There are a lot of misconceptions surrounding turnkey properties. Read on and see how we debunk myths about turnkey properties
A turnkey property is an easy and profitable investment option. But many investors hold back from investing in turnkey real estate due to some common myths associated with them. To clear the air, we have listed down the common misconceptions about turnkey properties.
What Makes Turnkey Properties So Important?
Turnkey properties are an excellent real estate investment for people who are looking for a hassle-free and long term source of passive income. The biggest perk of turnkey properties is that you get a quick ROI. The cash flow starts in the first few months. Such a quick ROI is not possible with other real estate investments.
Common Misconceptions About Turnkey properties
- New investors may have many questions prior to investing in turnkey properties. There is a lot of information present on the internet and many resources to guide them about the process of investing. But how would they know which information is true and which is not?
If you’re new to the property investment business, you may come across false information on the internet or from your circle. This can make it difficult for you to separate facts from myths. Don’t let a few misconceptions change your mind about investing in a good turnkey property.
Let us get to the core of some common misconceptions about turnkey properties.
Turnkey Investments are Risky
- Practically speaking, any investment involves risk but considering all turnkey investments to be risky is wrong. You might have had a bad experience with some corporate investors that led you to believe so. In reality, turnkey real estate is an easy, effective, and safe investment option.
Take for e.g. the stock market which fluctuates the entire day. Turnkey investments are much safer and stable compared to the stock market. The turnkey investment business is developing slower but will become a preference for investors over time.
Your Wealth Will Skyrocket in No Time
- Some people assume that turnkey properties can make you rich in no time. Whereas real estate investments provide an effective way to increase wealth, this doesn’t happen overnight. Focus on long term financial planning rather than relying on a single investment.
Real estate properties become more valuable with time and can provide a higher return on your investment in the long run.
Turnkeys Don’t Do Well with Partnerships
- If you plan to expand your investment business, it is almost impossible to do it all by yourself. You can’t go long with limited experience, capital, credit, and time. It’s like you are risking your life savings in a casino.
Keep your options open and be flexible to utilize OPM (Other People’s Money) or OPT (Other People’s Time). Some people are of the opinion that turnkey properties don’t do well with partnerships but this is a fallacy.
Real Estate Experience is Necessary
- Turnkeys don’t require prior experience in real estate investments. In fact, turnkey properties are one of the best options for new investors. You can start off just by learning the basics of real estate investments.
Listen to some podcasts and read everything you can get your hands on. Basic knowledge of real estate is enough for you to get started. Turnkey real estate allows investors to see the benefits of a successful investment without understanding the complexity of each step.
Turnkeys are a Hassle
- Every investment takes time, effort, and capital to become profitable for you. It might take a bit of research, but that doesn’t mean it’s going to be a full-time job. There are many turnkey managers who can monitor and predict fluctuations in market conditions.
They can advise you to adjust your investment plans and maintain long-term investment targets according to these changes.
To sum it all, turnkey investments are an effective source of passive income. You don’t need years of real estate experience to make money. But instead of believing everything you hear, do your own research and learn the process. It will help you gain clarity and make your investment fruitful.
Turnkey Military is a trusted real estate company that deals in turnkey properties and turnkey homes across North Carolina.