If you’re a real estate investor looking for one of the best investing opportunities out there, you need to be looking at turnkey real estate.
You’re probably familiar with the conventional way of investing: You buy the a property, you fix it up, you rent it out, and you manage the property. But you also know just how time consuming and expensive that can be!
Fortunately, there’s a better way and it’s called “turnkey real estate”.
With turnkey real estate, SOMEONE ELSE buys the property, fixes it up, puts in a tenant, puts a management company in place… and then YOU come along and invest in that property. Yes, it’s already fixed up and rented, which means it’s cash flowing from the very first day you invest!
Impressed? We are! Here are all the great reasons we love turnkey investing…
Benefits of turnkey rental properties for sale in Rhode Island
Here are all the reasons we think YOU should love turnkey investing…
- Save time by not scouring the marketplace: Someone else looks for the properties so you save a ton of time by not having to scour the internet for below market properties to invest in.
- Save money by not having to send out direct mail: One way that investors find below market properties is by sending out direct mail. This, of course, is extremely costly so if you don’t have to do this, you end up saving hundreds and even thousands of dollars to find that one gem of a property.
- Save time by not having to deal with sellers: Dealing with homesellers can be extremely time consuming. You need to arrange to meet with them, you need to walk with them through the property to assess the condition, and then you need to sit down and negotiate with them. This can take many hours if you’re not experienced (and even if you are experienced, it can still take a while!) So skip this part and work with a turnkey investment company that has already done this work for you.
- Save money by not having to do an inspection: Once you put a property under contract, you need to do an inspection and make sure the property is in the condition you expect it to be. This may include costly inspections by certified professionals and contractors. If you invest in a turnkey property, this is all done so you don’t have to do it.
- Save money by not having to hire contractors: After you own the property, you need to start fixing it up. This can be an expensive effort as you work with high-priced contractors to demolish the old stuff, buy new materials, and install them. Ask any investor and they’ll tell you that nearly every renovation comes with a surprise unexpected cost that added significantly to the expense of the repair. Skip these surprises. A turnkey property is already fixed up!
- Save time and hassle by not having to hire contractors: Contractors are busy people and they are always running from job site to job site. You want them to work as much as possible and as quickly as possible on your project but they may have other projects to work on as well. A good contractor can get the job done but it still takes time and even some management effort on your part. With a turnkey property, all this work is done before you even own the property!
- Save money by not having to advertise for tenants: Once the property is all fixed up and ready to live in, you need to advertise for tenants. You’ll need to put an ad in the paper and then have a way for tenants to contact you. But with a turnkey property, someone else does that for you and you don’t have to!
- Save time by not having to interview tenants: As tenants respond to your ad, you’ll need to interview those tenants and do background checks. This could take up several hours over several weeks as you talk to tenants, get their information, leave voicemails, etc. With a turnkey property, the tenant has already been chosen, checked, and is renting the property BEFORE you even invest in it!
- Save time by not having to find a property management company: Yet another hassle of the conventional way of investing is to find a property management company — a task that of course requires you to source several companies, interview them, choose one, and train them on what you want done in your property. Guess what… that’s already done for you!
Wow! That’s a ton of great benefits of turnkey rental properties for sale in Rhode Island .