Thoughts on legit turnkey companies for first rental property?

[Patrick Tiberius Gehlen]

hi there,

Brand new to BP, and looking to invest in my first rental property, ideally a small multi-family.  I am looking out of state, since I live in Los Angeles, and certainly can't afford to invest where I live (aside from our home, which we own).  So having someone deal with just about everything is what I'm looking for, and did some research on hopefully legit companies like RoofStock and HomeUnion...on paper it seems like a pretty ideal way to dip my toes in the water, but wanted to see if anyone had used them and what their experiences were. thank you.  -p@rick

[James Wise]

Originally posted by @Patrick Tiberius Gehlen:

hi there,

Brand new to BP, and looking to invest in my first rental property, ideally a small multi-family.  I am looking out of state, since I live in Los Angeles, and certainly can't afford to invest where I live (aside from our home, which we own).  So having someone deal with just about everything is what I'm looking for, and did some research on hopefully legit companies like RoofStock and HomeUnion...on paper it seems like a pretty ideal way to dip my toes in the water, but wanted to see if anyone had used them and what their experiences were. thank you.  -p@rick

 Neither of those are actually turnkey companies. Home Union used to be but they stopped handling property management in many markets. Roofstock is essentially a Zillow type company with a focus on rental property buyers as their customer base.

I recommend setting up keyword alerts for each of the following areas as they are discussed in the forums daily with advertisements posted in the BiggerPockets marketplace hourly.

• Cincinnati, Ohio
• Dayton, Ohio
• Toledo, Ohio
• Youngstown, Ohio
• Cincinnati, Ohio
• Memphis, Tennessee
• Saint Louis, Missouri
• Indianapolis, Indiana
• Detroit, Michigan
• Erie, Pennsylvania
• Louisville, Kentucky
• Milwaukee, Wisconsin
• Jackson, Mississippi

In addition to those listed above the market I am most familiar with is Cleveland so I figured you'd get some value out of reading The Ultimate Guide to Grading Cleveland Neighborhoods. I also have similar guides that you may want to look over for Kansas City, Missouri. & Birmingham, Alabama.

Good luck my man.