What are your thoughts on turnkey rental properties? [Ask Coach]

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Episode 212 - What are Coach Carson's thoughts on turnkey rental property companies? That's the question Coach tackles in this episode of Ask Coach.

TIMESTAMPS:
0:00 - Intro
1:01 - What is turnkey?
2:13 - Challenges of turnkey
3:21 - When you buy, you take ALL the risks
4:50 - Always remember the fundamentals
9:30 - Turnkey is 1 way to buy properties

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[vlopez]

Thank you for the content! Would love to get a list of quality turnkey companies you’d recommend, or at least recommend doing diligence on. Thank you

[ccbruin]

I’ve purchased multiple turnkeys and I agree with all of this. The key (pun intended) with the whole transaction is “trust, but verify”. Profit won’t be quite as good as if you find your own deals, but as long as you vet every arm of that turnkey operator there’s plenty of profit out there.

[danieldugan]

Morris invest has been amazing for me. They are a full service company. They build new houses and by the time you close they have a renter already in the house for you. They cash flow every time and the property managers take care of everything. I am working on buying my third house from them.

[pweey]

Could you do a review on syndication/crowdfunding? Ex: cardonecapital, holdfolio, etc that uses k1 instead of dividend?

[davidstephens]

Turnkeys are properties that have been purchased, rehabbed, rented, property managed and your job as the investor is to pay for all of repairs that didn't get done.

[pinnacletrade]

Great tips coach! Ty! What are u thoughts on ROOFSTOCK?

[AMeierhoefer]

Good video, coach. I have purchased all my properties turnkey and there is a psychological aspect you did not touch on that brings balance to the deal. I wish you would have mentioned appraisals in the video as those are actually providing a good check on a deal. I don't agree that a good deal is automatically better when you do it yourself. People who are not experienced in the renovation are much more likely to miss things or screw stuff up to go river budget than a turnkey company ever will be. If you ever like to do an episode on this topic, let me know I'll be happy to come on and discuss for your audience

[MJ-xkiu]

The goal is to get consistent cashflow

[MrRwolanow]

Coach, your opinion or experience protecting your assets with an LLC? It is my understanding that get a loan from a lender as an LLC is more difficult. Is it true?
Thank you