Turnkey Company Suggestion
Member since 2018 · 3 posts · 4 votes
Turnkey Company Suggestion
Most Popular Reply
Specialist · Member since 2021 · 37 posts · 211 votes
5yThere has been quite a bit of discussion on this topic in the forums. I've posted some threads below that I think will help in answering your question. Please feel free to reach out at any point with any questions you have!
https://www.biggerpockets.com/users/ZacharyCole/references
https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster
https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review
https://www.biggerpockets.com/co/RentToRetirement
https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences
https://www.biggerpockets.com/forums/12/topics/533693-anyone-worked-with-renttoretirement-turnkey
https://www.biggerpockets.com/forums/92/topics/581730-rent-to-retirement-zach
9 Replies
- Rental Property Investor · Gilbert, AZ · Member since 2020 · 210 posts · 163 votes5y
@Darryl Davis I did some initial research about a year ago on this topic. A couple ones that I came across are Rent To Retirement which you'll find a lot of reviews about with these BP forums. I also had an initial call with them, but haven't purchased anything with them yet. Another one was Memphis Investment Properties. You'll find a lot of mixed reviews on this topic, so make sure you vet the company well beforehand.
- Specialist · Member since 2021 · 37 posts · 211 votes5y
There has been quite a bit of discussion on this topic in the forums. I've posted some threads below that I think will help in answering your question. Please feel free to reach out at any point with any questions you have!
https://www.biggerpockets.com/users/ZacharyCole/references
https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster
https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review
https://www.biggerpockets.com/co/RentToRetirement
https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences
https://www.biggerpockets.com/forums/12/topics/533693-anyone-worked-with-renttoretirement-turnkey
https://www.biggerpockets.com/forums/92/topics/581730-rent-to-retirement-zach
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes5y
Welcome aboard Darryl. "turnkey" companies are basically just a combination of in house investor realtors and property managers working in the "turnkey" markets. Think markets like
- Cleveland, Ohio
- Cincinnati, Ohio
- Dayton, Ohio
- Toledo, Ohio
- Youngstown, Ohio
- Cincinnati, Ohio
- Memphis, Tennessee
- Saint Louis, Missouri
- Indianapolis, Indiana
- Detroit, Michigan
- Erie, Pennsylvania
- Louisville, Kentucky
- Milwaukee, Wisconsin
- Jackson, Mississippi
You can win or loose in any of these markets. You can win or lose buying from a "turnkey" company or buying from a "property management" company. It's really about what and how you buy in each of the markets vs which markets you buy into and from whom. Don't overcomplicate it. A house is a house is a house. Do your due diligence. Get an inspection. Get an appraisal etc...
- 5yChris ClothierBusiness MemberRental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
Originally posted by @Darryl Davis:
Hey gang. I've heard about turnkey companies (properties that a company owns, is already rented, and ready to sell with tenants in it) but am not familiar with any names of companies. Does anyone have recommendations, and if you had personal dealings with them that were positive or negative.
Thanks in advance for your help.
Daryl,
I hate that you have not received more feedback, but some Turnkey threads get a ton of exposure and others get none for some reason. Here are a few companies to review from different parts of the country. Also, trying to define how and when the word turnkey is used here on BP is like trying to get a picture of Bigfoot.
It is a great marketing word, but has really lost its meaning. You have to remember that you are a passive investor. You have all of the same responsibilities you would have as an active investor when it comes to due diligence and details. The difference is you have to manage the investment companies you choose to work with and not the property itself. I disagree with @James w when he says your biggest concern is what you buy and how you buy it. The reality is that a property properly renovated to a high level and eliminating deferred maintenance that is also managed at a very professional level, can and will outperform a marginally renovated property with marginally good management. Who you do business with matters more than any other factor when you are a passive investor. So spend time getting know companies, asking for references and seeking out real outcomes. Lastly, get off of BP for some of those references. Unfortunately, BP is full of people paid to give referrals. You have to be on for a while to see it and understand the marketing side going on in the forums, but once you do, you realize that even forum referrals are questionable. You have to connect outside of BP forums for at least some of your references.
Memphis Turnkey - Memphis, Little Rock
Mid South homebuyers - Memphis
Storehouse 3:10 - Milwaukee I think
Bridge Turnkey - Kansas City
TPG - Kansas City
Spartan - Alabama
Martel - Ohio, Memphis, Indianapolis(?)
Boise Turnkey - Idaho
Jacksonville Wealth Builders - Florida
Pinnacle Investment Properties - Indianapolis, Kansas City
I would be remiss if I didn't mention our company, but we are a turnkey provider across multiple markets as well. I am not sure how much volume or even availability each of these companies has and I am not personally vouching for them. I am simply aware of them and have not heard an alarming amount of negative about any of them. This is a list I would start with to become familiar with what you like or don't like. There are other companies as well, but the other issue you will run into is companies that promote themselves as Turnkey providers when in fact they either represent other companies properties or they introduce you to actual providers for a fee. They don't actual purchase, renovated, manage and sell. So, again be careful and get started on your due diligence! This should be be a good enough list to get started researching and talking with.@James Wiseundefined
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes5y
Originally posted by @Chris Clothier:
Originally posted by @Darryl Davis:
Hey gang. I've heard about turnkey companies (properties that a company owns, is already rented, and ready to sell with tenants in it) but am not familiar with any names of companies. Does anyone have recommendations, and if you had personal dealings with them that were positive or negative.
Thanks in advance for your help.
Daryl,
I hate that you have not received more feedback, but some Turnkey threads get a ton of exposure and others get none for some reason. Here are a few companies to review from different parts of the country. Also, trying to define how and when the word turnkey is used here on BP is like trying to get a picture of Bigfoot.
It is a great marketing word, but has really lost its meaning. You have to remember that you are a passive investor. You have all of the same responsibilities you would have as an active investor when it comes to due diligence and details. The difference is you have to manage the investment companies you choose to work with and not the property itself. I disagree with @James w when he says your biggest concern is what you buy and how you buy it. The reality is that a property properly renovated to a high level and eliminating deferred maintenance that is also managed at a very professional level, can and will outperform a marginally renovated property with marginally good management. Who you do business with matters more than any other factor when you are a passive investor. So spend time getting know companies, asking for references and seeking out real outcomes. Lastly, get off of BP for some of those references. Unfortunately, BP is full of people paid to give referrals. You have to be on for a while to see it and understand the marketing side going on in the forums, but once you do, you realize that even forum referrals are questionable. You have to connect outside of BP forums for at least some of your references.
Memphis Turnkey - Memphis, Little Rock
Mid South homebuyers - Memphis
Storehouse 3:10 - Milwaukee I think
Bridge Turnkey - Kansas City
TPG - Kansas City
Spartan - Alabama
Martel - Ohio, Memphis, Indianapolis(?)
Boise Turnkey - Idaho
Jacksonville Wealth Builders - Florida
Pinnacle Investment Properties - Indianapolis, Kansas City
I would be remiss if I didn't mention our company, but we are a turnkey provider across multiple markets as well. I am not sure how much volume or even availability each of these companies has and I am not personally vouching for them. I am simply aware of them and have not heard an alarming amount of negative about any of them. This is a list I would start with to become familiar with what you like or don't like. There are other companies as well, but the other issue you will run into is companies that promote themselves as Turnkey providers when in fact they either represent other companies properties or they introduce you to actual providers for a fee. They don't actual purchase, renovated, manage and sell. So, again be careful and get started on your due diligence! This should be be a good enough list to get started researching and talking with.@James Wiseundefined
I'd say our viewpoints align more than they don't in regards to my take on this topic. You said that a property renovated to a high level would outperform one renovated to a marginal level. I agree with that statement.
If one learns through due diligence that a property has been renovated to a high level it's fairly irrelevant whom did said renovation. What is most important is the investor finding out what the actual condition of said property is. And of course the same applies for the importance of finding out through due diligence that the property was renovated to a marginal level.
- 5yJonathan PavkovBusiness MemberColumbus, OH · Member since 2021 · 201 posts · 166 votes
Originally posted by @Darryl Davis:
Hey gang. I've heard about turnkey companies (properties that a company owns, is already rented, and ready to sell with tenants in it) but am not familiar with any names of companies. Does anyone have recommendations, and if you had personal dealings with them that were positive or negative.
Thanks in advance for your help.
I recommend you get your core four, usually who all work well together and can assist. You will need to get a local, rockstar Realtor, contractor, lender, and property manager.
I'm a Columbus, OH fan. - 5yRemington LymanBusiness MemberReal Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
Originally posted by @Darryl Davis:
Hey gang. I've heard about turnkey companies (properties that a company owns, is already rented, and ready to sell with tenants in it) but am not familiar with any names of companies. Does anyone have recommendations, and if you had personal dealings with them that were positive or negative.
Thanks in advance for your help.
The city I invest in, Columbus, Ohio, does not have any turnkey companies. Instead, investors need to develop their core 4 and create the company themselves. That is what I did here.
- 2yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Quote from @Chris Clothier:
Originally posted by @Darryl Davis:
Hey gang. I've heard about turnkey companies (properties that a company owns, is already rented, and ready to sell with tenants in it) but am not familiar with any names of companies. Does anyone have recommendations, and if you had personal dealings with them that were positive or negative.
Thanks in advance for your help.
Daryl,
I hate that you have not received more feedback, but some Turnkey threads get a ton of exposure and others get none for some reason. Here are a few companies to review from different parts of the country. Also, trying to define how and when the word turnkey is used here on BP is like trying to get a picture of Bigfoot.
It is a great marketing word, but has really lost its meaning. You have to remember that you are a passive investor. You have all of the same responsibilities you would have as an active investor when it comes to due diligence and details. The difference is you have to manage the investment companies you choose to work with and not the property itself. I disagree with @James w when he says your biggest concern is what you buy and how you buy it. The reality is that a property properly renovated to a high level and eliminating deferred maintenance that is also managed at a very professional level, can and will outperform a marginally renovated property with marginally good management. Who you do business with matters more than any other factor when you are a passive investor. So spend time getting know companies, asking for references and seeking out real outcomes. Lastly, get off of BP for some of those references. Unfortunately, BP is full of people paid to give referrals. You have to be on for a while to see it and understand the marketing side going on in the forums, but once you do, you realize that even forum referrals are questionable. You have to connect outside of BP forums for at least some of your references.
Memphis Turnkey - Memphis, Little Rock
Mid South homebuyers - Memphis
Storehouse 3:10 - Milwaukee I think
Bridge Turnkey - Kansas City
TPG - Kansas City
Spartan - Alabama
Martel - Ohio, Memphis, Indianapolis(?)
Boise Turnkey - Idaho
Jacksonville Wealth Builders - Florida
Pinnacle Investment Properties - Indianapolis, Kansas City
I would be remiss if I didn't mention our company, but we are a turnkey provider across multiple markets as well. I am not sure how much volume or even availability each of these companies has and I am not personally vouching for them. I am simply aware of them and have not heard an alarming amount of negative about any of them. This is a list I would start with to become familiar with what you like or don't like. There are other companies as well, but the other issue you will run into is companies that promote themselves as Turnkey providers when in fact they either represent other companies properties or they introduce you to actual providers for a fee. They don't actual purchase, renovated, manage and sell. So, again be careful and get started on your due diligence! This should be be a good enough list to get started researching and talking with.@James Wiseundefined
You hurt my heart mate,
You didn't mention your favorite Aussie from Ohio haha
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