Out of State Property Management
I live in California which is probably not the greatest place to do real estate investments. Three thing all over the state is sky high in price.
There's an experience I had. I work as an airport shuttle driver. I picked up an older couple in Orange County California that just came back from Memphis Tennessee to see one of their properties for the first time. All together they own 5 properties. The raved about the company they work with. Apparently they find the property for you, rehab it, find the tenant for you and collect on the property management. That's collecting the rent paying the mortgage and giving you what's left for cash flow. I'm not naming the company because I don't want to look like I'm endorsing them.
I just want to know if other people have done this and what has been their experience.
Most Popular Reply
Couldn't agree with @Peter Mckernan more! In there Memphis area there are a ton of turnkey providers to choose from and what is most important no matter where you invest is being able to trust those who will be handling your investment. Turnkey investing is not for everyone but those who get hooked up with the right companies and take an active role in managing the property managers can usually find success!