Turn Key Property Management

[Daniel Levine]

I recently learned of an investor that was buying rental properties in out of state areas using a turn-key property management company. He never saw the house other then the pictures and the property management company took care of everything, for a fee of course. My market is at a point where buy and hold purcahses just don't make sense and so I wanted to see if anyone had experience with this type of investing in out of state markets using a Turn key management company. I assume there are a lot of pit falls. Let me know what your experience has been. Thanks.

[Larry Fried]

@Daniel Levine

I am an investor who buys turnkey properties, some of them sight unseen.  However I agree with @Mike D'Arrigo 100% it is best to make at least one visit to the market before you close on the first property in that area,  or have built a solid trust in the provider, know their rehab work, the kinds of properties they provide, the neighborhoods they buy in, and the property managment, which is a key to your success as an investor.