Norada Real Estate?

[Joseph Molander]

Hay everybody,

Just wondering, do any of you have experience with Norada Real Estate? http://www.noradarealestate.com

If you do please let me know how you worked with them, and what your experience was like.  Thanks much!

[Anton Ivanov]

Hi Joseph,

I live in San Diego and I bought 2 SFRs I found through Norada earlier this year – 1 in Atlanta GA and another in Birmingham AL. Overall, it was a very positive and smooth experience. Marco, who is the owner and the person you will most likely be working with, has many connections throughout the US and is very knowledgeable about the turn-key acquisition process.

Although these were not my first RE deals, he insisted on helping me through the entire process to make sure the deals went as smooth as possible. Since it looks like you are a beginner investor, you will find that extremely helpful. Be sure to ask for Marco’s property purchase checklist.

Now with that said, you need to understand what turn-key investing is and what it isn’t. What you should get is a freshly rehabbed property with a tenant in place. You will end up paying market value, but you will not have to deal with finding and rehabbing the property yourself.

At the same time, not all turn-key properties are worth buying. You need to start by finding a market (state, city) that fits your goals and preferences. Different markets have different economic fundamentals and demographics. The Norada website has descriptions and fundamentals for each market they operate in, which is a good place to start.

After you find a suitable market, you need to determine what your criteria for the property is (price range, neighborhood quality, size, age, etc.). It will be much easier for your to find suitable turn-key properties if you do the above instead of just browsing everything that’s available.

To sum it up, treat a turn-key acquisition as you would any other purchase. Don’t assume that the homes you are looking at are perfect. Double check all of the numbers until you know exactly what you are buying.

Feel free to reach out if you have any specific questions.