I have tried many types of investment opportunities within real estate and they each have their place in the market. Turnkey properties, however, have won a special place in my heart. They are a great way to start generating cash-flow and accelerate your journey to financial freedom without the stressors of traditional rentals or the time, labor, and uncertainty involved with flipping. They are already rehabbed, rented and cash-flowing, and managed. That means you as the turnkey buyer jumped the line to get an already cash-flowing property from day one. You start seeing any income right away. HGTV has made a killing on shows about flipping because there are a lot of surprises and drama tied to unexpected repair costs. Turkey properties take the guesswork out of the equation.
There are a few good things to know when buying your first or tenth turnkey property…
Cash flow will vary from property to property with the important thing to know being that any positive cash flow is good. Those of you interested in taking immediate action will thrive in our Cash Flow Tactics program that gets you faster results in far less time with exclusive access to our immediate inventory. If you are interested in cash flowing properties in St. Louis you can get a look into our inventory HERE by signing up for our Preferred Investor List and completing the form to set up a call with me. You will get immediate access to our constantly updated inventory of available turnkey properties and get a good look into what type of passive income you can get from our homes.
Expenses and Fees
The truth is you can expect to unveil expenses and fees depending on what avenue you plan to finance your investment. Be sure you take the time to inquire as to what those fees will be and avoid surprises. Knowledge is power and will help you make the most informed decision. Many of our investors have a custodian through a self-directed IRA and will consult with them prior to investing in their turnkey properties.
Any property you own should be insured and particularly if you have a property with tenants. Prior to purchasing your turkey property be sure to inquire about insurance so you have all your bases covered from day one. We work with the best in the business.
A huge advantage to turnkey properties is you have a cash-flowing asset and there is a team dedicated to doing the work for you! The management team will take care of many things to help make this hands-off investment. It is advised that you inquire in advance to have a firm hold on what tasks they are directly involved in and which ones will require your attention. Who is in charge of paying the utilities on the property? What is the process when the property requires repairs? Each property management company has a different system of processes they have found best for their clients. You can make the right decision when you are fully informed on their range of services.