Looking For Turn Key Real Estate Investing

[scratchdisk]

Hello Everyone!

Does anyone have experience investing with an out of state turn key real estate group? I have a couple of properties in my local area (Portland, OR), and plan to diversify into another city. I'm looking for a company that will source/broker the property, handle any rehab if needed, then act as property manager. Thanks in advance.

 

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[LateStarter]

Send me a check and I'll find something for you. What kind of return were you looking for? And how big is your wallet? Only 1/2 kidding.

Why not just invest in a REIT at that point?

 

[Marylynn]

I own a couple commercial properties and decided to liquidate my residential to use for reinvestment. Although I did not like having an out of state residential property, I felt it made sense to diversify. I decided to investigate this "turn-key" investing. I have probably talked to 90% of them and several clients of theirs. My issue is the numbers represented are not realistic with respect that they do not account for the true vacancy or maintenance expenses, often are purchased in bulk wholesale then presented as overpriced to the investor. I love the "idea" of passive investing, yet find they are merely selling a dream and not the reality. That being said, I have only been an investor on my own and not through a turn-key group. Maybe I am just being cynical, but I just have not heard any rave reviews nor can see the actuality on the numbers from my experiences.

 

[scratchdisk]

Send me a check and I'll find something for you. What kind of return were you looking for? And how big is your wallet? Only 1/2 kidding.

Why not just invest in a REIT at that point?

Thanks for the reply, I prefer to own the actual property instead of a fund, more control.

I own a couple commercial properties and decided to liquidate my residential to use for reinvestment. Although I did not like having an out of state residential property, I felt it made sense to diversify. I decided to investigate this "turn-key" investing. I have probably talked to 90% of them and several clients of theirs. My issue is the numbers represented are not realistic with respect that they do not account for the true vacancy or maintenance expenses, often are purchased in bulk wholesale then presented as overpriced to the investor. I love the "idea" of passive investing, yet find they are merely selling a dream and not the reality. That being said, I have only been an investor on my own and not through a turn-key group. Maybe I am just being cynical, but I just have not heard any rave reviews nor can see the actuality on the numbers from my experiences.

Thank you very much for your response. I've been in contact with these guys for a bit http://www.holtonwisepropertygroup.com/ and the reports they send seem really good. Part of me thinks its too good to be true. Im also not too sure about Cleveland.The two rentals I've put together in Portland are profitable, but they were a lot of work. Probably the best thing to do is to try to find a great property manager in the city I want to invest in.

 

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[jon.a]

Hello Everyone!

Does anyone have experience investing with an out of state turn key real estate group? I have a couple of properties in my local area (Portland, OR), and plan to diversify into another city. I'm looking for a company that will source/broker the property, handle any rehab if needed, then act as property manager. Thanks in advance.

I've always felt like these brokers would be saving the best deals for themselves, their family's and their friends. Where does that leave you?

 

[H. Palmer]

There are many turn key real estate companies around.

Mid South Home Buyers is one of those well recommended.
Featured regularly on the RE Guys Radio Show.

They operate out of Memphis which is widely considered one of the best RE rental markets worldwide.

Always do your due diligence though.

 

[BrandonS85]

I've thought about selling turnkey properties, but the question always comes back to "Why".

Why would I want to take the best properties I have and sell them to a out of state investor? Well, the answer is I simply wouldn't.

There are some guys out there that love churn-n-burn. They'll take a dog, put some lipstick in it, put a random tenant in and call it a day. It's very hard to say whether the house will fall apart in 2-3 years, or the tenant will tear it up, but if they can sell it for a 50% over their markup, why not?

If I was a out of state investor, I'd look at finding a real estate agent or project manager that was capable of doing what I wanted, then hiring them to go out, find the deals, rehab and turn over to the best property manager in the area. Then it may make sense. The turnkey guys are just worried about the markup, much less so than the quality.

 

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[Chitown]

Hello Everyone!

Does anyone have experience investing with an out of state turn key real estate group? I have a couple of properties in my local area (Portland, OR), and plan to diversify into another city. I'm looking for a company that will source/broker the property, handle any rehab if needed, then act as property manager. Thanks in advance.

@scratchdisk,

Check out MemphisInvest. Hope that helps!

 

[Rubin]

Hello Everyone!

Does anyone have experience investing with an out of state turn key real estate group? I have a couple of properties in my local area (Portland, OR), and plan to diversify into another city. I'm looking for a company that will source/broker the property, handle any rehab if needed, then act as property manager. Thanks in advance.

Hi there,

I personally believe that a good broker of the properties and cost effective is internet. So, before choosing an agency I believe that a good way to start is having a partner platform, to have your space in internet for your properties. After that, a good step is choosing an agency and instead of your contact to publish in internet the contacts of your agency.

An international space gives you benefit to international clients and most of the time they are cost effective.

 

[jon.a]

Hi there,

I personally believe that a good broker of the properties and cost effective is internet. So, before choosing an agency I believe that a good way to start is having a partner platform, to have your space in internet for your properties. After that, a good step is choosing an agency and instead of your contact to publish in internet the contacts of your agency.

An international space gives you benefit to international clients and most of the time they are cost effective.

what?

 

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[JustAskBenWhy]

Are you a thrill seeker, or just like to loose

 

[mikey3times]

@Investfourmore

 

[JustAskBenWhy]

Read this: https://www.biggerpockets.com/forums/48/topics/241462-fraud-with-our-birmingham-turnkey-property

And this: https://www.biggerpockets.com/forum...nce-as-a-landlord-do-you-need-for-credibility

Good Luck!

 

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