Does anyone have experience with Turn Key Providers? Is there anyone you have had experience with? These two names keep coming up in my research.
GC Realty and Development
Any experience? Anyone else you would recommend?
[Update] I found a bunch of recent not so flattering reviews of Elite Invest on Turnkey-Reivews. I'll be skippng them.
Are you looking at national turnkey providers or a specific area?
@Steven Dreyer I'm open. I'm new to this so not closing off any areas at this time. Do you have any recommendations?
A few are mentioned on the site such as Morris invest and smart land investing. I have been looking as well. In the search bar type in turnkey and a bunch of articles and forums pop up. You'll be able to weed out bad ones then.
Thanks @Steven Dreyer . I spent a few hours looking at all of the different companies. The most impressive I have been able to find is Memphis Invest which invests in Memphis, Dallas and Houston. They seem very sharp.
@David Powell yeah I was looking at Memphis invest as well. I'm deciding to go with one from my home state. It all comes down to due diligence when checking these out.
Who did you decide to go with @Steven Dreyer ? Was there anything that you found that made you not want to go with Memphis Invest?
I just closed on a turnkey property. It's in Memphis, but wasn't with Memphis invest. Feel free to PM me if you want more specifics. Overall it was a pretty good experience
Someone send me a link to this thread. Worth a read if you are thinking about Turn Keys:
Home Invest has properties in the Midwest. And QC Props is another one ran by an all star investor. I used to work with their companies a while back and have purchased several along with my family members in Milwaukee, WI and Davenport Iowa. I suggest you do your own due diligence, but I can tell you that they are honest and I get really good returns off the properties I purchased through their companies. If you are interested in more info I would be happy to pass on a name to you so you can get the skinny on what they are up to now since I am out of the selling of those properties loop.
Worked with turnkey in GA, FL, TX, MO, NC... you can PM me for more info.
Just don't buy rentals that rent for less than 800 a month because
1) can't leverage them with out paying a huge percentage of transaction costs
2) many lends won't give you a loan that small
3) if you aren't leveraging you are missing out on the reason we invest in real estate
4) I have found rents under 800 attract the seediest tenants
5) as much as I don't like investing for appreciation since I am more for cashflow these homes are in the worst part of town and never appreciate nor can they be sold to a retail buyer
6) if you are going to do a BRRRR strategy then you are using up the most value able resource with is time.
Reach out to me and I can help you.
Hi David! I started buying turnkeys in 2011 and have worked with them ever since. There's a lot of really good ones who aren't named on here a lot. A lot of it will depend on what market you want to buy in, or if you're open for markets you can always decide that based on which provider you like best.
Happy to share my favorites if you want to message me anytime.
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