What do you do for Turnkey Due Diligence?

[Ali Boone]

What does everyone do for their due diligence on Turnkeys? Going to try to compile a thorough list for turnkey investors to use! Everyone always asks, so let's give them something to use.

[Account Closed]

Personally, I don't think they're a good investment at all.  

But, I'd say that there is no such thing as a shortcut regarding knowing all of the landlord-tenant laws for the area, and doing thorough research on the market, prices, types of tenants, turnover, rent vacancy rate, on and on.

I think people who look for turnkey are usually people who don't want to do all of the above and therefore they are ripe for the picking by con artists in the business, especially by unscrupulous property management firms.

Not saying all property managers are ripoff artists, but there is a large percentage that take advantage of ignorant investors.

Buyer beware and all that.  People really need to know everything about their business and the market and laws before they know what they're buying is a good investment.