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Updated 6 months ago on . Most recent reply
Experiences in Roofstock, Doorvest, Norada, or other "Turnkey" solutions
Hi BP Community,
I work full-time and am interested in some of these turnkey solutions I see online that almost seem like one-stop-shop and hassle-free. It seems to be a good way to diversify my investment portfolio if the numbers make sense compared to other asset class options.
I can't buy in my current market, so I'm looking for more affordable options out of state.
I was curious about people's experiences using turnkey real estate investing solutions, and if anyone recommends a different tool.
Thanks!
Most Popular Reply
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- Property Manager
- Royal Oak, MI
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@Jaden Jung many newbies make the mistake (often financially fatal) that assuming investing in real estate is like investing in mutual funds.
It's more like directly investing in non-Fortune 5000 (yes, that's 5000, not 500) stocks.
- What do you think will happen if you do this without a LOT of research?
- How passive will it actually be?
Also, many newbies don't understand that most turnkey providers are selling them Class C rentals - yet the newbies are expecting Class A results.
If you go turnkey, you better be VERY careful and understand the risks - NOTHING is risk-free!
- Speak with @Engelo Rumora as he doesn't sugarcoat anything.
If you'd rather do a BRRR-type deal to add your own equity, check us out in the Detroit market.
- We've Class-rated the 183 Detroit Neighborhoods, which we're not aware of anyone else doing in any other market.
- Drew Sygit
- [email protected]
- 248-209-6824
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