How to find a turn key property as a remote investor?

[Jason Lam]

Hi first post here on Bigger Pockets. I’m sorry if this is the wrong sub-forum, I didn’t see a good spot for this question.

I live out of the US for work so I can’t travel back as frequently to view potential properties. How have some of you other remote investors found properties?

When I posted this question on Reddit I got quite a few investors looking to sell me turn key properties. My question is for the investors who buy without seeing the property, how do you know the home is good? Do you just call up local inspectors to tour and send detailed descriptions?

Based on my need to be remote the two options I see are either buying full turnkey or partnering with a house flipper who can rehab.

Any help on the best thing to do for remote investors would be great.

[Charles Carillo]

@Jason Lam

Welcome to BP! There are a number of foreign/expat investors on BP. Normally, non-US based investors will purchase turn key properties or invest as a limited partner/passive investor in a syndication since it is the easiest to do, the system is in place already and the investor has minimal to no responsibilities.

If you are interested in turn key properties, do you know of any investors personally that have invested in them? What area(s) are you interested in? I feel the best way of finding anything is through referrals, especially in real estate.

There are a number of turn key providers on BP that you can speak to and they will have the system in place for you already; a lender, their property management, a CPA etc. Turn key properties, like syndications and everything else, has pros and cons. Normally with turn key properties; you are purchasing a property that is completely renovated, a renter is in place or will be in place, the manager most likely is managing 1,000+ units already in that area etc. The drawback is a lot of the value was already created BEFORE you purchased it which if you read BP, the value creation is where the lion share of the money is made. You will however have a cashflowing asset and you will not have to do anything. Just a couple thoughts for you to consider. Good luck on your journey!