Turnkey investments

[Fayne Sawatzky]

I've been listening to podcasts and there have been several that talk about Turnkey investments. Are they worth the money for a newbie? What about management fees and other fees  to the turnkey provider? The potential to be taken advantage of seems extreme. Has anybody else done this successfully? 

[Adam Bontrager]

@Fayne Sawatzky

If you're looking to invest in real estate but don't want the headache of managing contractors and renovating a property, turnkey is an awesome option.  @Robert Smith hit the nail on the head.  You're probably going to pay a bit more for a turnkey property but the benefit will be that you will start cash flowing from day one and you will avoid the "headache and heartache" of managing renovations yourself.  Do the analysis and make sure the numbers work but then jump on the opportunity.  

Another bit of advice...the right turnkey company can make your investing so much easier.  You want to be sure you're not buying a "pig with lipstick".  Rather, work with a reputable turnkey provider that actually does quality work and stays on to manage the property after you've bought it.