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Updated about 9 years ago,
PM vs Turnkey
Lately I've been looking for local markets to invest in CA. And while I do see less expensive markets here I do also recognize the tenant friendly laws in CA. Instead of calling it quits I decided to look into out of state investing. For a first investment a lot would probably not recommend it. But I'll do the absolute most I can to educate myself and create a system to prevent as many problems as I can. I know it's tough investing out of state. But I've decided it's what has to be done. So here are a few of my concerns and questions. I'm interested in buy & hold. That's it. Just rentals. So cash flow is what I'm seeking. When weighing out pros and cons for both property management and turnkey I'm still undecided. Obviously PM does appeal to me because of the potential higher returns. So I'd rather go with that. But I see a lot of folks going the turnkey route as well. Does anyone have experience with PM in Texas? What about turnkey properties? Any that they can vouch for? Any terrible experiences that you'd like to share? I'm all ears. I know I absolutely need a terrific team. I wish I could ask which the right one is. Pm or turnkey but it's something only I could answer because it's what best fits my goals. But I definitely value any input. I don't want to be constantly worried about what's going on in my property and if a PM is taking advantage of me or not doing their job. So many issues I'm confronted with for a first time investment out of state. Im on BP researching this already. Doing what I can. But I'd like to have my own post about this so I can feel a bit more secure about whatever I do. Currently looking to invest in SFR's in Texas. So I definitely need to keep doing research before Going this route. But I'd prefer multifamilies. Any good markets for multi? Thanks for any help. If you'd like to share any person experience and would prefer a PM, let me know. Thanks again BP community. Great to have a site like this to help new investors feel a lot more confident.