Turnkey investing

[Aaron M.]

Hello all,

This is my first time in BP and I am planning to buy my first property.  I recently learned about turnkey investing.  I'm accessing a company in Baltimore and I'd like insights on what questions I should ask to ensure the company is quality.  Thanks!

[Tom Ott]

Originally posted by @Aaron M.:

Hello all,

This is my first time in BP and I am planning to buy my first property.  I recently learned about turnkey investing.  I'm accessing a company in Baltimore and I'd like insights on what questions I should ask to ensure the company is quality.  Thanks!

Investing in Turnkey can be a great way to earn passive income! I might suggest you ask some simple questions just to get a feel for what kind of provider they are. Do they actually own the investment home, or are they just acting as an agent and farmed the MLS for homes they think are "turnkey"? Did they actually do the work to the home, or again, do they just think it doesn't need work? You want to make sure you find a provider who actually owns the home and actually did the work. They should be able to put their word behind the investment, if they are just guess then I would not suggest it.

What kind of property management are they offering? Do they have a good track record for being a great manager? You don't want a company who is going to stick you with a ton of fees or a lot of the work. The idea of turnkey is that it is meant to be passive. You should not have to do anything. There are a lot of fake turnkey companies out there that claim to be providers, but really they are just "middle men" Just do some research online first and make sure they can do the job.

Feel free to send me a message if you have any other questions.