What is a Turnkey Investment?

In the world of real estate, turnkey investments are sort of the new kids on the block. They didn’t really exist 20 years ago, or at least not by their current name, but in recent years, they’ve completely taken off. While experienced real estate buyers are probably familiar with this type of investment, newbies may be scratching their heads and saying “What exactly is it? What does ‘turnkey’ even mean?” Well, beginning investors, this article is for you. Keep reading to learn more about turnkey investments and how they can transform your future.

Turnkey Investments Defined
The term ‘turnkey’ is defined as a home that is essentially move-in ready. There is nothing for the buyer to do, other than bring their belongings and take up residence. Sometimes, some of those items (i.e., furniture) are even provided for them! As it applies to real estate investment, turnkey properties are those that already have been rehabbed with new paint and flooring, updated appliances, etc. All the investor has to do is take ownership and start reaping the benefits.

Benefits of Opting for Turnkey Investments
Speaking of benefits, there are a number of them that come with turnkey properties, and specifically with working with an investment company that specializes in this niche. The biggest advantage is that you – the investor – don’t have to worry about anything as far as fixing up the property goes. All the headache and stress that comes with renovation work has already been handled by someone else, with the end result being a good-as-new property that’s ready to start generating income. Other benefits include market insights provided by the investment company, who can help you make a wise decision on a property, along with maximized marketing potential. Turnkey investments also allow you to take a backseat role regarding the property, which is ideal for investors who don’t live near their property or who simply don’t have the time to manage one.

Getting Started
Getting started in turnkey investing is easy – all you have to do is contact a reputable investment company! With assistance from real estate investment experts, you can target a cash-flowing property that will fit in with your short- and long-term investment goals. Of course, we always recommend that beginning investors supplement this assistance with their own research, familiarizing themselves with some of the ins and outs of turnkey investing. It’s also a good idea to have a solid understanding of your financial situation and how buying a property will impact that. Finally, before closing any real estate deals, ask yourself what your financial goals are, and how turnkey investments can help you reach them. Having these goals defined coupled with some foundational knowledge about real estate investment and guidance from the experts will help put you on the path to success.