COACH NARESH VISSA
Most GRE listeners know the GRE axiom, “Do the right thing, before you do things right.” Don’t let perfection be the enemy of good, but if you can do the right thing the right way, on your first try—you should!
GRE coaching holds your hand through the process of buying your first investment property. If you’re a more experienced investor, GRE coaching helps you assess and evaluate the GRE income-property inventory, to help you decide which geographies are most conducive to your goals.
Don’t let uncertainty prevent you from taking action, GRE coaching is free.
Due to ever-changing inventory, many offers are exclusively available through GRE coaching. Access off-market deals by getting in touch with GRE’s Investment Coach, Naresh Vissa.
You’ll get free help along your journey from: making the offer, submitting earnest money, inspection, appraisal, your management agreement, closing day, and more.
Naresh Vissa is GRE’s investment coach and an active real estate investor—like a buff personal trainer, he practices what he preaches.
Naresh helps beginner investors understand the process of acquiring rental property and he helps veteran investors optimize their strategy.
If you’d like help understanding turnkey real estate investing, from financing, to 1031 trade-ups and more, utilize the free GRE investment coaching, with Naresh.
Certain GRE inventory is especially dynamic with new offerings continuously coming online and quickly selling out. You can also call or email Naresh to discuss off-market deals.
Prior to contacting this provider, if you plan on conventional financing, please consider the following. You will likely need:
• A down payment of at least 20% for single-family homes and 25% for multi-families
• A low debt-to-income ratio
• 2 years of job history with a U.S. company or 2 years of self-employment history
• Six months of reserve funds
• A credit score of at least 680 (higher, is ideal)
In order to prepare for your pre-approval, start gathering the following documents. Your lender may require more documentation, but you should be ready to provide copies of these documents, at a minimum:
• Last 2 paystubs
• Last 2 months of bank statements (all pages should be included)
• Last 2 years of tax returns and W2s
What is turnkey?
The word turnkey has been around for about 20 years in the real estate industry. It’s origin lies in the building industry, where custom home builders would advertise their deliverable as turnkey: you don’t need to do anything yourself other than turn the key and move in.
The distinction is important: leaving loose ends at the end of a project for the owner to deal with is just bad construction—hanging sconces in the hallway and toilet paper holders in the bathroom is best left to the professionals. Turnkey properties are ready to move into.
Turnkey real estate investing began with companies who would renovate homes completely (rehab properties), sell them to investors, and offer the owners property management for that home. The shortage of housing supply has led more and more companies to build brand new homes for this purpose (build-to-rent), and both types are prevalent today.
Three things make a proper a turnkey investment:
- Ready to move into (100% renovated or brand new and 100% finished)
- Occupied by a tenant
- Managed by a professional property manager
Professional management is optional but highly recommended by most investors. The best case scenario is when the same company who renovated the property manages it (or they are sister companies) because, especially with renovated properties, the expertise won through the renovation process translates to an intimate understanding of the building and its maintenance needs for the future.
Most turnkey rental renovations include all major capital expenditure maintenance items such as the roof, HVAC system, kitchen appliances, and the all-important heating system. The lifespan of these items, 10-15 years, usually extends beyond an investor’s hold time, typically 7-10 years.