside of Atlanta & are now starting to see those pop up again.  So I would think this is a market we will become more active in during 2023.

    Here are some recourses for anyone that would like to read more on TK or RTR:

    https://www.biggerpockets.com/users/ZacharyCole/references

    https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

    https://www.biggerpockets.com/forums/44/topics/1058814-first-time-with-new-construction-cape-coral-fl?highlight_post=6055029&page=1

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

    https://www.biggerpockets.com/forums/88/topics/1047543-big-profits-from-new-construction-sfr-build-in-cape-coral-fl

    [email protected]800-311-6781Podcast Guest on Show How to Get 10%+ Off Your Next Real Estate Deal Right Now
    Rent To Retirement5334 Reviews
    WebsiteView Page
    6Reply
  • January Johnson
    Real Estate Agent · Emerald Coast, FL · Member since 2016 · 820 posts · 486 votes
    3y
    Quote from @Andrew Postell:

    @Grant Anderson yeah, this is exactly what a real estate agent is used for.  They can show you all you want to see and they are free for you to use them.

    Real estate agents' time and expertise is not "free". It is actually unethical for us as REALTORS to promote our services as no-cost (it's in the NAR Code of Ethics).

    The Seller typically pays the broker commissions, but the buyer pays for it in the contract price of the home.  Nothing is FREE.  ;  )

    3Reply
  • January Johnson
    Real Estate Agent · Emerald Coast, FL · Member since 2016 · 820 posts · 486 votes
    3y
    Quote from @Grant Anderson:

    Hello, I am interested in purchasing a turn key rental property in Atlanta, GA. Doe anyone have any recommendations? I am looking for a company that has properties in A, B or high C neighborhoods. Thanks for the help.


    Any reason why you are only considering ATL? Panama City Beach is a short, direct flight away, and we have LOADS of great, turnkey STRable properties. You didn't specify "STR", so I am assuming.

    0Reply
  • Jim Canull
    Real Estate Broker · Member since 2018 · 28 posts · 8 votes
    3y
    Quote from @Grant Anderson:

    Hello, I am interested in purchasing a turn key rental property in Atlanta, GA. Doe anyone have any recommendations? I am looking for a company that has properties in A, B or high C neighborhoods. Thanks for the help.

     Any interest in Indianapolis?  Feel free to reach out to see what is in our pipeline

    0Reply
  • Grant Anderson
    OP
    Investor · Indianapolis, IN · Member since 2010 · 117 posts · 41 votes
    3y
    Quote from @January Johnson:
    Quote from @Grant Anderson:

    Hello, I am interested in purchasing a turn key rental property in Atlanta, GA. Doe anyone have any recommendations? I am looking for a company that has properties in A, B or high C neighborhoods. Thanks for the help.


    Any reason why you are only considering ATL? Panama City Beach is a short, direct flight away, and we have LOADS of great, turnkey STRable properties. You didn't specify "STR", so I am assuming.


     Already have my team in Florida markets, looking for a turn key provider in Atlanta area for long term rentals.

    0Reply
  • Grant Anderson
    OP
    Investor · Indianapolis, IN · Member since 2010 · 117 posts · 41 votes
    3y
    Quote from @Jim Canull:
    Quote from @Grant Anderson:

    Hello, I am interested in purchasing a turn key rental property in Atlanta, GA. Doe anyone have any recommendations? I am looking for a company that has properties in A, B or high C neighborhoods. Thanks for the help.

    Not interested in Indianapolis, already have my team there. Do you know a turn key provider in Atlanta area?

     Any interest in Indianapolis?  Feel free to reach out to see what is in our pipeline


    0Reply
  • Grant Anderson
    OP
    Investor · Indianapolis, IN · Member since 2010 · 117 posts · 41 votes
    3y
    Quote from @Andrew Postell:

    @Grant Anderson yeah, this is exactly what a real estate agent is used for.  They can show you all you want to see and they are free for you to use them.


     Thanks but really looking for a turn key company in Atlanta area. Do you happen to know any?

    0Reply
  • Grant Anderson
    OP
    Investor · Indianapolis, IN · Member since 2010 · 117 posts · 41 votes
    3y
    Quote from @Michael Dumler:

    @Grant Anderson, since working as an investor-focused real estate agent in metro ATL, I have honestly yet to meet and connect with any reliable turnkey companies. As others have noted above, you need to find and work with an agent whose business is predominantly dealing in investment transactions. Moreover, on-market turnkey rentals that cash flow on day one are often hard to come by because of the price-to-rent ratio. If you're buying a turnkey investment in the surrounding ATL markets, it should be looked upon from an appreciation perspective with the likelihood of future rent growth. If you have any additional real estate-related or ATL market-specific questions feel free to reach me via cell or email (contact info is listed in my bio). 


     Thanks but I am really looking for a turn key company in the Atlanta area. Do you know any?

    0Reply
  • Grant Anderson
    OP
    Investor · Indianapolis, IN · Member since 2010 · 117 posts · 41 votes
    3y
    Quote from @Bernard Joseph S.:

    I'm a fan of Rent to Retirement but I don't recall any Atlanta or Georgia property recently. If you're willing to expand your search outside of there they may be worth a look for you.  

    Thanks I will look into them. 
    1Reply
  • V.G JasonPro Member
    Investor · Member since 2022 · 3k+ posts · 3k+ votes
    3y

    I've looked myself @Grant Anderson to no avail. If you find something, let me know.

    0Reply
  • Jingru Sui
    Real Estate Agent · Atlanta, GA · Member since 2014 · 683 posts · 317 votes
    3y

    Hi @Grant Anderson what’s the service you want to get from these turn key company? Sourcing deals, guide you to closing and later manage repair/rehab then lease out and manage? A good agent can do these as well. Is there something else you want to find in this turn key companies? 

    0Reply
  • Bernard Joseph S.
    Investor · NJ · Member since 2022 · 154 posts · 223 votes
    3y

    Turnkey seems to mean different things to different people. In my mind it's more of a passive experience after finding the property whether new construction or rehab and getting it up and running with management in place. On the other hand, you can make it as involved as you want as well. Local turnkey and out of state turnkey are very different from a personal perspective.

    1Reply
  • Grant Anderson
    OP
    Investor · Indianapolis, IN · Member since 2010 · 117 posts · 41 votes
    3y
    Quote from @Jingru Sui:

    Hi @Grant Anderson what’s the service you want to get from these turn key company? Sourcing deals, guide you to closing and later manage repair/rehab then lease out and manage? A good agent can do these as well. Is there something else you want to find in this turn key companies? 

    Looking for a company that can provide properties that are already rehabbed and ready to rent along with a property management company and can provide multiple properties per month. 
    2Reply
  • Jingru Sui
    Real Estate Agent · Atlanta, GA · Member since 2014 · 683 posts · 317 votes
    3y
    Quote from @Grant Anderson:
    Quote from @Jingru Sui:

    Hi @Grant Anderson what’s the service you want to get from these turn key company? Sourcing deals, guide you to closing and later manage repair/rehab then lease out and manage? A good agent can do these as well. Is there something else you want to find in this turn key companies? 

    Looking for a company that can provide properties that are already rehabbed and ready to rent along with a property management company and can provide multiple properties per month. 
    Grant i have some clients invest with roofstock. I have not invested with them so i can’t provide feedback. They seems to have what you want. 
    0Reply
  • Bernard Joseph S.
    Investor · NJ · Member since 2022 · 154 posts · 223 votes
    3y
    Quote from @Jingru Sui:
    Quote from @Grant Anderson:
    Quote from @Jingru Sui:

    Hi @Grant Anderson what’s the service you want to get from these turn key company? Sourcing deals, guide you to closing and later manage repair/rehab then lease out and manage? A good agent can do these as well. Is there something else you want to find in this turn key companies? 

    Looking for a company that can provide properties that are already rehabbed and ready to rent along with a property management company and can provide multiple properties per month. 
    Grant i have some clients invest with roofstock. I have not invested with them so i can’t provide feedback. They seems to have what you want. 

     I thought Roofstock had properties prehab, do the reno that they suggest with them after closing and then they set up management. Correct me if I'm wrong.

    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    3y

    @Grant Anderson

    While investing via Turnkey Rentals sounds easy, you should understand that you will be paying full retail, often even more, for the properties.

    Why? The Turnkey provider is looking to maximize their profits!

    Also, there are numerous challenges in dealing with Turnkey providers:

    1) Terrible renovation work - we've taken over many properties that investors bought turnkey and they were shocked to learn the true condition of their property from our TakeOver video.
    ---So, get a GREAT property inspector NOT recommended by the turnkey company to avoid bias.

    2) Misrepresenting Property Class - have seen many turnkey providers in Metro Detroit area sell OOS investors Class C properties as Class B.
    ---So, learn the neighborhoods where you plan to invest and use Google Streetview to virtually explore them.

    3) Poor Tenant Screening - they typically can't sell a property until they place a tenant. So, they have a conflict of interest in waiting for the right tenant.
    ---So, insist on them providing the rental application and supporting docs for your review. This means YOU need to learn how to evaluate a rental application!

    4) Poor Property Management - Where do you think a turnkey provider will put their best staff, on selling properties and making $5k+/transaction or on property management and making $80/month transactions?
    ---So, ask about their standard operating procedures and make sure your management contract has an easy termination clause.

    What are your options if you experience one of the above? Everyone thinks they can sue to solve the problem.

    Do you realize how much it will cost to hire an OOS attorney to sue the turnkey company?

    Unfortunately, the majority of investors that experience terrible service from turnkey companies, figure out that it's not worth spending tens of thousands of dollars suing their turnkey provider and just move on - which allows the turnkey provider to not change their ways and stay in business:(

    You should also check out this BP thread about the topic:

    https://www.biggerpockets.com/forums/88/topics/976647-turnkey-company-suggestion?highlight_post=5648876&page=1#p5648876

    [email protected]248-209-6824
    Logical Property Management4.9451 Reviews
    WebsiteView Page
    0Reply
  • Grant Anderson
    OP
    Investor · Indianapolis, IN · Member since 2010 · 117 posts · 41 votes
    3y
    Quote from @Drew Sygit:

    @Grant Anderson

    While investing via Turnkey Rentals sounds easy, you should understand that you will be paying full retail, often even more, for the properties.

    Why? The Turnkey provider is looking to maximize their profits!

    Also, there are numerous challenges in dealing with Turnkey providers:

    1) Terrible renovation work - we've taken over many properties that investors bought turnkey and they were shocked to learn the true condition of their property from our TakeOver video.
    ---So, get a GREAT property inspector NOT recommended by the turnkey company to avoid bias.

    2) Misrepresenting Property Class - have seen many turnkey providers in Metro Detroit area sell OOS investors Class C properties as Class B.
    ---So, learn the neighborhoods where you plan to invest and use Google Streetview to virtually explore them.

    3) Poor Tenant Screening - they typically can't sell a property until they place a tenant. So, they have a conflict of interest in waiting for the right tenant.
    ---So, insist on them providing the rental application and supporting docs for your review. This means YOU need to learn how to evaluate a rental application!

    4) Poor Property Management - Where do you think a turnkey provider will put their best staff, on selling properties and making $5k+/transaction or on property management and making $80/month transactions?
    ---So, ask about their standard operating procedures and make sure your management contract has an easy termination clause.

    What are your options if you experience one of the above? Everyone thinks they can sue to solve the problem.

    Do you realize how much it will cost to hire an OOS attorney to sue the turnkey company?

    Unfortunately, the majority of investors that experience terrible service from turnkey companies, figure out that it's not worth spending tens of thousands of dollars suing their turnkey provider and just move on - which allows the turnkey provider to not change their ways and stay in business:(

    You should also check out this BP thread about the topic:

    https://www.biggerpockets.com/forums/88/topics/976647-turnkey-company-suggestion?highlight_post=5648876&page=1#p5648876


     Thanks for your opinion.

    0Reply
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