who owns the turnkey property?

[Larry K.]

Does the TK company actually own it first (name on deed) then sell it to their client/the new owner). Or are they acting as a realtor between a seller and their client/the new owner. Or a double close as wholesaler?

 Once owned does the TK company have any ownership interest or are they strictly a 3rd party manager?

[Alex Craig]

Legit turnkey providers will own the house.  Those that do not are really not turnkey providers, rather middle men or wholesalers that have no skin in the game. I would say buying a distressed house and depending on someone to fix it up after the sell is a huge risk--a risk that falls 100% on your shoulders.  I like to retain the management of the homes obviously to grow my PM business, but also to oversee the investment after the sell so that if issues come up within the first year, I can address them accordingly and if necessary pay for those issues instead of the investor.  Legit turnkey operators will want to develop long term relationships, which is another reason I like to retain mgmt.  I would be cautions of the "sell you a house, then see you later" type sellers.  That connection back to the property I think is important.