This conversation has been very helpful in regards to depreciation and how it affects the deal, but I'm still confused as to why turnkey providers don't advertise maintenance and vacancy when selling their homes to investors?
Turnkey providers do all the work for you basically.
Since we are a smaller
turnkey provider we do not own the management company.
** Release control: IDEALLY:
The turnkey provider does 99 % of all the work.
Not exact matches
That doesn't mean they are not qualified companies, but after having been in the industry now for 15 years and been approached by every
provider big and small, I can state without a doubt that companies that have no business being in the
Turnkey space are being promoted and propped up for fees by
Turnkey provider companies.
I know other
turnkey providers offer this in various markets, so maybe one in KC if you don't want to be the one controlling the hammer - swingers, but I don't know any outside of the Philly and Baltimore with a proven track record.
Do not just blindly agree to use the property manager that comes wit the
turnkey provider.
If you are set on sticking to KC, I don't have options for this there, but I am working with a
turnkey provider in Philly and Baltimore that is offering the
turnkeys BRRRR - style.
But please
do a search on any
turnkey provider before you give them any money.
One thing I have found from some
turnkey providers (I don't say all because I haven't talked to all obviously) is that they buy properties for what could be pennies on the dollar, pour money into rehabbing, and then sell at a premium... so they're fix - and - flippers.
While not a true
turnkey provider, they are catering to out - of - state investors and
doing everything they can to reduce buyers» risk and uncertainty.
When you say «
turnkey» do you mean you are working with a Turnkey pr
turnkey»
do you mean you are working with a
Turnkey pr
Turnkey provider?
Does anyone (locally or nationally) have contact info for active
turnkey providers who sell properties in the Atlanta market?
I don't know of any MF
turnkey providers.
@ Hank Lee - I know of a
turnkey provider that
does multifamily.
Turnkey providers can be found in most major markets, and they will
do all they can to sell you a property in their area.
This podcast is more of a basic guide for investors looking to purchase from a
turnkey provider but many of the selling techniques can be
done even if you didn't buy from a
turnkey provider.
I wouldn't try and jump out of town just because you don't see any
turnkey providers there.
In
turnkey, the
provider does all that work, so they take that paycheck.
Also,
do you have any references to good
turnkey providers in those cities.
This doesn't mean that there aren't good
turnkey providers or that there aren't bad syndication
providers, just that the interests tend to be better aligned in syndications IMO.
I must advise that you must be very very careful... most of the people who claim to be
turnkey providers are mere marketers... I am speaking from personal experience and so you will need to
do your independent research to distil this.
Now you may think, this guy is an idiot who
did not buy the right properties from the right
turnkey providers.
Is it possible the
turnkey providers are selling inventory that local investors just don't want or at a price local investors aren't willing to pay?
Most
turnkey providers sell inventory that local investors, who have the local knowledge, don't want.
I'd then pose the question to investors «Is it remotely possible some
turnkey providers (offering property management), that sell the majority of their properties in unattractive areas, where maintenance and evictions are a much bigger issue,
do so because the money is made on the maintenance and evictions?»