Turnkey Properties and Providers---Thoughts????

[Eric Morel]

I am in the process of buying my 1st rental. I am not ready for BRRRR method as of yet and not ready to take on a home that needs a lot of work. I was thinking of a turnkey or a home that just needs cosmetic updates. Places like roofstock and MI 9 Morris investments come up quite a bit. All the reviews I find are from 2019.

Makes me think I need to find a Realtor that knows the market I want to work in and go from there.   I know that no property comes with no risk and zero repairs. Just want one that I can go a few years without a major issue or the bet chance of that.

Any thoughts on companies like this?  

[Joseph Schweizer]

Hi Eric!

I thought turnkey was a good option for me to get started in real estate as well. I purchased a turnkey investment in October 2020 and so far things are going well (see post below)! You definitely want to do your due diligence on any turnkey providers or anyone else you might work with. I would make sure you find reviews and talk to investors who have worked with the provider long term and also investors who have invested with the provider more recently. Also, if you take the next step and make a purchase, due diligence on the property and neighborhood will be even more important.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!