All Forum Posts by: Adriana Collado Hudak

Hi John, I purchased two properties (SFH's) from MidSouth - one in October 2023 and the other in March 2024. Both are in Memphis. I bought the properties in cash: one for $114k and the other for $123k. The market value for the one I purchased for $114k hovers between $139k and $142k, so I walked into that property with equity from the get-go. The market value on the other property is pretty stagnant and fluctuates between $119k and $125k. I receive rents totaling $1817 per month, after property management fees of 8% are deducted. So far, so good as far as I'm concerned. Here's what I've learned in my brief experience:

1. Turnkey properties are great for someone like me who lives in a state where cashflow is very hard to find and who has a busy career that doesn't allow much time for typical landlording duties;

2. Turnkey properties are better if you're planning to hold for a good while (5+ years). As you can see from my numbers, this is not a quick appreciation situation although I hope that equity will build over time;

3. ALWAYS conduct your own inspection, even if the property is turnkey.

Hope this helps - best of luck!!

Hi Jason - I did a deep dive into turnkeys and MidSouth Home Buyers checked off all the right boxes. I bought my first property from them in September and am about to buy a second. So far, so good. They are responsive, professional, and pleasant to work with. Happy to share my thoughts/experience.

I'm a pretty new investor, so take my thoughts with a grain of salt. That said, I'm buying thru MidSouth Home Buyers, a turnkey company that has a very good rep among BP users and others. The downside is that I don't have the time to source a property, rehab, rent, etc. so I know I'm paying more for a certain level of convenience. The more I dive into this, the better the 72118 property looks. Two comparable properties in that area have sold within the price range, and the property is currently rented for $1135. My cash flow for the first year would be around $800-890. I guess I'll see what develops and go from there. Thanks again!

Julien - thanks so much. The insight from a local is invaluable. I believe I have a good PM and I am purchasing the property turnkey from Midsouth Home Buyers. Some additional thoughts, if you're inclined to assist - the 72209 property is a 4/1.5 bath, 1300 sq ft, and selling for $145k. The property in 72118 is a 2/1, 1142 sq ft, and priced at $134k. I also note that taxes for the 72209 property are about $400 higher than the 72118. Does this change your opinion?

I'm considering purchasing a turnkey property in Little Rock and am torn between two properties. One is in the 72118 zip code and the other is in 72209. As I'm going thru my due diligence, it seems that 72118 has lower crime rates and higher property values. The property I'm considering in that area is located on Oakland Drive. The property I'm considering in 72009 is on Cactus Circle. That property seems to have better curb appeal, but given the other figures, I'm undecided as to which might be the better long-term investment. I'd love to hear any insight from those familiar with the area. Thanks!!

Howdy folks - I'm taking the plunge and moving forward on a cash purchase of a turnkey property from Rent to Retirement in Akron, OH. (Deep breath!) Any recommendations for an appraiser and inspector in that area? 

Also, I'm very aware that "I don't know what I don't know" and would love any tips that could help this process on my end.

TIA!

Your points are accurate and well taken. I appreciate the insight and look forward to connecting with more like-minded investors.

I was considering Rent to Retirement and Midsouth Home Buyers. I'm ok with the lower return for less stress that comes with turnkey; for the moment, it's what works for me. Eventually, I'd like to replace my income with RE returns, but still have a ways to go. 

Thanks, all! I greatly appreciate your responses. Makes me feel like I'm looking at these prospects the right way. 

Newbie investor here. I'm focusing on turnkey properties because I'm seeking a passive (or as passive as possible) RE investment. I have about $150k to invest, which is currently sitting in a savings account (4.4 % APY), waiting for the right opportunity. My tentative plan is to start with one turnkey property (putting 25% down) and see how that goes before committing to more. That said, with today's interest rates, I'm not seeing any significant cash flow once all the numbers are in place on most of the sample properties I've looked at. Not sure if I'm looking at this correctly, but it seems that I'm better off leaving my funds in the savings account for the time being. I may also be suffering from "analysis paralysis," so I'm seeking guidance from greater minds.

Thanks!