Memphis Full Service Turnkey Company Reviews/Advice on this Approach

[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!

[Dean Harris]

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!