All Forum Posts by: David B.

@Matt R. I think that is great advice. Ideally that would be perfect if I could figure out 1-3 markets I have faith in and then build out a process on my own. 

Does anyone have an opinion of what cities are the best for 

high growth, high rental need, low crime, properties under 130k, and any other requirements anyone suggests throwing in when evaluating a proper market. 

@Andrew Syrios Thanks for the blog post

@Eric Fernwood Great info, I'll definitely make sure I do my research. 

Since my original post I have explored a few different Turnkey outfits and all seem to be legitimate and offer a different product for each buyers preference. 

If anyone has any companies they recommend I'd love to hear about them. 

Anyone have experience working directly with these two ? 

http://midsouthhomebuyers.com/

 I like the idea of this company because they have very inexpensive properties (50-70k). Ideally this would help me ramp up and get a whole bunch under my belt in a short period of time instead of putting all my money into 1-2 properties. The cash flow estimates see to be comparable to properties in the 100-200k range. 

The other site I came across is 

http://www.noradarealestate.com/Real-Estate-Invest...

This site I have not had much luck digging up info on. I notice they have very high cash flow estimate averaging from $650-900 for SFH that cost 80-120k. This seems a little bit padded. What do you all think ?

Thanks Andrew. Are there any common pitfalls I should be avoiding ? Any specifics I should be asking these companies to help determine if they are honest and legit ? 

Also, any place I can pick up all the necessary information to analyze the deal ? I have heard terms like Caprate, Cash on return, ect..

Again, thanks you all for the advice and tips here. Can anyone share any recommended reading so I can gather the basics of Turnkey investing and make sure I am avoiding any pitfalls ? 

I also here it is all about the math and numbers. So I clearly need to do my homework there. Is there a place where I can find all the needed calculations to make sure my investment is sounds ? 

Thanks, 

David 

Hi Brie, 

Great advice. I think I will definitely look into getting my own inspection done by a 3rd party. Hopefully someone savvy that will be able to give me a solid interpretation of what I am getting myself into. 

Thanks, 

David 

Thanks for the reply Ben. I look forward to seeing how everything progresses and hope it turns out to be a lucrative deal for you. 

A few questions ;

Do you feel the price paid for the property was fair or a little bit above market ? Did you have to pay the rehab costs or was the property ready to go for you ? If this goes well do you plan to get a handful of "Turnkey" properties ? That is my idea, if everything runs as smooth as I'd hope, getting 10-20 of these over the next few years would be awesome. 

I'll definitely touch base with you down the line. 

Hello BP community !

This is my first post so apologies if I am asking questions that have been asked or posting in the wrong spot :/

I am 31 years old and looking to get in the market. I have some money saved up and work a full time job. I live in LA and the market is just too hard to enter here with the high prices and the insane amount of competition. All roads seem to lead me to out of state (Turnkey) investments. The whole idea of this makes me very nervous. You have to put a lot of faith in a company to buy a house unseen and then trust that it will be managed correctly. 

I understand that doing this will cut my profit margins significantly but it will also allow me the freedom to keep working and enter a market that would otherwise be very challenging. Any thoughts ? 

Does anyone have any Turnkey companies that they trust and recommend ? Any specific reading or resources I should be looking at before jumping in ?

I did notice a lot of posts from Ali Boone - http://www.biggerpockets.com/users/hipsterali & Chris Clothier http://www.biggerpockets.com/users/memphisinvest . Has anyone had experience working with them ? 

Thanks !

David