A green flag is the opposite of a red flag. They indicate something positive and worthwhile! If you’re a passive real estate investor, especially one investing out-of-state, you must partner with the right people. Choosing a turnkey partner is no easy feat. After all, some of these companies lack experience, and others lack scruples.
At the end of the day, you’re putting your financial future in the hands of your turnkey partner. Do they deserve that kind of trust?
Here are a few signs that indicate a worthwhile turnkey real estate company!
Qualities to Look for in a Great Turnkey Real Estate Team
1. They have real experience
Experience in real estate investing is invaluable. For our part, REI Nation has been in business for twenty years and counting. We went through the Great Recession with our investors. We navigated the COVID-19 pandemic together. And we will continue to preserve through the ups and downs of the real estate market.
We can’t stress just how critical this experience is. It means a company isn’t just investing when things are easy. You need to know they can persevere despite challenges beyond their control. That’s the kind of partner you want in charge of your investments!
2. They invest alongside you
Do they believe in the model they’re selling? Turnkey providers that actively invest themselves – often holding active, income-generating properties before they sell to investors – clearly believe in what they’re doing. If they stand by their model and are willing to put their money where their mouth is, that’s a massive vote of confidence!
3. Their services are all in-house
Investment companies that outsource everything are a headache to deal with. Not only do investors have to put up with multiple points of contact, but it indicates a lack of experience on your partner’s part. Passive investors shouldn’t spend their time wondering who to call or juggling ten contacts. Services must be streamlined. You should have a single point of contact.
When things are in-house, it’s harder to lose track of information and easier to stay in the know. They can better regulate the quality of consistency of their services and ease the burden on the individual investor. And shouldn’t every turnkey company want to operate like that?
4. They are honest about—and learn from—their mistakes
When you hire a turnkey partner, you’re leveraging their expertise. Do you really want to do business with someone who claims they’ve never made a mistake? Failures are growth opportunities. They’re a chance to learn, overcome, and return better than before. You want a company that can tell you where they’ve gone wrong and how they’ve changed their operations to ensure those mistakes don’t happen again.
5. They remain focused on your growth
Passive investors are looking to free up their time while building their wealth. The ideal turnkey partner knows this. They don’t waste your time. More than that, they actively pursue and invest in your portfolio. They provide realistic guidance. Turnkey companies only there for a transactional relationship aren’t worth your time.
Your partner should strive to build a lasting business relationship with you. They should help you make wise decisions to facilitate portfolio growth.
6. They invest in providing you relevant resources
Lastly, excellent turnkey providers don’t gatekeep knowledge. They’re not trying to keep you in the dark. Instead, they know that an informed investor makes better decisions, asks better questions, and mitigates risk. Do they answer your questions in a clear, detailed manner? Or are they hiding behind vague statements and opaque industry jargon? Do they provide educational resources to empower investors to choose the right strategy for themselves, or do they try to make the sale at any cost?
Reputable turnkey providers want their partners to be equipped with quality information. They know it makes them a better, more effective partner when you can clearly express your goals, ask pointed questions, and confidently navigate the world of real estate investing.
Whoever you partner with, do your due diligence first. Ask uncomfortable questions. Be direct about your goals and expectations for the partnership. This is your financial future! Your turnkey partner can be a gamble and a risk, or they can drive your success to heights you never anticipated.
Don’t take anything on blind faith!
Buy the right property in the right market with the right team.