Turnkey property rental forms.

5 Replies

hey guys it has been a long time since I have been on. And it has been the time to decide to take action. I am looking into a turnkey property outside of Cali little to no money down. I was just wondering what approval goes well what forms should I have signed between me and the seller just to be safe and make sure all goes well. And once offer is accepted what would be the next step? 

I dont know of anyone offering little to no money down from a TK provider.  That is something of days gone by.  

I would try to identify specific turnkey providers and work with them to answer these questions. They will most likely have similar steps for you to take, but each will have it's own nuances. The forms you may be asked to complete will include some sort of purchase agreement, property management agreement, and some version of the HUD at purchase. If you are working with a reputable provider, they usually have this all ironed out to the point where safety is not your major concern - their reputation is at stake if they try to swindle you. What's more important is understanding exactly how they operate and carefully analyzing the numbers on whatever property you decide to buy. There are many turnkey providers, but if you've spent some time on the forums, the good ones are pretty easy to spot.

Well she directed me to a lender. Or a person that can possibly approve me for an unsecured line of credit. Property is out of state so it is a lot cheaper. It is a duplex. Are there any websites for me to go to to determine comps? And make sure the analysis provided to me is legit? Thanks again guys

@Raden Mantuano

 How are you purchasing turnkey properties with little or no down? Certainly not from a turnkey provider?  

Larry I apologize the information was totally. I am new and im am taking action and learning along the way.. I guess my main issue now is trying to get financed or finding a way.. i have a pretty fair credit score but not good enough for the lenders they have provided.  is there a solution or other ways? i will continue to do my homework on this. 

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