A turnkey rental is a rental property that requires little to no effort to rent out and begin making profits.
Turnkey rentals offer the ability to predict your projected cash flow very easily. Most of the time, the property is already rented. Sometimes, the property may need some light touch ups, like paint before renting. Turnkey rentals give you the ability to skip over headaches like handling contractors, managing timelines, dealing with code enforcement, etc. and give you the opportunity to start collecting rents and profiting immediately. These will be the less time consuming investments than a strategy like BRRRR. Additionally, since cash flow is very predictable and renovations are limited, financing for these investments will be usually be a 30-yr style loan.
Turnkey rentals are right for you if you have very limited time but a good source of income. Scaling a large portfolio is very easy with this combination. Buying turnkey rentals and outsourcing property management gives the ability to focus on earning more income and scaling your business.
Turnkey rentals can be sourced from multiple avenues. Sometimes there will be turnkey rentals available on-market, sometimes they’re available off-market, and sometimes we will be selling a turnkey rental ourselves. If you would like to be notified as soon as a turnkey rental is available, please let us know.