Hi, I am interested in finding the best turn key providers in Memphis TN, I will appreciate any reviews from the Bigger Pocket community that had experience buying turn key SFH in this market. Thanks!
Updated over 3 years ago
Memphis* sorry for the typo.
I can also refer you to an investor friendly broker and a prop mgt co. You don’t need to go turnkey if you are scaling to five to ten rentals
If one or two properties then I definitely recommend turnkey
I’m interested I learning about buying in bulk 5-10 and scale and skipping the turkey, I’ve been looking at turnkey but am afraid I’d spend all my capital and be stuck building up capital again.
Thanks for your reply @ AJ Singh, I'm a new investor and still learning the trade, Do you mean buy a SHF that was not renovated but already with a tenant in place, so the cost of the house is less and can afford more houses?
I would like to start building a portfolio of 20+ SFH and still building a strategy to do so, I appreciate if you can share your contact in Memphis, Thanks!
@Roland Brown - Network with fellow investors and spend time understanding the market. Don't make the following mistake.
@Mario Palacios and @Roland Brown - I truly think that OOS should look at the deal rather than the TK provider. As long as they don't lock you into a PM contract, there should be no difference than buying on market. Some might have portfolios for sale. I'm sure you will have no problem finding an agent to help you. If you want referrals, I'd be happy to send them to the ones we use.
The Memphis market is getting tighter but there is still plenty over here.
@Vivek Khoche , thanks for your word of warning, I’m not sure what you are showing in the screen shot. I do understand The need to mean spend time networking or studying the market. But at some point it’s just spending time if you don’t start speaking with people that have something to sell.
@Roland Brown - The screen shot shows local investor selling the property after 13 years less than what he purchased. Investor from New York paid $104K where many knowledgeable investors walked away between $67K- $71K. You are absolutely right about speaking to people but whom you speak is the key.
Good Luck investing
Norada Real Estate Investments. Call Marco Santarelli
Hey @Todd Dexheimer — Thanks for the shout-out and recommendation. I’m just coming back from our amazing two-day Investment & Property Tour in Memphis. It was awesome.