Turnkey company recommendations

[Scott Church]

I've been studying real estate and consuming BP's content for the past two years. I'm in Utah and the market continues to be hot, high priced and moves quickly. I don't have the initial cash to start investing in Utah but would like to start. I've been looking at turnkey companies like Bridge Turnkey in Missouri and Spartan Invest in Alabama. 

For those in the community that have invested with turnkey companies, which ones have you liked, why have you liked them and which ones would you stay away from and why? 

I'm looking for companies that will provide property management and hopefully a tenant in place before purchasing the home. If you have suggestions of other companies I should look at, please provide their information. 

[James Wise]

Originally posted by @Scott Church:

I've been studying real estate and consuming BP's content for the past two years. I'm in Utah and the market continues to be hot, high priced and moves quickly. I don't have the initial cash to start investing in Utah but would like to start. I've been looking at turnkey companies like Bridge Turnkey in Missouri and Spartan Invest in Alabama. 

For those in the community that have invested with turnkey companies, which ones have you liked, why have you liked them and which ones would you stay away from and why? 

I'm looking for companies that will provide property management and hopefully a tenant in place before purchasing the home. If you have suggestions of other companies I should look at, please provide their information. 

 Hey Scott I just wanted to drop some best practices for you here as this is your 1st ever turnkey purchase. If you do the following when you buy turnkey you will mitigate your risks no matter which market or provider you choose.

• Don't buy in the roughest neighborhood in the urban core. Pick a solid B-Class suburban area. Perhaps a nice 1950's built bungalow.
• Always hire a 3rd party property inspector to give you an unbiased feel for the home. The reports are 40-90 pages long and go through the entire house in great detail.
• Get an appraisal. If your using financing the bank requires this. This is good. The bank isn't going to let you blow their money. They have more skin in the game then you do.
• Make sure you get clear title. If using a lender this is a non-issue. They will make you do this. It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.
• Make sure your property manager is a licensed real estate brokerage.
• Understand you can not eliminate all risk, only mitigate it. If you are risk-averse real estate, (especially out of state) is not for you.