Turnkey Property Companies

[Victoria Knutson]

I'm looking at turnkey properties in Kansas City, MO and Cleveland, OH and would like to hear others experiences (good and bad) with different turnkey companies that serve Kansas, Missouri and/or Ohio.

[Mike D'Arrigo]

@Victoria Knutson when evaluating turn key companies, here are some key things to look for and avoid.

*Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)
*Don't allow for your own independent property inspection
*Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors)
*Require you to pay for any renovation upfront
*Sell only in cheap. low end neighborhoods
*Don't accurately represent the neighborhood/property classification
*Don't have consistent rehab standards for all properties
*Don't provide a scope of work for the property
*Can't provide references of repeat investors
*Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)
*Don't allow for your own independent property inspection
*Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors)
*Require you to pay for any renovation upfront
*Sell only in cheap. low end neighborhoods
*Don't accurately represent the neighborhood/property classification
*Don't have consistent rehab standards for all properties
*Don't provide a scope of work for the property
*Can't provide references of repeat investors