Turnkey success

[Kevin Byrne]

I have recently bought one single family residence from a turnkey provider in Indianapolis and am looking to buy another one possibly in Memphis or elsewhere before the end of this year. I was hoping to hear from investors that have bought primarily from turnkey providers and have a decent size portfolio. Basically, I am looking for proof of concept. I would really like to speak with someone who has been successful investing primarily with turnkey providers. So, is it possible to be successful buying only turnkey properties?

[Steve Endress]

@Lane Kawaoka Yes, SFR's are a bit of a pain--I've got a big bunch in four states. I also have a multifamily with a similar number of units as my SFRs and it is a different kind of pain. When people ask what I think is better and I always say 'it depends'. Half the time, I love the simplicity of MFH and hate the complexity of SFR, the other half of the time I love the returns and exit strategies and fully-amortized mortgages of SFRs and hate the risk of MFHs. So, I still think a mix is the best, however painful and imperfect that is.