Investing in a turnkey property is not for everyone. Is it right for you?
If you have researched investing in real estate then there is a chance that you might have to stumble upon turnkey properties. By turnkey properties, we mean ready-to-rent properties that need no renovation or extra work.
You only need to turn in your key to enter the front door and your tenants can start living there. Turnkey properties are easy to work with but require a little more investment. Now that you are familiar with turnkey property to understand whether you are the right fit for this investment you need to understand the types of turnkey properties available in the market.
Types of Turnkey Properties
When searching for turnkey properties you will come across traditional and non-traditional turnkey properties investment. Both of them are similar to each other but have a completely different process of renting.
- Non-Traditional Turnkey Company – The non-traditional turnkey companies are relatively similar to the traditional turnkey companies. The only major difference is that they only focus on renovation, acquisition, and selling the company. These do not offer in-house property management services. Then these companies list their properties on online selling platforms to market the property and get their hands-on buyers.
- Traditional Turnkey Company – In the traditional method turnkey corporations get fixer-upper houses at relatively lower prices than the market. Then these companies renovate every portion of the house including electric and plumbing systems, flooring, kitchen, and walls. After the makeover, they sell the property to investors looking for a rent-ready home. In North Carolina and other states, some companies even go as far as they evaluate the tenants and maintain the property for their investors.
Now that you are familiar with the two types of turnkey companies let’s take a look at whether this investment is for you.
Is a Turnkey Property Right for You?
There is not a fic answer to this question, but we have narrowed down some aspects that can guide if this investment is for you. Following the two major deciding factors that are going to sign that this investment is perfect for you:
- If you are looking for a property to rent out immediately from day one
- You have cash available to invest immediately
- And you don’t want to get involved in the renovation process
Then Turnkey property investment is perfect for you. You don’t have to do anything. Just invest some cash and you will get the return in the future. If you want to get tenants immediately but want to be a part of the renovation scheme as well then you can do that as well.
A turnkey property is a shortcut to get into the real estate market especially if you don’t live near the market area or cannot invest too much to get to know the area and start investing after that. Just make sure that the deal you get is profitable and you are good to go.
Where to get your Turnkey property
With a lot of platforms available to get your turnkey property, it gets hard to choose which one you should decide from. This is where the Turnkey Military comes into action, they provide renovated houses ready to rent and this ensures a passive cash flow. Their deals are hard to pass and worth checking out.
Whether you stay away from the market area, looking for a ready-to-rent property, or just want a shortcut to get into real estate investment you should consider turnkey property investment. It is efficient, easy to get into just requires a little bit more investment compared to real estate.
Check out Turnkey Military to find yourself suitable Turnkey properties near you in North Carolina.