Seeking Turnkey Providers

[Wilson Cheung]

Is there a place on BP Forums where there a list of turnkey providers?  I looked through the "Browse Forums" but could not find it.  Instead of randomly Googling it, I'd rather rely on the BP community.

[Clayton Mobley]

@Wilson Cheung I'll second @Jeff Wallenius' recommendation for turnkey-reviews (sorry Jeff, every post I visit I'm just your chorus line ;)  While the site is not comprehensive, it's run by some very knowledgable people and provides great, unbiased info.

It sounds like the issue you're having is not just that you don't know what provider to go with, but which market to invest in, which can be pretty overwhelming. While many people would say to focus on market and then find a company you like in that market, I actually recommend the opposite. In turnkey, you're entrusting every aspect of your investment to someone else, so who that someone is should be your No.1 priority. There are good turnkey investments all over the country, so I think it's easier to narrow the field of trustworthy TK companies, rather than good markets, as the former is a much smaller group to begin with.

You can find a whole slew of threads on BP reviewing different Tk companies, or you can start your own if you find a company you like the look of but want some feedback from other investors. Also, don't be afraid to reach out to investors or providers privately on BP to ask questions. You'll find both groups can be more candid via PM and you can ask the questions you really need answered, directly to the person best able to answer them.

Lastly, as Jeff pointed out, there are plenty of charlatans in the TK space, so due diligence is key. Turnkey can be an amazing investment, but it isn't completely passive - you should be putting in serious work long before you ever reach for your check book. You should be asking a TON of specific questions and expecting thorough, data-backed answers. I talk about this a lot here, so I won't blah blah any more. Instead, here's a link to a post I wrote awhile back for another TK newbie. Hopefully it will be helpful to you in deciding which questions you need to ask:

https://www.biggerpockets.com/forums/55/topics/361999-new-investor-from-glendale-ca

Best of luck!

Clayton