It is every real estate investor’s goal to purchase investment properties that make business sense. Making a sound decision for the right purchase is what really dictates the success of an investor, regardless if the investor is a newbie or an experienced one. Turnkey real estate investing can be one of the best options for an investment, more so if an investor does not have the time to manage the rental property or to complete any rehabs.
What is a turnkey property investment? We can define turnkey property investment as a property which has been already renovated. The property is intended either for re-sale or rental. It may sometimes have a tenant already living in it.
Investing in turnkey properties can be advantageous for investors who do not have time for rehabs as these types of property investments are all primed to start earning a profit immediately. It can be a source of passive income.
Turnkey properties are usually purchased by companies or a group of investors for a buy and hold long term basis. These groups of companies usually look for the right properties for flipping and renovating. Then, the home is rented out with the investor group or companies managing and acting as landlords.
Some investors prefer to invest in these types of properties due to numerous benefits.
Turnkey properties are already managed by companies, leading to the advantages listed here:
We’ve established the vast possibilities of passive income and the benefits of investing in turnkey properties. If you are a contractor looking for opportunities in this field, learn more here.