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I love my Turnkey Investments. BP is skeptical. Am I just lucky?
I have a strategy I call out of state turnkey residential investing or "OOS TK SFR". We have all our properties in this model and have great experiences for several year now. When I speak to people here on BP, a lot of them tell me that turnkey does not have a good reputation on Bigger Pockets, sometimes even to the point of being surprised when I describe what we do, how we do it, and how well we have been getting the desired results, especially when it comes to cash flow.
Am I just lucky, what are your experiences, and what do you think about turnkey investing in residential real estate?
@Axel Meienhoefer, HHmm, nope didn't see it in the private message response, maybe I'll send a quick one. Even though I am in no position to buy right now. My wife is actually considering possibly a local short-term rental.
Really great discussion here. Fun reading the dialogue. Dr @Axel Meierhoefer and I have been exchanging emails about some TK providers and he's definitely a wealth of knowledge. I have also had a solid experience with TK so far. I bought 3 SFH's and closing on a duplex in 2-3 weeks. So far I have about $12k in reserves all generated from excess rental cash and I just refinanced the three homes which will generate roughly $500 extra per month. From an appreciation standpoint since I just refinanced my appraisals came in with roughly $250K in equity in all 3 SFH. I do 25% down payment and finance the rest. All in Florida and I bought them all brand new.
I realize the returns are not as good as BRRR or house hack but I do have a very demanding job and I take the lower return as my time is tied up in a job I enjoy which also generates income for me to buy more properties with.