217: Passive Real Estate Investing - Pros & Cons

#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 Field verification: WeGoLook.com Mortgage Loans: RidgeLendingGroup.com Cash Flow Banking: ProducersWealth.com Turnkey RE: NoradaRealEstate.com QRP: TotalControlFinancial.com Find Properties: GREturnkey.com GRE Book: GetRichEducation.com/Book