All Forum Posts by: Tom Ott

If you're planning to invest in turnkey real estate, there's a lot you need to learn. Turnkey real estate investment is a lot more complex than investing in stocks and due to the legal, financial, and other requirements involved. Therefore, it is a good idea to educate yourself before you make your first turnkey real estate investment.

5 Keys to Turnkey Real Estate Investing

1. Write Down Your Goals

Planning and setting your goals are significant aspects of making your first turnkey real estate investment successful. After all, the real estate market can be unpredictable and wavering. Unless you have a solid strategy and goals in place, decisions made in haste can paralyze your investment plan.

The best way to compile your turnkey real estate investment goals is to ask yourself certain questions such as:

1. Once I invest in the first turnkey property, what will be my next step?
2. What is my ultimate plan?
3. Do I want to invest in more than one turnkey property?
4. What is my fiscal ambition in 2019?
5. What’s my long-term plan?

Look within yourself and write down everything. This is a good exercise to decide if your turnkey real estate investment goals are realistic.

2. Explore Markets of Interest

More than ever, real estate markets across the country are diversified. They're rising and declining, growing at varied speeds, and poised for turnkey real estate investment opportunity and exponential growth. As a turnkey real estate investor, it's critical to research potential markets of interest and their current standing in the industry and where they're heading.

This is especially vital if you’re planning to make your first turnkey real estate investment in 2019. Since each turnkey property paves the way for the next purchase, timely success translates into long-term growth scope.

3. Organize Your Investments Well

Turnkey real estate investment is similar to running a business. Therefore, it is important to ensure that you have a well-planned system in place to manage your investments and new revenue sources. You can consider the following options:

-Digital and physical tax filing systems
-Bank accounts
-Voicemail and phone systems
-Dedicated turnkey investment email accounts
-P.O. boxes

While you may find some of these unnecessary, it’s best to have them at the initial stage rather than facing issues with your turnkey real estate investment business later on down the road.

4. Build an Investor’s Routine

Even the busiest real estate investors schedule and dedicate enough time for their turnkey real estate investments. So, what exactly does an investor’s routine mean? It can be exploring new turnkey investment strategies, collaborating with other turnkey investors, exploring new markets and opportunities, reading turnkey real estate whitepapers, etc. There are thousands of free resources available online.

5. Work With an Expert Turnkey Partner

It’s a great idea to work with a turnkey partner, especially if it’s your first turnkey real estate investment. Turnkey partners support your goals and help you invest your money in a way that makes it grow steadily. While turnkey real estate is one of the best markets to diversify your investment portfolio, it can be a little intimidating at times. Turnkey partners provide exceptional services to help you succeed and achieve your turnkey investment goals. Once you have a clear vision, your turnkey partner can join hands with you to help you move in the right direction as a turnkey investor.

 I would probably start with 1 and then get more aggressive if it works out. You will want to find a good Turnkey Provider you can trust. I wouldn't throw my money at 10 houses without first testing the Provider to see how well they do. 

 Hello and welcome! Best of luck to you! 

 POS inspections can be a pain, but they also do have their pros as you mentioned. It helps keep older cities looking nice, but can be annoying when you want to sell the property. The good news is after you have it cleared you are fine until you want to sell it again. Some inspections can be worse than others. Many homeowners have actually been challenging them in courts. Some cities, like Bedford, put a hold on their's and refunded homeowners.  They are very old-school and I feel they will one day disappear. 

If you're planning to invest in turnkey real estate, there's a lot you need to learn. Turnkey real estate investment is a lot more complex than investing in stocks and due to the legal, financial, and other requirements involved. Therefore, it is a good idea to educate yourself before you make your first turnkey real estate investment.

5 Keys to Turnkey Real Estate Investing

1. Write Down Your Goals

Planning and setting your goals are significant aspects of making your first turnkey real estate investment successful. After all, the real estate market can be unpredictable and wavering. Unless you have a solid strategy and goals in place, decisions made in haste can paralyze your investment plan.

The best way to compile your turnkey real estate investment goals is to ask yourself certain questions such as:

1. Once I invest in the first turnkey property, what will be my next step?
2. What is my ultimate plan?
3. Do I want to invest in more than one turnkey property?
4. What is my fiscal ambition in 2019?
5. What’s my long-term plan?

Look within yourself and write down everything. This is a good exercise to decide if your turnkey real estate investment goals are realistic.

2. Explore Markets of Interest

More than ever, real estate markets across the country are diversified. They're rising and declining, growing at varied speeds, and poised for turnkey real estate investment opportunity and exponential growth. As a turnkey real estate investor, it's critical to research potential markets of interest and their current standing in the industry and where they're heading.

This is especially vital if you’re planning to make your first turnkey real estate investment in 2019. Since each turnkey property paves the way for the next purchase, timely success translates into long-term growth scope.

3. Organize Your Investments Well

Turnkey real estate investment is similar to running a business. Therefore, it is important to ensure that you have a well-planned system in place to manage your investments and new revenue sources. You can consider the following options:

-Digital and physical tax filing systems
-Bank accounts
-Voicemail and phone systems
-Dedicated turnkey investment email accounts
-P.O. boxes

While you may find some of these unnecessary, it’s best to have them at the initial stage rather than facing issues with your turnkey real estate investment business later on down the road.

4. Build an Investor’s Routine

Even the busiest real estate investors schedule and dedicate enough time for their turnkey real estate investments. So, what exactly does an investor’s routine mean? It can be exploring new turnkey investment strategies, collaborating with other turnkey investors, exploring new markets and opportunities, reading turnkey real estate whitepapers, etc. There are thousands of free resources available online.

5. Work With an Expert Turnkey Partner

It’s a great idea to work with a turnkey partner, especially if it’s your first turnkey real estate investment. Turnkey partners support your goals and help you invest your money in a way that makes it grow steadily. While turnkey real estate is one of the best markets to diversify your investment portfolio, it can be a little intimidating at times. Turnkey partners provide exceptional services to help you succeed and achieve your turnkey investment goals. Once you have a clear vision, your turnkey partner can join hands with you to help you move in the right direction as a turnkey investor.

Cleveland Heights is a solid area. I agree that although there can be a lot of hassle with the POS and registrations, it is worth it. Cleveland Heights has a very high demand for rentals and the rents alone keep going up the taxes have become so much less of a problem than they used to be.

 I would for sure try to make sure they are a TRUE Turnkey Company. By this I mean they need to OWN the property first and not simply just act as a listing agent. They should also do all of the renovations in-house, place a tenant prior to closing, and they should also do the management in-house, and NOT use some third-party company you have never heard of.

For more info, try looking at: 

What to Ask When Working With a Turnkey Provider


Assessing the Risk of a Turnkey Real Estate Company

 It probably just depends on so many factors. Many tenants treat MF like an apartment so that may mean you could see a lot of costly move-outs. It also depends on the water meter situation. Some MFs only have one meter and you may be paying all of the overages. Also, as the owner you need to pay for the grass cutting and the snow removal. You don't need to deal with that with SFRs. 

Single Family vs. Multi-Family Investments

 Hello and welcome! Best of luck to you! 

 Many investors looking OOS tend to look at the Midwest where prices are low, but the rents are still high. They also tend to use Turnkey Providers so everything is done for them. The idea is that they are passive and the investor is working for you on day 1.