Question for Turn Key property buyers in the midwest

[Nathan Brooks]

I am working on putting together more and more turn key properties for sale in our area. We have a great ROI and solid rental neighborhoods. The thing I am not quite clear on is how you are finding your deals when you buy (you, who is buying turn key properties), and what you are looking for in your management team?

I'd love any input, lessons learned, things you love about your management, you don't like, and how you are deciding on the price you are willing to pay on the investments.  I am NOT trying to garner business here, just looking for real insight from those of you either selling turn key deals, or who are actively buying/holding them.

Thanks! 

[Curt Davis]

You are going to find that if you have 100 investors lined up some of them are mostly concerned about the cash flow, some ROI, price range, management company, etc....

As a turnkey provider myself the 3 things ( in no particular order ) I see that are desired are cash flow, price range and management company.  Sometimes we go through times when investors are only looking for cheap homes say $60k on average and then 2 months later they want $90k homes. 

I truly feel that the management company is the most important element along with the quality of rehab.  It doesnt matter what your figures look like on paper, if the home doesnt stay rented and there are tons or repairs then that hurts everyone.  

I would be more interested in slightly less cash flow and ROI if I can get a quality renovation with tenants who stay longer then 1yr. The turnover and make ready repairs will kill an investor considering when you truly look at what a management company total charges for a 1yr example is around 18%-20% of your yearly rent.

Good luck!!