Originally posted by @Tandi H.:
@Mark S. @Domonick S.
I contacted Mid South Home Buyers last week and got on their list - they said they were about 6-8 months out. I did have a good conversation with them and feel that they are a solid company. Their cash flow estimates on the website seem reasonable, however they don't deduct R&M or CapEx in those numbers, so reduce them a bit further.
The concern I have with turnkey SFR is that unless you are buying all cash, you are getting a mortgage and the limit is 10 for standard conventional. At $300/door, 10 gets you cash flow of $3000/mo. If you are trying to create more than that, it seems like you'd need MF properties to stay within the 10 limit. Mid South said they occasionally have duplexes, but that those go to cash buyers first for the most part.
I'm interested to hear how much cash flow other turnkey buyers are looking for per month? My goal is $5000-6000 total, including rental properties I manage in my home town.
I found an area that could operate a turn key for 400-500 built 2000 and newer. The only downside is growth, the rental demand appears to be there, the market has been flat lined for awhile in this area. But cash flow is cash flow, just would be nice to see growth over time but how picky can one be wanting the best of all worlds. I'd probably prefer a more stable market anyhow, I'm comparing Florida to this because thats the market I've been looking at for awhile, it was up then way down now its coming back up, roller coaster. Negative equity is something I would never want.
