Dave Payerchin is the co-founding partner of Columbus Turnkey Houses. He’s been in this business since 2005 and started out as a buy-and-hold investor. On today’s show, he shares what you need to know before buying your first turnkey property. Don’t get suckered into buying from someone who is just a middleman finding properties on the MLS, you’re not going to get good cash returns!
- Dave shares a little bit about himself and his business.
- Dave and his business partner started this business as landlords first (buy and hold), so they’ve become very familiar with landlord and tenant laws.
- What is a turnkey property?
- Who are Dave’s clients typically?
- Key point: If you’re looking to buy a turnkey property, make sure you work with someone who has managed the rehab and tenant placement. Don’t work with middleman parties who just find deals from the MLS!
- Dave explains the difference between A, B, and C class properties and why they matter for turnkey.
- What property class makes sense to pursue in a case like this?
- Never buy a property if it doesn’t come with an inspection report. Get a third party, licensed, inspection report!
- Make sure you know who is managing your property. You want to keep your turnkey provider accountable.
Mentioned in This Episode:
“We seek opportunities to add and create value and we fill those needs.”
“Never buy a property if it doesn’t come with an inspection report.”
“I encourage people to stay away from buying properties at seminars and hotel ballrooms.”
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