What is a Turnkey Property?

So maybe you want to get started in real estate, but not sure where to start. There are probably several questions going through your head

  • What market should you look in?
  • What amenities are desired by renters?
  • What kind of rent can you get in the area?
  • Is the community growing, stagnant or shrinking?
  • Is the state or city more tenant friendly or landlord friendly?
  • What length of leases should you offer?
  • Should you or should you not allow pets?

A little overwhelming, isn’t it? And the above is probably just a fraction of the questions that may come to mind.

Now what if you could take some or most of the guesswork out of this process? You can! You can do this by purchasing a Turnkey Property from a Turnkey provider. A provider will find a property, fully rehab it, rent it out to a qualified tenant and manage the property for you from day one. Not only can this give you piece of mind, but can also get you more economics of scale than if you tried to it yourself. Let’s put it this way: if you go by yourself to Home Depot to get 3 cans of paint and a turnkey provider goes to Home Depot to get 300 cans of paint for their 100 properties they manage, who do you think might get a better discount?

While there are probably dozens, if not hundreds of Turnkey Property companies throughout the US, three that I would particularly recommend and have worked with are Mid South Home Buyers, Spartan Invest and Norada Real Estate.

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