Who is turnkey real estate investment for?
There’s a lot of discussion about investing in real estate. If you’re researching it for the first time, you’re going to find a lot of mixed messages floating around. As a family-owned turnkey real estate company, we definitely want to let you know about the benefits of investing in turnkey real estate. We want you to become part of our investment family!
We also want to be totally transparent about turnkey investing and who it’s really for. Every type of investment is going to be suited for a certain type of person. It’s going to click with certain personalities and goals, and it’s important to be aware of that going in. The last thing we want is for someone to dive in headfirst to any investment and then to be disappointed after they’re in too deep.So...how do you know that turnkey investing will benefit you?
5 Characteristics of a Perfect Turnkey Investor
You have a lot on your plate already.
Turnkey investing is the answer when you really want to create cash flow but you’re too busy to really dedicate yourself to the real work of investing. Few people truly understand how much work really goes into being a successful buy and hold real estate investor on your own. It’s not as simple as buying a house that you like (which is already a process) and renting it out.
You have to do your due diligence, which encompasses a whole spectrum of tasks and responsibilities. You have to thoroughly vet the market in which you want to invest to ensure that it will be profitable long-term and provide solid opportunities for investment and growth. You have to seek out ideal investment properties, go through the bidding and inspection process, renovate, and find property managers and tenants. Then there’s the issue of upkeep, repairs, and maintenance.
Then you do it all over again when you want to scale. So much work goes into investing in real estate...if you want it that way! When you’re a busy professional, juggling career, hobbies, and family responsibilities jumping into a real estate investment career might not be feasible. Not if you want to do it right.
If that is the case, turnkey real estate investment may be ideal because it doesn’t demand that level of dedication from you.
Related Article: What Type of Real Estate Investor Do You Want to Be
You want to supplement a full portfolio.
Because turnkey real estate is a passive endeavor, it makes sense to employ it as a strategy for “filling in the gaps” if you are investing by way of another strategy. Even if you do not primarily invest in real estate or if you typically prefer “hands on” investing, you can continue to grow your cash flow through passive income. If you have the resources, why not use turnkey real estate as an additional source of income?
It is yet another way to bolster your cash flow, increase your assets, and diversify your portfolio. Turnkey investments offer stability alongside investments that may take more effort to turn a profit, such as a flip.
You love your career.
While many real estate investors jump in with the goal of generating income for their retirement or quitting their jobs, many aren’t quite ready to say goodbye to the 9-to-5. If you have a fulfilling career and aren’t ready to give up doing something you love (or the income that comes with it), turnkey real estate investment is the path for you. You can invest without a massive time commitment that would detract from your real work.
You can continue to dedicate your time and attention to your career while also reaping the rewards of your investments thanks to dedicated and experienced professionals who handle every detail for you.
The same can be said for hobbies, a family-focus, or retirees who just want to enjoy retirement. You can live your life the way you want to live it when you invest turnkey.
You worry about making mistakes / It’s all too new.
Inexperience is a barrier to many when it comes to investing. We worry about making mistakes that will cost us big time. We wonder if we’re in over our heads and about to lose it all and if it’s even worth starting to begin with.
Turnkey investing is ideal in this situation—when your nerves get the best of you and you’re feeling overwhelmed by all that you don’t know—because you’re not the one who has to know everything. Your provider is relying on their combined decades of experience in real estate, financing, investing, and management to ensure your investment success.
That is a huge comfort!
You don’t like the hassle.
Lastly, turnkey real estate investment benefits those of us who prefer not to deal with the hassle and headache of it all. Real estate investment can be incredibly rewarding. It also can come with many, many headaches. If you don’t want to be the one who has to deal with those headaches, turnkey is the way to go!
As the owner and owner alone, you are not the person who has to worry about any of the troubles that can come with investing in real estate. You don’t deal with broken down appliances, unruly tenants, or maintenance emergencies. You just collect your check, get the update from your management team, and plan your next move.
You only really have to get involved when it’s something serious and, if you have a quality and trustworthy property management team and turnkey provider, that happens rarely!
Though turnkey investing isn't for everyone, you can certainly find great success if it suits with you and your needs.
