By Bruce Kellogg
Evaluating Turnkey Rentals
A major trend in real estate has developed where investors around the nation seek distressed properties in key markets regardless of distance. They purchase dilapidated assets to rehab, add value, and build wealth. Experienced investors tend to discover the hard way that it’s one thing to rehab locally, yet an entirely different experience to do so long distance.
For those who cannot afford to purchase nearby, the risks in rehabbing in a new area with few contacts or little direction increase tremendously.
Norada Real Estate Investments
The other approach an investor can take is to select a high-quality turnkey provider and invest with their help. Norada Real Estate Investments is one of the longest-running nationwide providers with a great industry reputation.
Meet Marco Santarelli
Marco Santarelli made his first real estate investment at age 18, and he founded Norada Real Estate Investments in 2003. This means that he progressed through the Great Recession of 2008, unlike many turnkey property providers. He has become a nationwide provider of turnkey cash flow investment properties. He says his mission “is to help one million people create wealth and passive income and put them on the path to financial freedom with real estate.”
Mr. Santarelli is a licensed California real estate broker. For over 5 years he has been the host of the Passive Real Estate Investing Show with over 250 episodes to-date. The show airs weekly and can be found on every podcast platform including iTunes, Google Podcast, iHeart Radio, as well as www.PassiveRealEstateInvesting.com.
This format allows the listener to learn, then jump off if they aren’t ready to invest at the time. Other podcasters often persist with a blaring selling message, but Mr. Santarelli is more respectful of his listeners’ time.
Mr. Santarelli has also produced the 40-page e-book, The Ultimate Guide to Passive Real Estate Investing, which covers the subject very well and makes a great primer for new and seasoned real estate investors.
Norada Real Estate Investments
The Norada website features over 25 markets where Norada offers investment properties. Surely, readers would like to know which markets Norada favors for the second half of 2020, and why. They publish regular updates on their website on the best markets to invest in today.
Norada’s website has 13 frequently-asked-questions (FAQ’s) that are as comprehensive and clear as the author has seen. Additionally, the properties presented on the website contain all of the important items that an investor needs for successful decision-making.
Many turnkey vendors leave out a vacancy factor, or maintenance expense, or post unrealistically low amounts to pump up the cash flow results, and this is done intentionally. (See my article in the second paragraph for details) Norada strives for accuracy in their property presentations.
Risk and Reward
In the end, when you buy a turnkey, you get a like-new property with a paying tenant, hundreds of miles from where you are. That’s why it is crucially important to deal with a long-term, successful turnkey provider who looks forward to earning your repeat business.
BRUCE KELLOGG
Bruce Kellogg has been a REALTOR® and investor for 38 years. He has transacted about 800 properties in 12 California counties. These include 1-4 units, 5+ apartments, offices, mixed-use buildings, land, lots, mobile homes, cabins, and churches.
Mr. Kellogg is a contributor and copy editor for two national real estate wealth-building magazines: Realty411 and REI Wealth. He is a recipient of an Albert Nelson Marquis Lifetime Achievement Award, listed in Who’s Who in America – 2019.
He is available for consulting with syndication, turnkey, joint-venture, and other property purchasers and note investors nationally, and other consulting assignments. Reach him at [email protected] or (408) 489-0131.
