Another Turn Key Post (sorry!) But..

6 Replies

I've been sort of off the radar lately. I've been busy with my own personal life and still just studying real estate and what I'm going to do. And I've actually been getting to the point where I'm getting a little discouraged and nervous. But it'll all go away soon. I just wanted to ask this so my head could be in the game a bit more. With any turn key investors, how long have you been investing specifically with turn key companies? Is it something you can see yourself doing your whole life? Most of those I've talked to about this say it's a good way to get the first few deals under your belt. And I understand that completely. But what about after that? Do any of you have 50 turn key properties? 70? 100? Especially when I live in a place like CA. I just think I'd rather stick to turn key until I can save for a down payment on a large apartment complex. But again, how long have some of you been doing it? It seems great. And I'm not trying to debate that it's "easy". Just after everything I've read I still find it appealing. I thought it'd be fun to hear some people's stories on this. Since there's really right or wrong answer. More of a fun topic id like to discuss. Have a great day everyone :)

@Account Closed A turnkey investment only works if you have a lot of disposable income (to pay for the down payment or in full) and a great property management company. And of course, the assumption is that the company you're buying from did a great job w/ the initial rehab so that won't be an issue for you, the new turnkey owner. For the time being at least I don't really have any interest in buying turnkey. It seems like you do. Are you planning on saving up to buy a turnkey? Have you found a good turnkey company that you trust?

I live in CA. So it's a heck of lot cheaper investing in turn key properties than down here in the South Bay. I've also seen some turn key properties that require only a 10k down payment or maybe 30-50k if I want a multi family. And yeah I have a few providers I'm interested in doing deals with and I've talked to quite a lot of people who've dealt with them. I'm just wondering how people who've been investing in turn key are doing. So if anyone else reads this that's a seasoned turn key investor, comment below and by all means share your experiences. Curious about how many turn keys people own.

Please any investors who are seasoned in this area, let me know how it's going. I don't plan on moving anywhere so I'd like to know how investing in turn key has gone in the long run. Once I have enough saved up I'll probably put my money as a down payment on an apartment complex like I mentioned. So I don't plan on investing in this area for life. But anyone feel free to share. :)

@Account Closed I have been buying real estate several years now. I don't have a lot but it takes time to build a portfolio in RE. From scratch. I dunno Wat you call how I'm doing it but it's turnkey SORT of. I set up a network of people in a city in Colorado. I had 1 rental and used a PM as I live in alaska. From that I used my loan person to expand to another city. Then the pm found me 2 more rentals in the first city. Last spring I started looking in yet another city in Colorado. I called realtors and PM's and found a duplex. It closes this Thursday. The only property I have bought off the MLS is the one the loan officer found. I buy rentals that have tennants already. There hasn't been any hitches yet but I'm cautious what and where I buy I don't use a turnkey company per say but I create my own network of pple. THAT said I have been looking at some regular turn key company's. It appears to Be a lot faster. I have picked up some equity at closing in the properties I have bought using my method. I don't see much equity left for the buyer at closing when buying from a turnkey company. Good luck. RR

Originally posted by @Ralph R. :

@Account Closed I have been buying real estate several years now. I don't have a lot but it takes time to build a portfolio in RE. From scratch. I dunno Wat you call how I'm doing it but it's turnkey SORT of. I set up a network of people in a city in Colorado. I had 1 rental and used a PM as I live in alaska. From that I used my loan person to expand to another city. Then the pm found me 2 more rentals in the first city. Last spring I started looking in yet another city in Colorado. I called realtors and PM's and found a duplex. It closes this Thursday. The only property I have bought off the MLS is the one the loan officer found. I buy rentals that have tennants already. There hasn't been any hitches yet but I'm cautious what and where I buy I don't use a turnkey company per say but I create my own network of pple. THAT said I have been looking at some regular turn key company's. It appears to Be a lot faster. I have picked up some equity at closing in the properties I have bought using my method. I don't see much equity left for the buyer at closing when buying from a turnkey company. Good luck. RR

 That sounds like a great system, and I never thought of networking with PMs to find properties. Great idea. I'm hoping to get out to Bethel again this year. We were there winter before last, and caught over 100 pike in 4 hours! Our group had never seen ice-fishing like that before. You're in a special place. 

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