Turnkey investment companies

[David Mills]

Just learned about turnkey investment companies like Roofstock. I was curious if anyone has worked with them; Any horror stories or is it a legit way to invest? I ask because it sounds like it could be a good option for out-of-state rental property investing.

[Caroline C.]

@David Mills 

At the end of the day, Roofstock and other TK companies are shortcuts to buying and renovating properties. It does not eliminate the need to do your own due diligence - inspection, appraisal, etc. It is really important that you visit any market you are interested in, look at some sample properties and streets firsthand, and do a deep due diligence on the property management company, because it is their ability to put a good tenant in place and collect rent that makes or breaks your investment, and there are no guarantees.

Shortcuts can be helpful, and a big time saver, but you have to be very careful when doing so.

You'll find plenty of info on them if you search the forums...

Good luck!