How to Invest in Long-distance Turn-key Rental Properties


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50 thoughts on “How to Invest in Long-distance Turn-key Rental Properties”

    • Mark
      I am me to your site but I find your information to be invaluable. I personally have purchased 18 homes in the last 13 months and done most of the work my self. A lot of long days and 7 day weeks later and I have a portfolio of 18 homes with 17 rented. The last one is almost completed and will be rented by February 1. The biggest challenge I am having is getting financing to grow this business even further. I have spoken to a few lenders but I think my best option may be to cash out and start over. I could use the proceeds to buy even more properties. Thoughts?

        • Thanks Mark. I have gotten term sheets from B2R and Rental Home Financing. Aside from being expensive, they are really Balloon loans. I would like to know that I have financing in place for more than 5 years. I did get a letter of intent from First Key Lending and those guys seem to be the most like a bank, offering a true 30 yr fixed rate loan etc. I was wondering if you have ever heard of them? I hired a very good real estate attorney and he is looking over the docs, but every bit helps. I believe they are backed by Cerberus, the Pvt Equity Firm that once owned Chrysler. In any event, I think you provide a great service here, and if I could ever be of service to you in the NY/NJ/PA area please don’t hesitate to call. You can email me for my contact info, but I am registered on your site.

  1. Is buying turnkey property’s process differ from transitional sale? I heard that buyer need to ask prove of their rent and give that information to the bank for mortgage. I’m interested in buying turn key four plex and commercial building.
    James

  2. Good information Mark. I started a Property Management business in Atlanta 5 years ago to offset my Brokerage business as many of my clients/sellers were upside down, and needing to move. It has been a huge benefit for all involved. I currently manage 35 residential property’s and look to take on more each year. I would also suggest to realtors, to work rentals, gain that income to your business bottom line and make future clients out of the rental business.
    Robert Mason – RM Property Group.

  3. I have some great turn key rentals coming online out of State. I’m located in Denver, Colorado myself. However, I’m finding some amazing deals in Kansas City and St. Louis County, MO. These properties are cash flowing and have ROI’s over 15%.

    I agree, that at home is much more comfortable, but haven’t been able to find a rental in Denver, Colorado Springs or Fort Collins area with an ROI at even 10%. Sometimes to get a good return you do have leave your own back yard.

    Thanks, Andrea

  4. Mark, what is the turn key rental property company that will finance with 5% down? Are they specifically local to Colorado or are they nation wide? You can email me the info at [email protected] yahoo.com if you prefer. Thanks.

  5. Mark,

    I am eager to get into turnkey properties for cash flow. I have NO knowledge of how to get started other than the valuable information I just read in your article. As a new beginner, where do I start?

    Arthur

  6. Mark, could you please send me the name of the turn key company who will finance with 5% down? I understand that the interest rate will be much higher, but I have to start somewhere. Thanks!

  7. Mark,

    Your the first article I read about turn key and would like to get involved. Would you have information that you can send to a beginner as myself, such as turn key providers you have experience with?

    Thank you.

  8. Hi Mark et. al.,

    I am very confused about this turn-key rental. What do you mean by 10%-15% return? Meaning if I purchase a $100,000 home for 20% down associated with one of these people, I am looking at a $2000-$3000 per year profit in rental income?

    That’s a little depressing because it would take 24 properties for me to reach my monthly cash flow goals of $5000 mo.

    I have read many of your blogs but feel like I would really benefit from a skype or even phone call for 1-2 hours. What is your rate for consultation?

    I am living in Hollywood and manage vacation rentals here. I am from Michigan and my dad suggests I buy the condo next to him for $135,000 as it’s market value is supposedly $141,000 but he knows the seller. Rental is about $1275 per month, HOA $180, Taxes about $225 per year so with all factors on a 5% conventional loan (I wouldn’t mind living there the first year), I am still not gonna be making positive cash flow for years to come more than $50 or so. Bad move right?

    I need help making a plan and taking my first step. I plan to invest $20,000 – $30,000 per year into real estate but I don’t know how to get those $400-$500 per month positive cash flow properties in today’s market, plus, I’m not sure I have time for the research it would take in Michigan since I am usually not there.

    Can I hire you for a consult?

    Tobias

  9. Hi Mark,
    It is such a great article, first time I heard about turnkey investment and very interested in getting involved. Would you please forward me you turnkey preferred vendors to [email protected]? Thanks so much!

  10. Hey Mark,

    Great article, as always.
    Could you please pass along the turn key providers you have experience with?
    Much appreciated, keep up the great work!

    Thank you

  11. Great info. I am getting out of a long distance self managed property and looking to do a 1031 exchange. A turnkey sounds great, as I live in SoCal and cannot afford to buy here. Please send me your turn key providers Thank you!

  12. Can you please also send me info on the turn key providers? I currently live in SoCal and am in the process of relocating to NY. Neither location is ideal for rental investment so I am really looking forward to knowing more about this option. Thank you ahead!

  13. Thanks so much for the detailed write-up. Would it be possible for you to email me a list of your preferred turn-key vendors? I would really appreciate it!

  14. Mark, very new to the investment rentals. So new your podcast and blog are the first ones I am reading and learning about the rental game. I heard your podcast about Turn_Key rentals and would like to learn more. Can you send me turn-key providers.

  15. Hi Mark,

    Understand your 15th rental is a turnkey with AWB. In your experience with the company and given the ROI earned, do you plan to purchase another one?

    Ryan

    • It has done relatively well, it was vacant for a while and needed some repairs but they covered the costs since it was in the first year. I am not going to buy another turn key, but that is because this was more of a one off experiment with money I had in my IRA. I never planned to buy more than one from the beginning.

  16. Hello Mark,

    Not sure is you’re still monitoring this as it’s been a while since the last post…but I’d like to know if you have any information on turnkey rental companies in Colorado…specifically the Pueblo and/or Colorado Springs areas. You can email to [email protected].

    Thank you

  17. Mark, I’m new to the property investment. Could I get the contact information for the turn-key rental company you’ve been using?

  18. Hello Mark,
    I am thinking of buying most of your books as a package deal which is discounted so I can afford most of them at one time. Can you guide me where I can get the most discounted price so I have the ability to keep all of them in my library.
    Thank you

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