All Forum Posts by: Joseph Schweizer

Hi @Jerry Hollifield!

Working with a good reputable turnkey provider can definitely be a good option for some investors. It can be an easier way to set up an OOS team, it can be a good first investment to learn the process, it could be an easier way to utilize larger amounts of capable for investors who do not have the time to manage rehabs, etc.. It is definitely not the right strategy for everyone and obviously comes with its own set of Pros and cons.

Just like any type of investment, you will have to do your due diligence. You need to learn as much as you can about the turnkey providers, the markets, the property you are in interested in, etc.. Also, a common misconception with turnkey is that the process is completely hands off, which is not true. It is definitely more hands off then other types of investments, but it is not 100% hands off. 

I felt like turnkey was a good option for me to make my first RE investment (see post below). I work full-time outside of real estate and I have no background in real estate or construction so turnkey was appealing to me. 

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Not sure if this answers your question, but thought I would share my thoughts on it.

Best Wishes!

Hi @Ashley Tuschen!

I felt like turnkey would be a great way for me to get started in RE investing. I purchased my first investment in October 2020 (see post below) and my experience was excellent. I always recommend doing your own due diligence and also talking to some investors who have worked with turnkey providers for multiple investments as well as someone who has had some more recent experience with them.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @Account Closed!

If your criteria is 8% COC, you could easily get that with a turnkey investment. You would have to determine if turnkey would fit your specific goals and is available in your markets of interest. My first (only so far) property was turnkey and OOS for me (see post below). However, my goals and strategy might not be the same as yours.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @Kyle Nichol!

I worked with Rent to Retirement for my first investment in October 2020 (See post below). I had a great experience purchasing the property and in the 8 months of ownership. With that said, 8 months in buy and hold real estate is a very short amount of time, so I would recommend also reaching out to someone who has done multiple investments with RTR to get their experience as well. 

To answer your questions: Rent to Retirement is legit and reputable, but you still need to do your due diligence on the properties and neighborhoods before you make a purchase from anyone including RTR. In my experience with my first (only so far) property, the numbers are as expected and I am happy with them. If you had any more questions for me, feel free to ask!

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @Eric Swain!

It all comes down to due diligence. You need to research the property, neighborhood, market, etc.. Also, if it is being sold by a turnkey provider and you plan to use a PM, you need to do your research on the provider and the PM as well. I made my first investment in October 2020 and it was turnkey (See post below). It is going well so far.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

@Sam Sala

I would be happy to discuss more!

Hi @Sam Sala!

I work full time outside of real estate as well and I recently (October 2020) bought my first investment property. I went the turnkey route and the property is out of state for me. My experience so far has been great. See my post below for more info about my purchase!

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @Jacob Paulson!

I made my first RE investment in October 2020 working with a turnkey company (See post below). My experience so far has been excellent! As others have already mentioned, two of the most important things is to make sure you do your due diligence on the turnkey provider/promoter and your due diligence on the property itself. 

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @Romi Gaddy!

My experience purchasing my first real estate investment with the help of RTR was excellent.If you had specific questions about my experience with RTR, I would be happy to answer.

I got started with learning about real estate towards the beginning of 2020, joined BP around April/May 2020, started having weekly meetings with a 4 person mastermind group, reached out to RTR in August 2020 and closed my first investment in October 2020. 

I would be happy to discuss more!

Best 

Hi @Nicholas Corey!

I agree with Ben, you are going to have to clearly define your goals for RE investing. This will help you determine the best strategy for you. Also, a little capital can be subjective depending on a variety of factors. I was able to get into my first investment (see post below) for under $20k for down payment and closing costs. For some $20k is a lot and for some $20k is not even a drop in the bucket. I purchased in the midwest, which is out of state for me, where $20k can buy you a decent property in a decent neighborhood. Ultimately, you are going to have to determine a strategy and come up with steps to get started. 

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!