All Forum Posts by: Keith Meyer

@Caleb Heimsoth

Thank you for the info. I too am taking a look at Turnkey in the Memphis area, and your figures are in line with what I'm seeing as available currently. One of my goals in starting Turnkey would be to learn the ropes a bit, especially for out of state. Do you feel there's a decent amount of transparency in terms of upfront rehab cost breakdown and property mgmt fees? I would want this experience to bring me closer to being able to run this process independently. Otherwise I would opt for a REIT or RealtyShares.

Also, how are your rental rates primarily handled for your turnkeys?

Thanks!

Good Day BP Community,

I'm looking to see if I can get some pointers from investors who are planning to be active in investing with Turnkey firms in 2018. These are the main points I'm seeking some guidance on:

1. Has there been a noticeable decline in the quality of deals/offerings in the past 1-2 years as home values across the country have generally appreciated?
2. I've heard from several out of state-focused investors recently, their experience has generally been that paying the "premium" for a Turnkey service comes out as a wash financially versus trying to go at it alone in an out of state market. Meaning that the economies of scale and efficiencies provided by the Turnkey operators are worth your while, not having the risk poor Property Management, high turnover tenants, vacancy loss, etc. Are you in agreement with this philosophy?
3. Several Turnkey providers I've been investigating recently are pretty aggressive at addressing deferred maintenance upfront, often opting to replace HVAC and roof which technically may have a few more years of life left. This is stated as being beneficial to the home buyer, as it allows repairs to be financed in the initial purchase, as well as provides for predictable cash flows. Has this been the experience for your Turnkey investments?
4. Which markets are you targeting in 2018, and do you have any Turnkey providers you'd highly recommend? 

Thank you in advance BP Community for your support!

I personally really like this https://www.bestplaces.net/ site. It has a lot of great information and covers a ton of markets. It is also pretty export-friendly to Excel, so you can run your own offline analysis.