Are turn key rentals the right real estate investment for you? Turn key rentals have been rehabbed and have a qualified renter in place paying rent the day you take ownership. These also typically have a property management company in place to take care of the day-to-day operations and keep renters in the house. Turn key rentals do make everything easier for you as an investor but of course, your return on investment is likely to be lower. At least in the early years.
When Turn Key Investing Makes Sense
If you’re getting into real estate investing as a full time professional, turn key investing probably doesn’t make sense in most cases. However, if you already have a full time job and family but want the investment security that a real estate investment presents, a turn key investment can be the right decision for you.
A turn key rental does cost more than a do it yourself fixer up because the property has been professionally rehabbed. You don’t need to deal with contractors or spend your weekends doing the work yourself. Still, I’ve seen turn key rentals that provide an annual rate of return between 12.29% and 17.48%. Not bad for an investment …read more