Looking for trustworthy turnkey companies
My husband discovered the Morris investment you-tube videos and has been excited at the prospect of investing in a turnkey operation in Michigan. He already set up two llc-s in anticipation to do business with Morris invest. However, after doing research that led me to this forum, I realize that company is probably not the best idea (I'm feeling like we narrowly dodged a bullet) I'm looking for legitimate and trustworthy turnkey companies that are in Michigan that any one can recommend that I can share with husband. Any suggestions?
Originally posted by @Honi Kalinowski:
My husband discovered the Morris investment you-tube videos and has been excited at the prospect of investing in a turnkey operation in Michigan. He already set up two llc-s in anticipation to do business with Morris invest. However, after doing research that led me to this forum, I realize that company is probably not the best idea (I'm feeling like we narrowly dodged a bullet) I'm looking for legitimate and trustworthy turnkey companies that are in Michigan that any one can recommend that I can share with husband. Any suggestions?
It can be difficult. Some companies/agents just throw the word Turnkey around to describe a property they have listed on the MLS. You want to find a company that owns, renovates, and manages the property all in house!
Try looking at:
What to Ask When Working With a Turnkey Provider
and
How to Find the Right Turnkey Real Estate Investment Company for You
Hello @Honi Kalinowski,
You're smart to ask around in the forums. In the end, you'll want to find a company that is truly turnkey...
1. They source the property
2. They rehab the property to excellent standards - probably offer a warranty on their work.
3. The properties are inspected, and any outstanding inspection items are cured.
4. The properties are tenanted, cash flowing, and professionally managed by the same people.
Even just using the above criteria, you'll weed out 90% of the ones claiming to be "turnkey."
PM me up if you have any questions about the Indy market.
Good luck!
Yes, you did indeed dodge that Morris Invest bullet. That particular company is explosively corrupt and fraudulent, as you probably read.
I don't have any recommendations for Michigan, but do suggest whatever market you are considering that you visit the market and meet with any provider you are considering. Learn about their operations, their property management, their rehabs and the neighborhoods they invest in.
@Aaron Nihiser Scroll up to the top. Click on the magnifying glass and do a search in these forums on "Morris Invest". Then take an hour (or several) and read the nightmares.
@Tom Ott @Jeff Schechter, @Larry F., @Jay Hinrichs, Thank you for your responses! They were very helpful and we continue to learn through this forum because of input that you folks take the time to share. We are grateful!
Jay, I tried responding to your response to my pm but ran in to a glitch (it wouldn't allow me to type anything - probably used error, as I couldn't even figure out how to link previous members correctly in this post) so I hope you don't mind a shout out in this thread.
@Honi Kalinowski In order to actually get a linked name, you start typing @ followed by the first letters of the name of someone in the thread or that you are colleagues with, until a drop down menu list of names appears. Then select the correct name. This may not work on the phone app.
