Buy Turnkey VS Buy and Hold & finding my own property manager

[Jack Smith]

Hi,

I'm looking to invest in Memphis and was wondering what are the pros and cons of buying a property with a Turnkey Company VS just picking any property on the MLS and buy it at retail and hiring my own property management company.

My understanding is turnkey companies sell the properties at retail anyway, sometimes higher than the retail price.

What are your thoughts?

Thanks for any input!

[James Wachob]

@Jack Smith The key is to find a great team! Ideally you would find a company that has everything under one roof. Acquisitions team, renovation crews (fully licensed and insured), Property Management, and a Real Estate Investment Brokerage in case you ever decide to sell.

By teaming up with a solid firm you can mitigate your risk and have some "boots on the ground" that have your best interest in mind.