Last blog post we covered some of the basics of turnkey real estate. This week we’ll cover what you should do to get started investing in turnkey, if you think you are a right fit for it!
First, look for turnkey properties. You should be able to browse some websites specific to turnkey reality. And while you should narrow down your list of specifics, you will be able to look long distance. You can secure a fantastic property manager for any long distance properties. While researching, make sure you get a clear picture of the property’s financial situation. You don’t want to offer on a property only to realize that it won’t be making you any money. Then, you make an offer. That follows standard procedure, where you negotiate until you and the seller are both happy with the outcome. Finally, you figure out the financing and close on it. It really is as simple as that!
- Long distance properties are not a bad idea. You won’t have to be hands on, which makes it a great option! And, if you live in an expensive area, you can search out of state to get a better deal!
- Make sure you don’t assume the property is good. Research, research, research! You don’t want to think you’ve found a dream option, only to learn that it’s in unlivable conditions a week after you buy it.
- Similarly, know how long a property has been on the market. This may not change your decision, but it’s good to have that knowledge so that you can make a decision that’s best for you!
Turnkey properties are a great investment, especially if you want minimal hassle in the real estate world. As long as you research what you will be buying, you should have a great property with almost immediate reward.
Don’t forget to check out our earlier blog post about turnkey real estate: https://allcountylegacy.com/2021/09/14/turnkey-real-estate-the-whats-and-hows/
To learn more, check out this article that inspired this blog: https://finance.yahoo.com/news/2021-clear-simple-guide-turnkey-181431989.html