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Updated about 6 years ago on . Most recent reply
Turnkey Investment Properties
As a newbie investor in Columbus, Ohio, I have a question. Are turnkey investment properties a good place to start?
The reason that I ask is because they seem to be a bit overpriced. I have found one property that is listed at $69,000. It has 5 bedrooms, 2 Baths and approximately 1,957 sq ft. The home was recently purchased from the City Lank Bank this past November. Because I am a licensed real estate agent, I KNOW that this property is way overpriced for this neighborhood. The auditor gives the appraised value of $39,300.
This property is located in a high rental area for low income individuals and could easily rent for $1,050.00 per month. Given that all renovations have already been completed their are no repairs.
Is this price typical of turnkey properties?
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#5 All Forums Contributor
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#5 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
I would recommend you get with a local realtor and have him/her show you properties in your desired area. There is no need for you to "target" turnkey companies.
Remember there is no specific thing as a "rental house" There are just houses. Any house can be a "rental house" if you put a tenant in it.