#217: Turnkey RE mistakes to avoid are discussed.

Turnkey means “all-done-for-you”. You’re buying property already rehabbed, tenanted, and under management.

You’ve outsourced work and sweat equity.

Turnkey pros: less time, less rehab risk, instant income, built-in management.

Turnkey cons: less rehab control, no sweat equity.

Just because a company is called “turnkey” does not make them a good operator.

I tell you how to reduce property repair costs.

Today’s guests, Terry Kerr and Liz Nowlin of Memphis, TN’s Mid South Home Buyers, are exemplary turnkey providers.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Listen to this week’s show and learn:

03:34 Turnkey does not mean “completely uninvolved”.

04:12 Control.

07:22 Unethical operator tactics.

09:02 Inspections.

09:43 Management.

13:05 How to reduce repair costs - insurance claim, warranty.

14:56 Pros of turnkey.

19:49 Why Memphis?

24:14 Rent amount, occupancy rate.

26:53 Integrated business.

29:37 Extent of rehabilitation, management.

33:15 Guarantees.

37:12 Rent $750, purchase price $70,000.

Resources mentioned:

MidSouthHomeBuyers.com

QRP: TotalControlFinancial.com

GRE Book: GetRichEducation.com/Book

Chargers Phase One: Bolts Will Become Hard to Break