Turnkey companies good or bad?

Question

Hi! Can you all please share your good and bad experiences w/ turnkey companies. Do you recommend any? Thanks!

Quentin Jivery · Answer

Do you think in todays market BRRRRS are still succsesful? And if so how are you finding them?

Steven Taylor · Answer

@Eduardo Tanamachi  It's a great way to get started and have someone show you the ropes.  You won't make a killing in terms of the deal, but if you work with a good company you can get a solid property, while getting something more valuable, education, and actually getting into the RE game.  One thing you MUST DO is get an independent inspection regardless of what the Turnkey provider says or provides.  "Turnkey" means different things to different people.

Good luck!S

Aj Parikh · Answer

I am a huge proponent of turnkey companies because it is one of the easiest ways to get started with investing out of state. I have personally worked with a couple of them and I would definitely recommend their operation. Feel free to reach out and we can discuss.

William Morales · Answer

I called a turnkey company a few years ago in Indiana, I was interested in a property they had for sale at the time for, if I remember correctly about $60k, the company turned around tried to upsell me to a another property for $80k, no reason was given for the change when I didn't request a more expensive property, so that turned me off, plus I heard through other investors the numbers they provide are not always accurate.

Andrew Syrios · Answer

Some are good, some are bad (a few being even scams) so do your due diligence (meet with them, see their work, call references, look at online reviews, ask around, etc.) But even the good ones aren't going to get you great deals. You'll be buying at something close to market usually, maybe even a bit over. But the good ones will manage well and in the long run, owning real estate is huge for your net worth.

Adam Schroeder · Answer

Now if they provide you with a 3rd party inspection and you send the inspector out to verify things once the fixes to the initial inspection have already been done, that's fine in my book, but it's up to you to decide on that one.

Turnkey companies good or bad?

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