Turnkey properties investing for my family.

[Jason Frink]

This is my first time posting to the bigger pockets forum but I must say the education I've been getting from the BP podcasts has been amazing.

 I live in California and have managed to put some money aside from my W2 job to hopefully get into my first rental property. As everyone is well aware the cost of investing in California is astronomical so I’ve turned my attention to long distance investing. 
I work long hours at my job and have a 5 year old at home so my time is very limited. That said I’ve  taken an interest in Turnkey properties with two companies in particular standing out which are Mid South Home Buyers and Rent 2 Retirement.
I’d love to be able to speak with some people that have invested with either or even both of these outfits. 

I’m looking forward to starting this journey and securing financial freedom for my family for years to come! 

[Adriana Collado Hudak]

Hi John, I purchased two properties (SFH's) from MidSouth - one in October 2023 and the other in March 2024. Both are in Memphis. I bought the properties in cash: one for $114k and the other for $123k. The market value for the one I purchased for $114k hovers between $139k and $142k, so I walked into that property with equity from the get-go. The market value on the other property is pretty stagnant and fluctuates between $119k and $125k. I receive rents totaling $1817 per month, after property management fees of 8% are deducted. So far, so good as far as I'm concerned. Here's what I've learned in my brief experience:

1. Turnkey properties are great for someone like me who lives in a state where cashflow is very hard to find and who has a busy career that doesn't allow much time for typical landlording duties;

2. Turnkey properties are better if you're planning to hold for a good while (5+ years). As you can see from my numbers, this is not a quick appreciation situation although I hope that equity will build over time;

3. ALWAYS conduct your own inspection, even if the property is turnkey.

Hope this helps - best of luck!!