How to find a turnkey investment property??

[James Fonteno]

I have capital available and would really like to just cut down on the learning curve and just buy into a turnkey multi-family or multiple single family homes. First question is do they even exist in multi-family and where is the best place to start looking?  

[Omar Khan]

@James Fonteno You are thinking about a stabilized multifamily which is classified as a yield play. The yield being the income the property throws off. These can be great assets if you have a sizable portfolio and are looking for a combination of high yield and capital preservation.

Unlike value-add plays, there is little, if any, capital appreciation potential. This is because there should be minimal deferred maintenance, revenue upside (rents are in-line with market) or expense optimization left. Hence, the turnkey part. 

You won't be cutting down on any learning time by getting a turnkey multifamily. In fact, you might end up learning nothing at all. 

In this stage of the cycle, turnkey SFRs are expensive (relative to market fundamentals) as investors have piled onto these assets. If you have money, you can look into buying package deals or investing in funds that invest in single family portfolios to get a better bang for your buck.