New OOS Investor looking for Thrustworthy Turnkey companies

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New OOS Investor looking for Thrustworthy Turnkey companies

Mo Takhim
Rental Property Investor · Montville NJ · Member since 2019 · 26 posts · 8 votes

Hi Everyone!

I want to thank everyone on BP for being so helpful and supportive of new Investors like me. This side has an incredible amount of wealth of knowledge which truly invaluable! 

I am from NJ and looking to find OOS investment properties since the NJ/NY market is just saturated and incredibly expensive for new investors. After doing a lot f research, I've narrowed down my interest in AL, IN, MO, NC, OH, SC and FL as my primary markets. I've also researched the ideal zip codes for each of these markets. My primary focus is on cash flow first but wouldn't mind of course the appreciation as a added benefit. As you will probably image, my main concern is who to work with if I am OOS on those markets.

I would really appreciate everyone's insight and experiences with these areas and turnkey companies (or your own recommendations)

Looking forward to connect with amazing people and getting some constructive feedback that can help me launch my investments OOS.

Again, thank you for much in advance for your input and feedback and wish everyone success on their path to passive income and financial freedom!

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Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
7y

@Mo Takhim. Smartland in Cleveland, spartan in Alabama, memphis turnkey,memphis invest, Little Rock turnkey, Ohio cash flow.

This should get you started.

9Reply
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  • Ronan DonnellyPro Member
    Investor · New York City, NY · Member since 2012 · 332 posts · 385 votes
    7y

    Hi @Mo Takhim,

    As an investor it always makes sense to invest where the numbers make sense. Since this likely isn't NY or NJ one of the skills that you are rightly focusing on is to screen and zero in on the best markets for your investment goals. One of the key skills that you will need to develop as a remote investor is to build a trusted team in the market that you wish to invest in. Bigger Pockets is an invaluable resource with numerous articles on how to perform due diligence on third parties. Good luck and I look forward to connecting with you directly in NY.

    Ronan

    [email protected]
    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Mo Takhim:

    Hi Everyone!

    I want to thank everyone on BP for being so helpful and supportive of new Investors like me. This side has an incredible amount of wealth of knowledge which truly invaluable! 

    I am from NJ and looking to find OOS investment properties since the NJ/NY market is just saturated and incredibly expensive for new investors. After doing a lot f research, I've narrowed down my interest in AL, IN, MO, NC, OH, SC and FL as my primary markets. I've also researched the ideal zip codes for each of these markets. My primary focus is on cash flow first but wouldn't mind of course the appreciation as a added benefit. As you will probably image, my main concern is who to work with if I am OOS on those markets.

    I would really appreciate everyone's insight and experiences with these areas and turnkey companies (or your own recommendations)

    Looking forward to connect with amazing people and getting some constructive feedback that can help me launch my investments OOS.

    Again, thank you for much in advance for your input and feedback and wish everyone success on their path to passive income and financial freedom!

     Most important things to do when you are buying out of state is to get a 3rd party inspection on the property along with an appraisal. That really eliminates 90% of the risk involved in out of state investing going south. It's pretty smooth so long as you don't over pay for a dud.

    2Reply
  • Caleb Heimsoth
    Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    7y

    @Mo Takhim. Smartland in Cleveland, spartan in Alabama, memphis turnkey,memphis invest, Little Rock turnkey, Ohio cash flow.

    This should get you started.

    9Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    7y
    Originally posted by @Caleb Heimsoth:

    @Mo Takhim. Smartland in Cleveland, spartan in Alabama, memphis turnkey,memphis invest, Little Rock turnkey, Ohio cash flow.

    This should get you started.

    Thanks for the mention Caleb.

    Hi Mo,

    If you reach out to us via our website I'm sure that my team will be happy to assist.

    Thanks again and speak soon

    Podcast Guest on Show #89
    Oz Realty4.5369 Reviews
    WebsiteView Page
    0Reply
  • Tom Ott
    Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes
    7y
    Originally posted by @Caleb Heimsoth:

    @Mo Takhim. Smartland in Cleveland, spartan in Alabama, memphis turnkey,memphis invest, Little Rock turnkey, Ohio cash flow.

    This should get you started.

    Thanks for the shout out! Investing in a Turnkey can be a reach way to earn a nice ROI when investing OOS or if you have a regular 9-5 and don't have the time to literally pick up a new full-time job working in real estate!

    1Reply
  • Clayton MobleyPro Member
    Birmingham, AL · Member since 2014 · 875 posts · 947 votes
    7y
    Originally posted by @Caleb Heimsoth:

    @Mo Takhim. Smartland in Cleveland, spartan in Alabama, memphis turnkey,memphis invest, Little Rock turnkey, Ohio cash flow.

    This should get you started.

    Thanks @Caleb Heimsoth !  @Mo Takhim (sorry tagging feature not working today I guess) feel free to reach out any time if you have questions about the Bham market, turnkey in general, or what we do at Spartan. 

    And I 100% agree with @James Wise , getting your own inspection is one of the easiest ways to mitigate your risk. If a turnkey provider has a problem with that, you'll have a problem with them, simple as that. 

    Good luck!

    1Reply
  • Mo Takhim
    OP
    Rental Property Investor · Montville NJ · Member since 2019 · 26 posts · 8 votes
    7y

    @Caleb Heimsoth. thank you for the feedback...would be happy to chat tomorrow if you have time

    @Engelo Rumora let's chat when you are available as I have couple of markets in mind in Ohio.

    @Caleb Heimsoth thanks for the referrals..much appreciated

    1Reply
  • David Katz
    Member since 2018 · 46 posts · 31 votes
    7y

    About to close on my first home purchase from Memphis Invest and they have been awesome so far.  Highly recommended.  Yes, you pay somewhat of a premium compared to other turnkey companies, but you are getting a truly premium product in return.  There is a reason they are the gold standard in the turnkey space.  Happy to shed some light if you have any questions.

    1Reply
  • Codi Clausen
    Property Manager · Newport Beach, CA · Member since 2018 · 69 posts · 27 votes
    7y

    @Caleb Heimsoth have you worked with Memphis invest and Memphis turnkey? I have been considering moving forward with one of these fairly soon. Thanks!

    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    7y
    Originally posted by @Mo Takhim:

    @Caleb Heimsoth. thank you for the feedback...would be happy to chat tomorrow if you have time

    @Engelo Rumora let's chat when you are available as I have couple of markets in mind in Ohio.

    @Caleb Heimsoth thanks for the referrals..much appreciated

    Sure Mo,

    Please feel free to head to our website to find out more on how to get in contact with us :)

    It's in my signature below

    Thanks and have a great day

    Podcast Guest on Show #89
    Oz Realty4.5369 Reviews
    WebsiteView Page
    0Reply
  • Alyssa Dyer
    Rental Property Investor · Oklahoma City, OK · Member since 2017 · 1k+ posts · 694 votes
    7y

    @Mo Takhim Hey Mo! I'm surprised to not see OK on your list. Insulation to recession, easy entry points, solid 1% rent to value ratios. 

    I agree that it's less about the market and more about who you work with. I know people that disagree that you can consistently see 8% cap rates here when I've consistently seen OOS investors scoop those deals up fairly easily! 

    If you've moved forward in any of those markets, how's it going there?! 

    0Reply
  • Colin Douthit
    Property Manager · Kansas City · Member since 2019 · 50 posts · 29 votes
    7y

    @Mo Takhim I am from the KC market and help to source properties for OOS Investors such as yourself and can provide a hybrid turnkey approach for you.  We can source, verify numbers, rehab, and manage.

    Message me if you would like to set up a time to chat about it.

    0Reply
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