Recommended turn key rental company for 40k rentals?

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Recommended turn key rental company for 40k rentals?

George Leeman
Spring Hill, FL · Member since 2017 · 33 posts · 6 votes
I have a long time goal of owning a rental in my retirement account, but my local area has gone through the roof. Can anyone recommend a good turn key rental company that has properties for around 40,000 with decent returns?
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Curt DavisBusiness Member
Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
8y

My opinion is that you would be foolish to buy such a cheap home, especially as an out of state investor. You would statistically have a very bad experience.  I am sure there is someone out there who can sell you this but you should consider looking in the $80k range. 

Good luck

Curt Davis - KAIZEN Realty538 Reviews
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  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    8y

    My opinion is that you would be foolish to buy such a cheap home, especially as an out of state investor. You would statistically have a very bad experience.  I am sure there is someone out there who can sell you this but you should consider looking in the $80k range. 

    Good luck

    Curt Davis - KAIZEN Realty538 Reviews
    WebsiteView Page
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  • Larry Fried
    Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    8y

    First if you buy turnkey at that price you won't be able to finance it conventionally.  So, take that cash & buy a couple of turnkey's at between $80k and $100k with 20% down (make sure you have cash for reserves and closing costs as well) and you will be doing yourself a huge favor.  Curt couldn't be more right on.

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  • Ali Boone
    Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    8y

    I agree with @Curt Davis. $40k would be an extremely risky turnkey. $40k would be a risky-enough property in general, almost regardless of market, but something fully rehabbed at $40k couldn't be good. I see a huge difference even just with $70k turnkeys versus $90k turnkeys, for example. The maintenance, repairs, tenant quality, etc. all start suffering the lower in price you go. A few years ago, 2011-ish range, $40k wouldn't have been such a risky property, but it certainly would be today with where we are in the general real estate economy. 

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