Who are the best turnkey providers?

12 Replies

I am in California and new to out of state investing and looking to get started with a turnkey property for my first buy and hold property. I'm connected with Memphis Investment Properties but who are some other turnkey providers you'd recommend? I'm looking primarily in the Midwest but open to other areas. My price range for a SFH is $90k - $120k.

I don't promote turnkey.  Make sure you do your due diligence on the property, and the operator.  Who did the work?  Quality level, permits pulled, was it lipstick on a pig, etc?  

You can count on overstated pro-forma returns.  just know by how much, so you can actually make money and not buy a headache. 

Hi Paul. Thanks for your input. I’ll be sure to do my research before I jump into a deal. I mainly want to see and experience the buying process from afar before I start building my team. Turnkey for that reason makes sense to me for the first 1-2 properties. 

Hi Jacob;  Be careful  and fully investigate both the turnkey provider and the potential property(ies) you are considering.  The turnkey process can run the range from slapping some paint and cheap carpet into a poorly maintained building and dumping in on some poor unsuspecting rube to performing a high quality rehab, renting to a well qualified tenant and placing under professional property management prior to selling to an investor /client.  Be sure to engage with current clients of the turnkey provider to determine how well commitments have been honored.  Good luck!

Thank you Steve. I know someone that has done some deals with the company I am looking at. I’ll talk with him about his experience and see if it’d be worth taking the plunge. 

The turnkey company should be able to direct you to a current client who is making (and/or made) money from one of their deals over a meaningful period of time (3+ years, preferably longer).  If they can't or won't, there's a high likelihood you won't be able to make any money either.   

Hey Jacob,

I currently invest with MidSouthHomeBuyers in Memphis and they're great. However, their waitlist is approximately 10 months long so it can take awhile to build up your portfolio. I realize the risks with so called "turnkey" providers so I make sure to vet them out thoroughly prior to engaging with them. One podcaster that talks with a lot of providers and has a nice list of his approved turnkey providers is Keith Weinhold with Get Rich Education. Not to steal any thunder from BP, but GRE is another top podcast to follow if you're interested in becoming a real estate investor. Keith has an awesome list of providers that are worth looking into if you're interested. Here's a link; https://www.greturnkey.com/

Good luck!

-Jake

Originally posted by @Jacob Klostermeier :

Hey Jacob,

I currently invest with MidSouthHomeBuyers in Memphis and they're great. However, their waitlist is approximately 10 months long so it can take awhile to build up your portfolio. I realize the risks with so called "turnkey" providers so I make sure to vet them out thoroughly prior to engaging with them. One podcaster that talks with a lot of providers and has a nice list of his approved turnkey providers is Keith Weinhold with Get Rich Education. Not to steal any thunder from BP, but GRE is another top podcast to follow if you're interested in becoming a real estate investor. Keith has an awesome list of providers that are worth looking into if you're interested. Here's a link; https://www.greturnkey.com/

Good luck!

-Jake

Is GRE turnkey a marketing company  ???  as well as education company ?   Just curious

 

GRE Turnkey is not a marketing company.  It's just Keith's webpage containing turnkey providers that he's worked with personally and would recommend to other investors.  


-Jake  

And Jacob - I do invest in my own backyard as well.  I currently owner-occupy one side of my duplex in Anacortes, WA and rent the other side out.  It's a pricy market here so we're going the house hack route with owner-occupy financing.  Once we've finished our rehabs on the duplex we plan on rolling into another multifamily property (or single family with some meat on the bone so to speak) utilizing owner-occupy financing again.