Looking for turnkey provider recommendations doing BRRRR

[Philippe Schulligen]

Hi BP members,

I am brand new to the real estate investment world, a few posts and my first REIA meeting last week! I am grateful for the opportunity to interact.

From my research so far and based on my personal situation (full time job, living in NYC metro area), the ideal scenario is to find a turnkey offering the BRRRR strategy to their customers. In other words, buying a property way under market value, needing rehab, then rent it out and cash out refinance, and repeat.

I would appreciate if you could share your success stories or words of wisdom.

Thanks.

P.

[William Kwong]

@Tom Ott

@Philippe Schulligen

To piggyback off Tom's comment, he's exactly right. The typical turnkey providers normally seen around the REI realm are ones buying at a wholesale price, executing rehab, filling with tenants, and selling it at the new appraised price with the added bonus of it being tenant occupied for easy rental income for an investor. - Turnkey property from my experiences mean a property that is move-in ready. These properties are already rehabbed and you won't be able to rehab and do your BRRR strategy to build that equity you need since the equity is already built before selling it to you.

I've never heard of a service in my experiences that will find you the property, have you buy the property, pay for the reno, and allow you to reap the benefit of building that 20% equity with being paid with fees or premiums. Not sure from a pricing perspective how that could work out for them or even you. Maybe that's a niche market and they could be called BRRR Consultants! haha.

I think what you ultimately need is a good wholesaler or agent to find you your really great deal and then find a good property management company or experienced consultant/project manager to coordinate your rehab. Or best bet is to get a mentor who can help guide you through all of it.

Best of luck!!