All Forum Posts by: Ali Boone

I don't use any. I buy turnkeys so I don't have to do the intensive work of identifying the properties... they do that.

Appreciation. They won't even break-even out here. Not even close. Unless of course you put enough cash into the deal, but then it squashes the returns.

When you say overpriced, what do you mean specifically?

Shoot me a message or email. Happy to chat.

No idea on RP or who that is, but I'm a big fan of turnkeys for a great way to start into RE!

https://www.biggerpockets.com/...

Hope that helps.

Most of my portfolio is turnkeys. Lots of people badmouth them, but I think they're great and they are all I care to buy. Bought my first one 9 years ago in 2011 and have worked with them ever since. Happy to answer any questions if you need help!

I'm sure others have said a lot of what I'm going to say (haven't read the other posts). But a few things:

- not all PMs upcharge maintenance 15%. Based on everything you said, it sounds like you've talked to one turnkey company in particular (I can guess who). They add a million charges to things that many others don't.

- can't compare to Zillow. Zillow isn't accurate anyway, but especially not when comparing apples to oranges. The most accurate thing will be getting the appraisal done on the property--that's how you make sure you're paying what you should.

- come turnkey companies force you to make up the difference for a low appraisal, which essentially means they make you pay over market for the property. None of the turnkey providers I know make you close if the appraisal comes in low. You should be paying right around market for a turnkey.

- Dallas and Houston are going to be on the lower-end of cash flow for the turnkey markets. Memphis I'd consider the middle of the road--there are markets that have higher cash flow than Memphis and others have lower. So market choice matters as well.

There is a misconception out now that you have to overpay for a turnkey. I partially blame the turnkey companies who do charge over market, but that's not the majority of them. Otherwise you're going to pay market and normal PM fees... PM fees are PM fees, turnkey or not.

I primarily work with turnkeys, which there aren't really any more of in Atlanta. So with no turnkeys, I'm working with the closest thing I can get-- all the ones I deal with were formerly sold as turnkeys and the owners now are ready to offload them. So they vary in time since rehab, etc. I say that to say... I can't speak to flip properties, wholesaled properties, etc. Mostly just on the turnkey or turnkey-related front. Prices on those are upper $100s, low $200s at most. Douglasville, Covington, McDonough, Hampton... basically I-20 and south.

All but one of my out-of-state properties I bought turnkey, and yes, I've been able to do them all remote. The quality of your teams in that case is critical, but I've done it for years. Just have to keep an eye from a distance and make sure all is going well.

How far is Baltimore from you? That's a big cash flow city right now.