All Forum Posts by: Nancy Brook

 Hi Ken!

I'd say the best place to start is to learn about wholesaling as you'll need to find properties at a discount in order to make money from turnkey investors.

Hi Kyle -

I do own two turnkey rentals in Columbus, Ohio, along with 13 other properties. Here's my opinion, if you work with a good turnkey provider, the properties are great for out-of-town investors. We've had zero problems with our turn-key rentals. We are making more return than the company promised in that they 1) had the property completely rehabbed prior to our purchase; 2) do a good job of screening tenants and we have no involvement in that piece; and 3) have not had any vacancies (one property we've owned more than a year and another for more than six months). 

I can say that the properties I have purchased on my own have been much more hassle. I have had to manage the renovations and the property management company.

I think it would be crazy for someone out of market to purchase a property without having the resources set up. You can do it with a turnkey rental company or you can jump on a plane, manage the contractor and set up the property manager yourself. I guess if you're buying 30 properties at one time, that might make sense. But for most investors just getting started with one property, setting this up does not make sense.

I do not work for a turnkey company but I have purchased two properties through the company I work with. Additionally, I have done training to learn wholesaling so I've visited their company headquarters, met staff, seen operations and even met the property manager.

I have a friend who could have bought a home from me in Florida. (She is in Montana.) Instead of setting her up with a property there, I felt much better knowing she would be taken care of with a property in Ohio through the turnkey company.

If you have any specific questions on my experience, you can sure ask. I'm a satisfied customer and have seen both sides of real estate investing.

I should mention that together, my boyfriend and I own 15 houses in three states. The ones from AWB are the only ones that have had no issues. All renovations were done by them. The renters were found by them. The ROI is actually better than predicted because we haven't had vacancies or repairs as of yet. I can tell you that is not the case with our other properties.

@Abhi Jain,

I've bought two homes in Columbus from American Wealth Builders. One I've owned for a year and the other for more than six months. I've had zero issues. I've been to Columbus to see the homes after the purchase. I did some training with the owner on wholesaling and so visited their corporate headquarters. I've met the property manager who is terrific. I know their company very well and I wouldn't say you have any worries. They are the real deal.

I love that you are going for it, by the way. There's no better way to learn than to jump on in. You'll make some mistakes but that's what it takes to gain experience. Look at it this way; even if you said silly things to a Realtor (not saying you would), it doesn't cost you anything to have the meeting and you may gain some great insight. I think you have the right mindset to be successful. Learning a strategy is the easy part. Mindset and taking action are where most wannabe investors fall short. Best of luck to you and keep us posted! :-)

I never go to closings. In the past two -and-a-half years, my boyfriend and I have purchased 10 (soon to be 11) places in Florida, Ohio and Montana. All (except the first one when I didn't know better) have been easily handled with a mail away closing and a wire. Sometimes I need a notary and in these cases, I just head down to the bank to get that handled. I'm not sure why anyone would go to a closing in this day and age. Even if I were in town, I have better uses of my time than signing documents at a title company for an hour.

You want a "motivated" seller! These are sellers who need to come up with a solution quickly, not wait around for a retail buyer through the MLS.