For all you wanting to invest in turnkey rental properties, I have created Turnkey Interviews.  In these interviews, I pose 10 great questions to actual investors who have and/or are currently buying turnkey rentals.   I post a lot about my own turnkey experiences and also want for you to get some valuable information from others as well who are doing the same thing.  I strongly feel that investing with turnkeys is a great way to reach financial freedom if done properly.   My plan to retire early will greatly be dependent on the passive income I make from rental properties.

If you have purchased a turnkey rental property and would like to be interviewed.  Please contact me and we can coordinate it.  Thanks so much.   I really think us turnkey buyers need to stick together and share as much as we can from each other in order to have the best chances to succeed.

Turnkey Interview #1 with Kenyon Meadows

1. What led you to start buying turnkey rentals?

– A very active real estate investor that I had done some private lending to turned me on to the idea. She and her husband were using private money in order to expand their single family rental portfolio and told me about the advantages of owning the property as opposed to loaning on it. I had all the usual reservations including concerns over how time intensive it may be, but she reassured me that my involvement would be minimal with her supervising all phases of the process from property sourcing, renovation, tenant placement, and ongoing management.

2. When did you start buying turnkey properties?

– I bought my first property in June 2014, and a second property in March 2015.

3. How man turnkey houses do you own?

– 2

4. Are you planning on buying more turnkeys?

– Yes, at a pace of 1-2 properties per year.

5. What kind of returns are you getting on your turnkeys?

– Cash on cash of approximately 11.5%

6. What cities are your turnkeys in and do you plan on venturing out to different cities?

– Jacksonville Florida in working class neighborhoods.

Not in the foreseeable future. Jacksonville is approximately an hour away from me, and I like having the relatively easy option of going by to see the properties every other month or so. Additionally my turnkey provider has extensive knowledge of that market, and can supply me with good candidate properties at a frequency that we’ll fit my needs.

7. Are you happy with the PM that was provided with the turnkey?

– Yes

8. Have you had any bad experiences with any of your turnkeys? Either with the purchasing process or after?

– The properties themselves have been fine. As a routine, the major items such as the roof, HVAC, plumbing etc. were all renovated prior to placing the tenant. The one tenant has had some tardiness issues with payment, but other than that things have been relatively smooth.

9. Do you have any advice for others looking to venture into out-of-state turnkeys?

– I would choose criteria for the city based off good macro economic data such as a demographic trends, and job growth.
Since you are going to be at a large distance from your properties, you want to minimize the likelihood of problems. That means buying properties that have been appropriately rehabilitated, in decent neighborhoods with good schools to attract a higher caliber of stable tenants.

10. Overall, are you happy with the investment?

– Yes, I a.m. I would recommend it for people willing to do the appropriate amount of homework.

This concludes the Interview.  If you would like to contact Kenyon, see below:

Kenyon Meadows M.D.
President Meadows Enterprises

Meadows Enterprises Incorporated invest in alternative assets that provide regular recurring cash flow. This includes but is not limited to: Rental property, mortgage notes, real estate crowdfunding, small business loans, and peer-to-peer lending.

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