Success with Turnkey and Property Management Companies?

Question

Hi all,

I'm a newbie who's barely getting his feet wet. I'm in my mid-20s. Property two is currently on it's way. I used a turnkey provider who does the managing side of things as well. Both properties are out of state in the same area.

Even with the markup and fees, I'm still cashflowing a little over 100 dollars on each property, with worst case scenarios factored in.

How many of you have invested heavily through turnkey + property managers?I'm wondering if this is a viable long term strategy. I have a full-time job, and I do like the "passiveness" this route allows.

John Thedford · Answer

Finding good turnkeys with good margins and good management is probably not easy. @Jay Hinrichs has a site  called turnkeyreviews.com. It is an awesome site. Check it out and reach out to Jay.

Bryson Pennock · Answer

Turnkey properties is one of the best ways to receive passive income. You should be making more than $100 a month though, depending on what you put down. I pay cash for my properties and I receive $600+ a month after taxes and fees.

Jonathan Tea · Answer

I think you're right so far. I went with a great turnkey and management company and the margins aren't the greatest. Thanks for the recommendation John. I used Jay's website to figure out which company to work with. :)

Jonathan Tea · Answer

I should say that I'm pretty leveraged. I just updated the main post.

Also, another question for turnkey providers, what's the incentive for a turnkey provider to sell these properties to investors if they're good investments, why not keep it for themselves?

Success with Turnkey and Property Management Companies?

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