Turnkey Provider Standards

[Mark Woodling]

BP real estate investors, what are you looking for as a standard for turnkey homes for passive investment?  

You want specific standards, such as no less than 5 years left for a roof life, 3 years of HVAC left, etc.  Less than $500 in repairs needed, 1 year warranty for most mechanical components, quality renters and PM in place are critical.  

What else is a MUST that would give you 100% confidence that you will be safe in a turnkey investment?

[Chris Clothier]

Originally posted by @Mark Woodling:

BP real estate investors, what are you looking for as a standard for turnkey homes for passive investment?  

You want specific standards, such as no less than 5 years left for a roof life, 3 years of HVAC left, etc.  Less than $500 in repairs needed, 1 year warranty for most mechanical components, quality renters and PM in place are critical.  

What else is a MUST that would give you 100% confidence that you will be safe in a turnkey investment?

Interesting question.  We'll see if it gets any traction with viewers and comments.  

I am actually giving a talk at the BiggerPockets Conference in Nashville Monday on the topic.  I have a short amount of time, but I am essentially giving a brief breakdown of what most of the industry leaders would characterize as the basics.  The smart decisions and the things that reduce the risk of the investor the most.  Funny thing is, the word Turnkey does not matter a ton.  There are a few specifics to turnkey, but the rest is just basic good real estate and how we reduce risk when investing passively. 

I'll post the points from my talk after I give it on Monday.