All Forum Posts by: Steven Gesis

 Peter-

Good route, I just left some pointers on this string a little further along, the topic seemed to have heated up fairly quickly, I think it may have gone off course as well. To Dexters post earlier, I stated I am also an investor and help investors acquire turnkey. There are some critical points you need to look out for when considering turnkey, the #1 element is the provider or the operator themselves. If you do not have a good partner, the asset is worthless to you. Check out the post I left, it has some great pointers and good questions to consider, when looking for TK operator.

 Hi Dexter-

Great question! Not only am I personally an investor, I also assist many part-time investors or simply put ,investors that use their core jobs to purchase investment property. I specialize in Turnkey in Cleveland, Ohio - turnkey is a very successful strategy, especially if you are working with a great operator. Make sure you define a turnkey company that is a one stop solution, that does not just piece meal their product and then farm out the management, you want everything in-house for better accountability and transparency.  Some key things to consider when looking at Turnkey providers:

• Are all services in house? (Management, Maintenance, Accounting, Leasing ?)
• Do you purchase the asset first with the provider and then they help you make it functional?
• Is the asset already cash-flowing from day one?
• Warranty provided for the property?
• How many years in business?
• What is the average rent roll on a single door?
• What is the average annual maintenance on a single door?
• Do they chop the maintenance ticket overhead and profit?
• Can you have a scope of work for the property that was renovated?
• ALWAYS ASK TO CONDUCT A 3rd PARTY INSPECTION
• Do you manage other homes other than investor properties?

Those are some basic questions you may want to consider as you continue exploring options. It is super important to conduct as much analysis as possible on the operator as it is on the home, if not more. The key/secret sauce to a successful turnkey investment is the management running it. 

Hope this helps a little bit, as you continue to review deals and consider purchasing turnkey.  One last thing is always think about the economies of scale you should be able to capture if you are working or engaging with a quality or well organized turnkey provider.

Hi Guys-

What is the subject matter for this Meet-Up would be instructed in joining.

SG

Awesome post! Thank you, this really helps define some of the trending that is happening now. I noticed someone placed a heat map on the post, it was interesting to see that the more stable markets were consistent but not booming necessarily. As I review the analytics, the larger ROI was in higher risk assets, it is a little more risk than I personally would like to have with SFR rentals. I prefer the $1000+ mark, simply because I have noticed over time and with experience that the renters tend to stay longer and ar better quality.

Have you considered the Cleveland market, good opportunities in high grade B areas with average rent @ $1,000.00. Everyone has specific parameters what they are seeking, if you are looking for turnkey under $100K with $1000+ rent fully rehabbed with management service included, tenant already placed and cash flowing now, I would encourage to inbox me and we can discuss further.

Check into Cleveland, I think you will be happy you did.