Quality turnkey companies

[Benjamin Su]

I am interested in long distance investing, and I want to use a good turnkey company. Any good ones out there?

[Bernard Joseph S.]

Rent to Retirement is who I'm using and I'm very happy with them. I have 6 builds so far, 4 have just been completed and 2 more coming this year. I have properties in North Port, Ocklawaha, and Cape Coral. Florida is where I want to be but they do have other inventory in various states. Both new construction and rehabs. @Zach Lemaster has been an amazing help to me and I continue to work with him to expand my portfolio. If everything goes right should have a few more turnkeys by the end of the year. Highly recommended Benjamin, feel free to reach out if you need any info but you will find some great reviews on Bigger Pockets. 

[Zach Lemaster]

@Bernard Joseph S. Thank you for the mention!  It's quite amazing to see how much progress you've made in such a short period of time!

@Benjamin Su I'm the founder and owner of Rent To Retirement.  I have an excellent team, but I am also readily available to answer any questions you have.  Feel free to reach out at any point in time.  There are a lot of options on where to invest.  My best recommendation is to create a clear strategy and criteria, and then find the location AND the team that fits those goals and then to take action.  It's okay if you need to refine your criteria over time.  That's all part of the game we we all continue to learn and become more savvy investors.  We all have to start somewhere!

Here are some additional BP threads that may be helpful in your research:

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/92/topics/1116050-a-huge-win-with-cori-from-rent-to-retirement

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/forums/88/topics/1047543-big-profits-from-new-construction-sfr-build-in-cape-coral-fl

https://www.biggerpockets.com/forums/92/topics/983659-first-investment-property-with-rent-to-retirement?

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

[Steve Donovan]

Hello @Benjamin Su  I've posted this previously, but it is worth repeating.  Feel free to reach out if you would like additional advice or would like a second opinion on a deal you are considering.  

Many new investors look to turnkey to get started, as it provides an entry point that requires less hands-on and allows an investor to participate in markets that offer higher returns. If you go this route, it is important to realize that there is no common definition of turnkey. In terms of rehabbing the property, the workflow can range from throwing a coat of paint on a wall or two, to an entire gut of the mechanicals, windows, siding, and flooring. Some providers take the approach that a furnace or water heater with several years of expected life shouldn't be replaced in the rehab, but that the final product should be priced accordingly. That furnace will need to be replaced in the next few years, but just not yet... Some turnkey companies sell the property to investors at the point where the rehab work is identified and quoted, but not yet completed. The investor then waits for completion and tenant selection prior to earning any income. Other providers sell the units only after the rehab is completed and the tenant in place.

Any turnkey investor should ask very probing questions of the turnkey provider regarding the condition of all mechanicals, roof and windows prior to entering a deal. As there is no common definition of a turnkey property, and it can be very risky (and expensive) to make any assumptions on the condition of the property or age of the mechanicals.

The ongoing management of the property is another area of vastly different approaches to turnkey investments. Some providers simply sell the property, and the investor is left to find a management company, maintenance personnel, snow and lawn care providers, etc. Other providers offer up recommendations for these services, and still other turnkey companies offer these services as part of their overall package. The range of offerings is great, and no assumptions should be made; you need to ask very specific questions regarding who is to do what.

All the best to on your investment journey