Memphis Full Service Turnkey Company Reviews/Advice on this Approach

Member since 2022 · 2 posts · 2 votes

Hello,

I am new and looking to purchase my first property. I have zero interest in rehabbing/flipping, etc. and am looking at the turnkey approach for long term buy and hold rentals. There are several turnkey companies in Memphis that offer everything in house from purchase all the way to property mgmt. This approach actually seems very easy and streamlined. Looking for reviews on some of these companies - TurnkeyInvest.com, TurnkeyInvestProperties.com, etc. If anyone has worked with these companies or similar turnkey companies, I'd appreciate any info you have to share! Likewise if you have any advice on this strategy (for example - things to be aware of when working with a full service turnkey company like this?) I'd appreciate it! It almost seems too easy/good to be true.

Thanks!

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Dean HarrisBusiness Member

Real Estate Agent · Memphis, TN · Member since 2015 · 1k+ posts · 1k+ votes

Hi Megan.

Welcome to the BP community!

I own a large Buy & Hold rental portfolio here in Memphis and I have always stayed away from Turnkey properties. We have some good Turnkey providers here but that product never appealed to me due to the entry price, declining rent as the house deteriorates and there is no real exit strategy without taking a sizeable loss for the first 5-7 years in most cases. In my experience, the main reason for the construction "anxiety" from OOS investors is due to the lack or inability to develop real trust with an experienced GC. When I was able to source that GC and develop that trust, I was able to start to executing the BRRRR strategy. I have completed over 45 BRRRR deals in Memphis since I have found this GC. If you look, there are better options

Im happy to share more of my personal investing experiences here in Memphis!

Good Luck!

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Jordan RayBusiness Member
Real Estate Agent · Memphis, TN · Member since 2023 · 642 posts · 333 votes
2y
Quote from @Megan Ferris:

Hello,
I am new and looking to purchase my first property. I have zero interest in rehabbing/flipping, etc. and am looking at the turnkey approach for long term buy and hold rentals. There are several turnkey companies in Memphis that offer everything in house from purchase all the way to property mgmt. This approach actually seems very easy and streamlined. Looking for reviews on some of these companies - TurnkeyInvest.com, TurnkeyInvestProperties.com, etc. If anyone has worked with these companies or similar turnkey companies, I'd appreciate any info you have to share! Likewise if you have any advice on this strategy (for example - things to be aware of when working with a full service turnkey company like this?) I'd appreciate it! It almost seems too easy/good to be true.
Thanks!

You might check out REI Nation or Mid South Home Buyers, I think they offer those programs.
[email protected]662-642-1458
Jordan Ray - eXp Realty5112 Reviews
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Stephen Akindona
Investor · Memphis, TN · Member since 2013 · 741 posts · 845 votes
2y
@Megan Ferris, welcome to the Biggerpockets community! There are several advantages as well as disadvantages in working with a turnkey provider. Every strategy will have pros and cons but it really just all depends on what you are trying to achieve with your investing.
Some pros with turnkey: you don’t have to source deals, no rehabbing, streamlined process, fully rehabbed property(with the good companies), some can come with tenants in place cash flowing from purchase.
Some cons: no equity when you purchase, some times you will pay more than the property is worth, long waiting list, low inventory, and lower cash flow.
I tend to lean towards advising investors not to go the turnkey route but if you have access to a lot of capital and have very little time then turnkey is going to be your best option. There are a lot of good providers in Memphis and also some not so good ones. Just make sure you do your due diligence before pulling the trigger. If you want to discuss some other strategies, I’d love to chat more!
Happy investing!

3 Reply
Dean HarrisBusiness Member
Real Estate Agent · Memphis, TN · Member since 2015 · 1k+ posts · 1k+ votes
2y
Hi Megan.
Welcome to the BP community!
I own a large Buy & Hold rental portfolio here in Memphis and I have always stayed away from Turnkey properties. We have some good Turnkey providers here but that product never appealed to me due to the entry price, declining rent as the house deteriorates and there is no real exit strategy without taking a sizeable loss for the first 5-7 years in most cases. In my experience, the main reason for the construction "anxiety" from OOS investors is due to the lack or inability to develop real trust with an experienced GC. When I was able to source that GC and develop that trust, I was able to start to executing the BRRRR strategy. I have completed over 45 BRRRR deals in Memphis since I have found this GC. If you look, there are better options
Im happy to share more of my personal investing experiences here in Memphis!
Good Luck!
CrestCore Realty4.713 Reviews
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6 Reply
James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
2y
Quote from @Megan Ferris:

Hello,
I am new and looking to purchase my first property. I have zero interest in rehabbing/flipping, etc. and am looking at the turnkey approach for long term buy and hold rentals. There are several turnkey companies in Memphis that offer everything in house from purchase all the way to property mgmt. This approach actually seems very easy and streamlined. Looking for reviews on some of these companies - TurnkeyInvest.com, TurnkeyInvestProperties.com, etc. If anyone has worked with these companies or similar turnkey companies, I'd appreciate any info you have to share! Likewise if you have any advice on this strategy (for example - things to be aware of when working with a full service turnkey company like this?) I'd appreciate it! It almost seems too easy/good to be true.
Thanks!

So long as you get the property appraised and buy it right, it's really really really hard not to make money on a rental property.
1 Reply
Bob Beach
Rental Property Investor · Member since 2019 · 79 posts · 27 votes
2y
We purchased one house from Midsouth Home buyers and it's been mostly trouble free for going on 8 years.
0 Reply
Megan Ferris
OP
Member since 2022 · 2 posts · 2 votes
2y
I have been hearing they are a good company to work with
1 Reply
Colby DorrisBusiness Member
Lender · Memphis, TN · Member since 2021 · 19 posts · 11 votes
2y
@Taz Zettergren and his team at REI Nation are some of the best in the business! They're based in Memphis and offer other markets as well.
[email protected]615-339-5024
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Nader Shariff
Detroit, MI · Member since 2020 · 150 posts · 68 votes
2y
@Joseph Bui has purchased properties with turnkeyinvest.com Chat with him about his experience.

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Joseph Bui
Lender · Nationwide · Member since 2023 · 362 posts · 237 votes
2y
Quote from @Nader Shariff:

@Joseph Bui has purchased properties with turnkeyinvest.com Chat with him about his experience.

Hi Megan, I have bought a couple properties from turnkeyinvest and I have a close friend that has purchased 10 plus from them as well. Lets connect and I can share with you my experience with them.
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