Any Recommendations on Buying a Turnkey at $45k-$65k?

[Jie Li]

Hi,

this is Jie. I'm a new member to BiggerPockets. 

Right now I'm doing a 1031 exchange that I need to buy a replacement property for $45k or more. I plan to buy in the price range of $45k-$65k for a turnkey property since I don't want to pay too much out of pocket. Can anyone give me some advices on good market and turn key providers in today's market? I'm looking for long term investment that can give me decent cash flow (cap rate 8%+)

Thanks!

Jie

Fremont, CA

[Curt Davis]

@Jie Li

What you need to keep in mind is that when you buy homes in the $65k range or lower, property management becomes one of the most important elements to your success.  There are lots of markets that offer this type of product but not all have real solid mgnt in place.  

You should do some research on several markets that offer this type of product and then dig in a little to figure out who you think might be best for your company.  Go to Turnkey-reviews.com to use that as one of your due diligence pieces.  You can find these companies ow your own and get a better price.

Good luck