A Few Simple Steps to Help you Find a Good Turnkey Provider

Finding a good turnkey provider can be difficult when there are multiple companies. If this is the case, it is important to do research because investing money can be risky if it is not done right. On the other hand, it can also be very rewarding when done right. As a turnkey company, we found the article, 5 Steps to Weed Out Shady Turnkey Operators, on Bigger pockets to be beneficial. We believe this article is helpful for investors looking for a turnkey company. We agree with a lot of the points that were made but also wanted to reemphasize and elaborate on certain points. 

1. Google:

Do research! A simple google search can take you far.If you type a companies name and put "scam" behind it, google will reveal any scams. Another route is typing in the owner's name and putting "scam" behind it. This will help you find out the type of company you are investing in.

2. Check out their reviews:

Make sure the company has positive reviews. It is also beneficial to check out their negative reviews. This will let you know how they deal with criticism and conflict.

3. References:

See if the company has any references. If you are hesitant, they may give you a contact to speak to in order to get a better idea of the company or they may give you a page with different testimonies. However, it is also important to consider that each person's experience and opinion can be different.

4. Find out if there is an in-house property management company.

In-house property management is a value-add for, you, the buyer. When you purchase a turnkey property It is important for the numbers to make sense but the property management service strengthens the relationship and aligns interests with your provider.

5. Check out the demographics:

Investors have varying preferences for neighborhood selection. Typically, properties and areas in the B- to B+ range provide a nice balance of tenant quality and cash flow.

6. Look at the houses workmanship to find out the quality:

You don't need the house to look like it belongs in an article of Homes and Garden but the remodel should be sustainable and appealing.

7. Speak to Different Companies:

It is more than okay be patient in the vetting process. It is important to call and meet with different companies. This allows you to evaluate how the company will mesh with your objectives. It is important to remember that you are selecting a business partner.

Reference: 

Rumora, Engelo. "5 Steps to Weed Out Shady Turnkey Operators." The BiggerPockets Blog. 30 Mar. 2017.