Turn key ready worth it??

[Damien Papillo]

I have a full time job and Turn key sounds appetizing for starters , anything tips to keep in mind if pursue ?

[Mike D'Arrigo]

@Damien Papillo turn key is a good way for someone with no experience, a demanding job and family life to get in to rental. Like with any business, there are good turn key companies and bad ones. Here are some things to look for and what to avoid in any turn key company.

• Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)
• Don't allow for your own independent property inspection
• Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors)
• Require you to pay for any renovation upfront
• Sell only in cheap. low end neighborhoods
• Don't accurately represent the neighborhood/property classification
• Don't have consistent rehab standards for all properties
• Don't provide a scope of work for the property
• Can't provide references of repeat investors
• Require you to close before a tenant is in place