A recent survey by found that 55% of turnkey real estate investment buyers are aged 18-34. It also showed that 85% of these new investors live in a different state than their rental properties. These figures are a testament to the growing popularity of real estate investing.
Owning rental property can provide passive income and opportunities to build wealth. But becoming a landlord requires time and effort many people don’t have. This is where turnkey real estate investments can be valuable.
Turnkey companies fully renovate, find tenants, and manage investment properties for investors. They then sell these ready-made rentals to investors who want little day-to-day responsibility. If you aren’t convinced yet, here are seven key benefits of turnkey real estate investing you should know.
1. Save Time and Money
One of the biggest challenges of buying an investment property is finding one that’s in good condition and ready to rent. Many require extensive repairs and upgrades before they can attract quality tenants. This means you have to spend time and money on contractors, materials, permits, inspections, and more.
With investment property investments, you don’t have to worry about any of that. The turnkey company does all the work for you. They renovate the property to meet the standards and expectations of the local rental market.
They also ensure that the property complies with all the codes and regulations. This means you can save a lot of time and money on renovations and start earning income from your property right away.
2. Access to Expert Knowledge and Support
Another benefit of turnkey real estate investments is that you get access to expert knowledge and support from the turnkey company. They have extensive experience and expertise in the local real estate market. As such, they know how to find the best deals, negotiate the best prices, and analyze the potential returns.
They also have a network of professionals who can help you with every aspect of your investment. You can tap into their network and connect with reputable lenders, attorneys, accountants, insurance agents, and more. This can go a long way toward supporting your investment and making it more profitable.
3. Professional Property Management
One of the most tedious and stressful parts of owning a rental property is managing it. You must find and screen tenants, collect rent, handle repairs, resolve complaints, enforce leases, and more. These tasks can take up a lot of your time and energy, especially if you have multiple properties or live far away from them.
With this investment, you don’t have to worry about any of that. The turnkey company provides professional property management services for your property. They handle the day-to-day operations and issues that arise with your tenants and property.
They also handle all the legal and financial aspects of your turnkey real estate investment. This means you can enjoy the benefits of owning a rental property without the hassle of managing it yourself.
4. Diversify Your Portfolio and Reduce Risk
Turnkey investments also allow you to diversify your portfolio while reducing risk. Investing in real estate often comes with limitations in regard to location, budget, and availability of properties. You may also face higher competition, lower returns, or higher volatility in your local market.
With real estate investing, you can invest in different markets across the country or even the world. You can choose markets that have high demand, low supply, strong growth potential, or favorable tax laws. You can also choose properties that match your criteria, such as size, type, price range, or cash flow.
Investing in different markets and properties can spread your risk and increase your chances of success. This allows you to take advantage of opportunities that may not be available in your local market.
5. Tax Benefits and Appreciation
Another benefit of turnkey investments in real estate is that they offer tax benefits and appreciation. As a real estate investor, you can deduct various expenses related to your property from your taxable income. These include mortgage interest, repairs, maintenance, property taxes, insurance premiums, and travel costs.
These deductions can lower your tax liability and increase your cash flow. You can also defer or avoid capital gains taxes when you sell your property by using strategies such as 1031 exchanges or opportunity zones.
Real estate investments also offer appreciation potential. Appreciation is the increase in the value of your property over time due to market forces or improvements. Appreciation can boost your equity, net worth, and rental income.
6. Passive Income and Financial Freedom
The ultimate benefit of turnkey real estate investments is that they can help you achieve financial freedom. They are a great way to earn passive income, which can help cover your living expenses and pursue your goals.
The income from turnkey real estate can grow over time. This would make it easy to pay off debts, save for retirement, fund your kids’ education, and pursue your passions. You can also reinvest your income to buy more properties and increase your cash flow.
By achieving passive income and financial freedom, you can enjoy a better quality of life and more options for your future.
7. Easy to Get Started
Last but not least, getting started with turnkey real estate investments is easy. You don’t need much time, money, or experience to invest in turnkey real estate. There’s no need to spend months researching properties, negotiating deals, or renovating them.
All you need is a reliable turnkey company to guide you through the process. They’ll provide everything you need, including an inventory of homes for sale, contractors, documentation, and more. The purchase process ends in a matter of days and weeks.
After that, you can start enjoying your monthly checks.
Ready to Explore Turnkey Real Estate Investments?
Turnkey real estate investments are a great way to start or grow your portfolio without the hassle and headache of regular methods. They offer many benefits while paving the way to financial freedom. If this sounds like something you’re interested in, don’t hesitate to contact a real estate agent in Kensington.
As a top turnkey company, we offer quality properties and help investors reach their financial goals. We can help you get financing, close the deal, and manage the property for you. Our team also provides ongoing help, education, and resources to help you succeed.
Contact us today to learn more and invest in Kensington real estate.