Who are your favorite turnkey providers?

[Burke Ericson]

I am in California and I am looking to buy rentals in other states, in the most popular rental locales that are mentioned here on BP. Ideally I am looking to find rentals that are tenanted and ready to buy. I intend to do my due diligence, inspect and physically see the properties I buy, but it would be nice to get some leads from the community based upon real world experience. Thanks for any and all suggestions!

[Larry Fried]

@Burke Ericson You are starting off on a well worn path for many west coast investors, including myself.  However markets are in constant flux and change.  For example, I started my OOS with a Florida turnkey company back in 2012.  They are excellent, and I have seen very nice returns and appreciation from those investments I now made years ago.  But today, the prices are inflated and rent increases are trailing well behind in the area, so for buyers today with this company are not going to see at best but modest cash flow on the rehabs - that is if you are buying with leverage (conventional loan).  In fact, with their new construction homes, which they are concentrating on now, your fortunate if you see any cash flow at all when allowing for soft cost reserves.  Only buying these homes with cash is going to allow for cash flow.  Otherwise it is going to be a tenant pays down loan and appreciation play.

To get the true cash flow plays in good areas with trustworthy and reliable providers it can be a good deal more challenging than it was even 18 months ago, but they are still out there.  Be sure to do your homework and vet the company and people behind the company thoroughly.