Turnkey Companies in Philly?

Question

Are there turnkey companies in Philadelphia?

So I grew up in Philly but haven't lived there since I graduated college. I visit a few times a year to see family and friends.

I'd love to get out of my own market, and maybe have a small tax deduction whenever I visit. I'm not yet at the BRRR-at-a-distance point just yet.

Any recommendations?

Jason Homa · Answer

I'm doing my first deal with TCS investments in Philly which sells distressed properties, rehabs them and offers property management.

Irfan Raza · Answer

When I hear, "we will add that in for free" I now know that means something is not right? How could some possibly build a full unit, I am assuming is around 800 sq foot for free?  There is no way that they have that much margin to play with from the beginning. I think this seems like another case of the contractor having good intentions, but not having the wherewithal to finish because of improper oversight of business or not knowing their numbers. As far as delays with make-safe, MEP those things do take some time in Philly, we have lost some months battling those.

Chris Gordon · Answer

Account Closed basically, and ideally provide property management otherwise I’d have to seek that out.

Chris Gordon · Answer

Account Closed no problem, my sense from the lack of response so far and your ask for clarification is that the answer to my question is there aren’t any.

By turn key I mean companies that acquire, rehab and then sell properties to buy-and-hold investors, typically also providing property management for those properties.

Stephen Mahler · Answer

Hey Everyone, I did two brrrkey deals with TCS but they no longer provide this service. Does anyone know of any other companies like that out there?

Eric Samuels · Answer

Hey Jason I know this post is a few years old but I wanted to see how this company worked out for you. Was it worth while?

Bennett Schwartz · Answer

@Jason Homa, ya definitely a learning curve and I'm learning alot. My time and money is also tied but we'll keep moving forward. I'll keep you updated.

@Sheryl Sitman, I definitely agree with that one. I do have my mentors that I speak to but they aren't involved in the day to day. Interested to hear about what you do.

Joe Khan · Answer

Yes I agree. What services does your team offer. Please PM me.

Jason Homa · Answer

@Sheryl Sitman Well, this is one reason I started with a turnkey company. But since then I've gained much more confidence in the areas in which I'm investing, and the process. I belong to a very large REI group whose key members also invest in Philadelphia, which has been helpful. Lenders in our network also have firsthand experience there.

I've reviewed your website and am curious as to what exactly you mean by intermediary services. I would also like to know more about your contractors and construction team. I would be happy to chat sometime Monday, or whenever we can get on the same page.

Thanks.

Sheryl Sitman · Answer

@Jason Homa @Bennett Schwartz @Joe Khan Wondering if you all would agree with the idea that a remote investor or a new investor should really not be relying purely on the investor - contractor relationship, but must have a reliable, trustworthy, knowledgeable intermediary looking out for his/her interests?

Turnkey Companies in Philly?

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