Turnkey investment homes are one of the most versatile forms of real estate investment on the market to date. They are great for first-time investors who are looking for a little help getting started but also make great additions to an already-budding portfolio or an out of country investor.
What is a Turnkey Investment Property (or Home)?
Investment homes are properties which are purchased for the sole purpose of generating income. In these cases, the property owner has no intention of living in the home themselves. These properties are then either renovated and rented or simply renovated and resold—either method gives the property owner an income derived from this home’s use, either in one lump sum or in a steady, monthly revenue stream.
When it comes to a turnkey rental home, these are properties which have been purchased by a property investment company at a lower than market rate price, through auctions, estate sales, foreclosures, and other such procedures. They have been fully renovated and rehabbed, and placed into an investment portfolio for investors to browse. Often times, the property investment company markets the property and secures a tenant long before an investor can take ownership.
In other words, a turnkey investment property is a home that is ready to be rented to tenants—or is already rented—and will generate the owner a revenue stream almost instantaneously.
How Do You Safely Invest in Turnkey Investment Homes?
When it comes to investing in turnkey rental homes, especially if you live out of the area, it is important to verify the company you are working with. Just because a company advertises themselves as a turnkey provider, it doesn’t mean they offer the same services as others on the market. Always check for references of both past and present clients/investors, look at the company’s portfolio, and run the numbers yourself. Does the company offer purchasing assistance, legal services, or property management? Is the property rented prior to your purchasing or is it currently sitting empty?
These are all good questions to ask yourself before agreeing to sign any contracts. As always, cross reference—don’t ever just look at one company. Look into several and pick the one which meets your needs the most.
What Can Strategy Properties Do for You?
When it comes to investment properties for sale, Detroit-based Strategy Properties has an excellent offering. Each investment property has been fully vetted by our expert real estate team, ensuring that each investment opportunity meets or exceeds are stringent standards and desired ROI (return on investment) rates.
A purchase through Strategy Properties opens the door for a list of services you won’t find elsewhere. Whether you are a busy investor who doesn’t have the time to devote to a new purchase or you are a first-timer who doesn’t quite understand the process yet, we will walk you through the progression from start to finish. Our homes are rented prior to being made available to any investor and we can stay on as property managers when the sale closes, allowing you to remain hands-off during the entire investment venture.
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