All Forum Posts by: Antonio Waller

Welcome to the game!

Here’s the truth—turnkey can be a decent entry point, but only if the numbers make sense and you’re not overpaying for “convenience.” I work with a lot of investors, and what I see too often is folks buying polished properties at retail prices with inflated rents, then wondering why they’re barely cash flowing.

Zillow? That’s retail central. Unless you’re confident in underwriting, local rehab costs, rent comps, and property management—stay away from trying to piece it together solo off Zillow. You’ll either overpay or take on more risk than you realize.

Turnkey companies? Some are solid, some are smoke and mirrors. Always ask: Who did the rehab? Are they cutting corners? Are rents legit or pro forma fluff? Do they manage the property or disappear after closing?

What I recommend is getting plugged in with someone local who understands investor strategy—not just an agent who’ll open doors. I help out-of-state investors every week find off-market or lightly distressed deals, build rehab plans, lock in solid PM, and ensure it’s truly passive—or at least performing.

If Memphis is on your radar, I’ve got boots on the ground, vetted contractors, lenders, PMs, and more to help you buy smart and build long-term. Feel free to DM—I don’t sugarcoat anything. 

Hey @Antonio Waller!

Turnkey can definitely be a solid option for a first deal, especially if you're looking for something more passive and don’t have time to manage a rehab. The key is working with the right people! Some turnkey providers are great, others not so much. I’d personally lean toward working with a trusted local team who knows the market rather than buying something off Zillow or going through a big national turnkey company. Markets like Memphis, where I’m active, offer solid cash flow and teams that help with property management and long-term support. Let me know if you’re exploring options like that!

Ultimately, you will make more money on houses with a value-add component if you do it well. I don't know how much time you have to put into your real estate, but everything takes longer and generally costs more than you expect on the first deals.  This includes learning how to be a landlord (how to market, local laws, setting up communication and payment systems, setting up leases, setting up a bookkeeping system), maintenance/turnover (how long it takes to repaint, get contractors started etc.), understanding how much quality work costs, and also mistakes you make.  Because of that, I suggest starting with something "turnkey" or minor cosmetic update before proceeding to more challenging and hopefully profitable work.  The reason is that you have less risk (hopefully) and you start learning without biting off more than you can chew.

@Antonio Waller best advice I can give is how to get YOUR answer vs what others may like, want, fit for, because end of day all that matters is what works for YOU, personally, right. 

Step1: get in touch with Rent To Retirement. @Zach Lemaster or it looks like @Melissa Justice although I am not familiar with her. 

Ask questions. All the question. Who, what, when, where, why, how.... Get the list, write it down, bullet points of what the turn-key curated experience is. 

Step2: Check out @James Wise and the HW YT site and all the videos. Get "done-learned" at what the middle ground looks like, what land lording can look like, watch the eviction series. Connect, find out what they do, what you'll have to "own" in the doing and be responsible for. 

Step3: Get to googling. Set aside 1-3 days of "brain damage" time because your going to be trying to reach out, interview and sniff out the BS of attempting to build your own team, remotely, from 0. Expect about 80% you connect with are just going to be out right BS'ing you and focused on selling you, because they see you as nothing but a paycheck. That's just the reality of it.      But you gotta do it anyways, just to experience "the suck".     You will need agents, PM's, service vendors, all of it. Your gonna do 100, 200+ calls.     Make a temp e-mail because I guarantee that e-mail is gonna be blowing up in short order with follow-up pressing you to get milked NOW-now. 

When all done, take a day or few, maybe have some good strong JD "Tennessee Tea" at the ready cause your gonna need it. Digest it all and..... pick a path. 

Which is YOUR best path for this 1st one. Fully done 4-you on a silver platter turn-key handholding.     Middle ground fo assisted and directed but ON-YOU to know what your doing, buying, due diligence confirmations etc..     Or the "lone wolf", putting in the work to sort through the sewers to find the rare gems of "team members" of quality and trust. 

It is what it is, there is a price to be paid for each. 

All that matters is which best fit's for YOU, not me, not anyone else, YOU. 

@Antonio Waller,

Great question—and you’re definitely not alone in getting mixed reviews. Turnkey investing can absolutely be a solid first deal if your goals, expectations, and provider are aligned.

When Turnkey Does Make Sense:
You want cash flow with minimal effort

You're short on time, live in an expensive market, or don't have a renovation team

You’d rather learn the ropes with a stabilized property than dive into a rehab

Turnkey gives you a way to start building wealth right away while keeping things simple, especially if you’re out-of-state or balancing a full-time job.

Where People Run Into Problems:
Buying from unvetted providers who cut corners

Not doing proper due diligence on the market or property manager

So the mixed reviews usually come down to execution, not the strategy itself.

 Zillow vs. Turnkey Provider?
Buying direct from Zillow is possible—but it’s not truly turnkey. You’ll still need to:

Find and vet a contractor or property manager

Handle the rehab or tenanting yourself

Do much more due diligence on comps, rents, and repairs

A reputable turnkey provider, on the other hand, typically:

Finds and renovates the property

Places a screened tenant

Pairs you with property management

Offers a warranty period or post-sale support

Yes, you pay a premium—but you’re buying back your time, experience, and learning curve.

If you go turnkey, just be sure to vet the provider thoroughly and choose a market with real demand and job growth. This is exactly what we have helped do at Rent to Retirement for years!

You're asking the right questions—keep going!

Best of luck,

Melissa Justice

Investment Strategist at Rent to Retirement

 @Antonio Waller congrats on getting started on your REI journey! I want you to remember this statement.

"you can build it or you can buy it built"

When you build your portfolio i.e sourcing your own deals, building your real estate team and network you will control the amount you can make on a deal.

When you buy it built(Turnkey) you are being charged for the work others who found, renovated and placed the tenant have completed.

This is not the worst way to get started but you will be getting minimal cash flow and equity which are two important pillars for building a rental portfolio.

my suggestion:

Before you invest your capital,

1. Identify a market based on metrics that serve your business.

2. build a team in that market i.e Title Co/Atty Office, Management, Contracting Core, Realtor, Process Server, Lender(Private, Non QM, HML) handyman, Project manager etc..

3. Develop a pipeline for real estate deals

4. Learn how to fully underwrite buy and hold deals and understand different exits.

Then you can build on solid foundation and be vertically integrated.

All the best!

@Antonio Waller

Great question and one that a lot of new investors wrestle with.

If you're looking to invest passively and want a more hands-off experience, I’d recommend working with a company that fully owns the process from start to finish: acquisition, renovation, placement of a resident, and long-term management. True turnkey providers typically offer warranties on their renovations, preferred lending relationships with competitive rates, and most importantly, a consistent system that minimizes your risks.

If a company doesn’t control all those aspects, then it’s not truly turnkey and at that point, you might be better off buying through a local agent, assembling your own team, and accepting the added responsibilities and risks that come with that route. This route isn't as passive and comes along with more risk unless you have the right partner to start with.

It really depends on your goals, time availability, and how involved you want to be.

Best of luck as you explore your options!