When it comes to your turnkey company, you want more than just a real estate broker. In fact, that’s not really what you’re looking for at all.
There are many things we believe a turnkey company should do and be for their investors. If you want to find success in turnkey real estate investment, look for these four factors—four roles—that your provider plays.
We have developed these criteria based on our first-hand experience over our 15-plus years of working with our investors, rehabbing thousands of properties, and bringing a top-notch turnkey experience in our growing numbers of investment markets.
Upfront, we tell anyone interested in investing in turnkey real estate that we are in the business of building portfolios, not merely selling properties to investors. This is something important to look for when you’re shopping around for a turnkey partner, because you don’t want a company that is there just so they can make money off of you in a real estate transaction. You want to find a company that is actually investing in you and in your long-term success.
You want someone who focuses on the portfolio building aspect, someone who values diversity in their market and property offerings, and someone who will help you strategize and grow in a way that makes sense for you. Are they going to help you mitigate risk? Will they prioritize the growth of your wealth? These are questions that need careful consideration.
Good turnkey companies want their investors to grow more knowledgeable and comfortable with the investment process. They don’t want their investors to stay in the dark or to feel inferior or uninformed. A bad turnkey provider may think this is a good strategy because it allows them to pull a fast one on people who may not know better. But a good turnkey company knows that empowered, educated investors are best equipped to make decisions for their financial future. They are more confident to make those “level jumps” and acquire more properties and make the deals that other people might not.
So here’s the question: do you feel like your turnkey investment company is transparent? Do they readily provide materials, answer questions, and keep you informed? Do they want to help you reach your potential as an investor? Or do they seem to want to keep you in the dark?
A good turnkey real estate company is more than just someone who helps you buy rental properties, build a portfolio, or even just learn how to invest. Because you’re dealing with something as big and important as your financial future, you should be working with people who actually care about you and your concerns.
If you don’t feel like you are heard or that your concerns are often brushed off, you're probably not working with the right people. Your turnkey provider should tailor your investment experience to your needs. While your vision and strategy should line up with what the turnkey company actually offers, they shouldn’t be trying to fit a square peg into a round hole by forcing you into decisions prematurely or ignoring questions and concerns.
A good turnkey provider anticipates needs by keeping investors informed and by building genuine relationships. They know what you value and what you need because they actually know you and respect you. If you feel anxious or worried, they should take the time to go over your areas of concern and come up with a solution.
Lastly, you need a turnkey company who is in it for the long haul. At Memphis Invest, for example, our customer service representatives stay with their investors for years. As long as those investors are with us, that representative is with them. Not only do we work to build a successful real estate portfolio for them, but we work to build a meaningful, trusting relationship with our investors. We know how important trust is, and how especially critical it is when we’re dealing with someone’s financial future.
Your turnkey provider has to look out for you. Would you hand them the keys to your future? Maybe not right away—you likely would have to let them earn that honor. It becomes evident over time. Are they in this as your teammate, investing in you not as another name in a spreadsheet or paycheck in the bank, but as a person with hopes, ambitions, and dreams?
This is what you need in a turnkey real estate provider. Someone who not only has the expertise and knowledge to help you build a truly worthwhile real estate investment portfolio but someone with the care and willingness to know their investors on a personal, relational level.
It is only on this personal level of engagement that investors and turnkey companies work together in a way that truly works. Only then can passive investors maximize their potential and wealth.
Join Memphis Invest and start building your successful turnkey real estate portfolio today.