You are on page 1of 20

Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

When readers buy products and services discussed on our site, we often earn a!liate commissions that support our
work. Learn more.

Turnkey Real Estate: The Ultimate Guide


to Turnkey Properties
By Melanie Patterson on September 26, 2019 | Property Types, Real Estate Investing, Rentals, Strategy |
Comments (0)

A turnkey property is one that is in livable condition and is move-in ready, meaning that
it doesn’t require repairs. Turnkey properties often have tenants already in them and a
property manager already managing them. Investors most commonly purchase these
properties from turnkey real estate companies, but private individuals can also sell
these seasoned units.

If you want to purchase a turnkey property, check out Roofstock. They have custom
filters so you can find a property that works for your budget and desired location.
Membership on its site is free and investors can find single-family homes that are
already leased so you start making money from day one.

Visit Roofstock

How Turnkey Real Estate Works


Properties become “turnkey real estate” when real estate companies buy properties,
get them rent-ready, and simultaneously list the properties for sale while securing
prequalified tenants. Turnkey companies provide property management services to the

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 1 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

new owners. Turnkey properties are typically sold in good condition and have tenants.
They’re generally more expensive than properties that need rehabbing.

Long-term investors buy turnkey properties to avoid rehabbing and seasoning


investment properties. Owner-occupants buy them because they’re move-in ready.
Turnkey real estate can include new construction as well as older homes that have been
completely renovated. Investors typically buy the property with a hard money loan or
cash and pay the turnkey real estate companies with rental income to manage the
properties.

Turnkey properties are generally sold to the turnkey company’s network of investors or
to new investors who contact them through their website. The properties are usually
not listed on the Multiple Listing Service (MLS) or with real estate agents since the
turnkey real estate companies often have their own buyers.

Top 5 Turnkey Real Estate Companies


Turnkey Real Estate
Best For
Companies

Roofstock Choosing from properties in 23 states

HomeUnion 1-4 unit properties in researched locations

Howard Hanna In-house financing, title, escrow, and relocation services

Norada Real Estate Connecting with local property managers


Investments

Maverick Investor Group Socially conscious company; single-family properties in


a few locations

Roofstock

Roofstock was started for investors by investors with a focus on ensuring each

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 2 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

property is cash positive from the day it is sold. Roofstock doesn’t own the turnkey
properties they list, but they vet them based on specific property characteristics and
income potential. They o"er fully seasoned units with management companies in place
or on call.

Roofstock a great choice for investors who are looking throughout the U.S. for turnkey
properties, since they currently have listings in 23 states, and are a well-known,
reputable company. Most turnkey real estate companies don’t o"er properties in that
many states or only o"er properties in the state where they’re located.

HomeUnion

HomeUnion also doesn’t own the turnkey properties they sell. Instead, they find and
advertise properties through the Multiple Listing Service (MLS) and directly from
turnkey real estate companies. They focus on properties with up to four units and make
sure each property is carefully vetted before advertising it.

HomeUnion uses a data collection system called Neighborhood Investment Rating


(NIR), which evaluates neighborhoods based on economic, environmental, and
demographic features. It is therefore a good choice for investors looking for one- to
four-unit turnkey properties in researched locations.

Howard Hanna

In addition to o"ering seasoned properties, Howard Hanna provides in-house financing,


title, escrow, and relocation services for International investors. They have a separate
property management division that covers five of the eight states where they operate.

They’re a good choice for investors looking for luxury properties, which they refer to as
“Homes of Distinction.” Since they’re the third-largest real estate company in the U.S.,

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 3 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

they have a division that is dedicated to finding and marketing luxury properties and
have expertise in this niche market.

Norada Real Estate Investments

Norada Real Estate Investments o"ers single-family homes, multifamily properties, and
condos in high growth areas. To help investors secure and maintain turnkey properties,
they work with a diverse network of lenders and property managers within the 15 states
where they operate.

Norada is a good choice for investors who are looking to minimize risk while maximizing
profitability within top real estate growth markets. They also o"er property appreciation
forecast and data on properties in the areas where they operate.

Maverick Investor Group

Maverick Investor Group focuses on single-family homes in areas with strong job and
population growth. They usually work with investors with down payments of at least
$50,000. They don’t manage properties but have a network of vetted property
managers who only rent to qualified tenants. Occasionally, Maverick Investor Group
o"ers discounts on property management if buyers purchase more than one property.

They are a good choice for socially conscious investors since they donate 10% of
company earnings to charities they believe in, including giving back to the communities
where they sell properties, creating jobs, and supporting the homeless and working
poor who cannot a"ord to rent a home, in addition to other causes.

Types of Turnkey Properties


There are di"erent types of turnkey real estate to consider. Turnkey properties can be
condominiums, single-family homes, multifamily units, or apartment buildings. A

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 4 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

turnkey condominium has been renovated and is in move-in condition. It is either


already rented to a tenant or ready to be rented. Single-family homes are also
considered turnkey properties when they’re in move-in condition.

Multifamily and apartment complexes are considered turnkey when they meet building
and safety codes and usually have qualified tenants renting them. Even if these
properties are advertised as in turnkey condition, it’s best to have a full property
inspection to be sure all systems are working properly. In addition to building and safety
code standards, turnkey properties should have certain features such as updated
appliances, fresh paint, and flooring.

How to Find Turnkey Properties in 3 Steps


Now that you understand what turnkey properties are and what to look for, let’s
consider how to find them. The most popular place to find turnkey properties is through
a turnkey real estate company. These companies typically have a portfolio of turnkey
real estate that they buy, rehab, sell, rent, and manage for the new owners.

The three steps to find turnkey properties are:

1. Do Your Research
As with any real estate purchase, it’s important to do your homework. During the first
part of your research, focus on neighborhoods and home prices using sites like Zillow.
Research how much comparable properties sell for to avoid overpaying. After your
initial research, you’ll need to visit the property. Drive through the neighborhood and
look for signs of distress, such as boarded-up properties, closed businesses, and
unkempt streets.

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 5 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

For the second part of your research, investigate turnkey real estate companies. Look
for reputable companies with a known track record for selling cash-positive properties
with stellar property management services. Read turnkey real estate company reviews
to glean their level of experience, what fees they charge, who manages maintenance
requests, and how long it takes them to rent vacancies.

Four common fees charged by turnkey real estate companies include:

Property management fees: Turnkey real estate property management fees


range from 10% to 20% of the gross monthly rental income. Sometimes additional
fees are charged for maintenance, leasing, advertising, and vacancies.
Leasing fee: Leasing fees are typically equivalent to one month’s rent, or can be a
flat fee up to $500.
Eviction fees: Eviction fees vary by state and include court filing and legal fees,
where applicable. It’s important to make sure the turnkey real estate company
thoroughly screens tenants before placing them. Ask to review applications and
leases.
Real estate commission: Real estate commissions to buy or sell the properties are
typically paid from the proceeds from the sale. The commission can range from 5%
to 7% of the sale price.

Gigi Luu, a real estate agent at Msquared Real Estate, who works with owner-occupants
buying turnkey properties in the D.C. area, says:

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 6 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

“Make sure you aren’t overvaluing the


property during the research stage just
because it is new construction or renovated.
Certainly, there is a premium to purchase a
new product, but you still don’t want to
overpay, so be sure to pull comps. Pay close
attention to properties that have sold close by
with a similar level of finish.”

2. Work With the Right Turnkey Real Estate


Company
Many real estate investors who buy turnkey properties do so because they don’t want
to do their own renovations, rental property maintenance, or property management.
They prefer rent-ready properties with professional property managers in place who
manage everything.

Whether you work with one turnkey real estate company or many, vetting companies
beforehand is critical. It’s also important to find the right company to work with since
it’s a long-term relationship. Choose a company you have thoroughly researched before
looking at their inventory. Review the applications, background checks, and leases the
turnkey companies have of the existing tenants.

Many turnkey real estate companies have large inventories of properties in multiple
states. Less common, turnkey real estate can be found through local real estate agents
and the Multiple Listing Service (MLS), which can be searched by the property’s
condition, price, and neighborhood. Most real estate companies don’t manage the
properties and don’t sell outside of their area, so it’s best to interview before working
with them.

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 7 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

Step 3. Finance Your Turnkey Property


After you’ve done your research on neighborhoods, prices, and turnkey companies,
you’ll need to determine how to finance the property. Since these properties don’t need
repairs to bring them up to code, they can be financed with many types of loans,
including conforming loans, portfolio loans, multifamily and apartment complex loans,
hard money loans, and cash.

Turnkey Real Estate Financing


Turnkey properties are easier to finance than other properties that need repairs. Some
investors choose to pay with cash, but it’s more common to leverage the properties
with financing. Conforming loans, portfolio loans, and multifamily loans are common
financing options. Some turnkey real estate companies only work with cash buyers or
hard money loans.

Turnkey Financing Options


Loan Types Who it’s right for

Conforming Loans (1-4 Buy-and-hold owner-occupants and investors


units)

Portfolio Loans Investors buying multiple turnkey properties, or building


a mixed portfolio

Multifamily Loans (2-4 Investors of non-owner-occupied turnkey properties


units)

Apartment Loans (5 or Investors buying 90-day seasoned properties with 90%


more units) occupancy

Hard Money Loans Investors buying rented or rent-ready turnkey


properties

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 8 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

Conforming Loans
Conforming loans are mortgages that meet certain criteria in order to conform to
Fannie Mae and Freddie Mac guidelines. As of 2019, the maximum loan amount for most
areas is $484,350. Fannie and Freddie o"er some of the best interest rates in the
market.

If you’re purchasing in an area that has above average housing prices and a high cost of
living, such as San Francisco, the conforming loan limits increase. The same is true for
properties with more than one unit. For example, if you purchase an owner-occupied,
four-unit property in San Francisco, the loan limit increases to $1,397,400.

Conforming Loan Rates & Terms

Conforming loans o"er low-risk, long-term financing for owner occupants and
investors looking for single-family homes, condos, and multifamily properties with up to
four residential units. This type of financing typically equates to lower monthly
mortgage payments and less interest expense over the term of the loan, making it a
good choice for turnkey properties.

Conforming loan rates and terms include:

Interest rates generally from 3.5% to 7%


15- to 30-year terms
Typically 80% loan-to-value (LTV); owner-occupied can be 97.5% LTV
2019 maximum loan amounts of $484,350 for single-family in most areas
Regions with higher costs of living and higher property values have higher loan
limits

Conforming Loan Qualifications

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 9 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

In order to qualify for a conforming loan, borrowers must meet certain lending criteria.
This criteria is standardized and must meet federal guidelines. It includes a minimum
credit score, PMI (private mortgage insurance) for loans with less than a 20% down
payment, holding up to six months of cash reserves, and a down payment.

Conforming loan qualifications include:

Minimum credit score of 620 (check your credit score for free here)
Mortgage insurance, which is required for loans above 80% LTV
Having three to six months of cash reserves for non-owner occupied properties
A down payment of 3.5% or more depending on the type of property, loan product,
and borrower profile

Where to Find Conforming Loans

Conforming loans are readily available and can be found at local banks, credit unions,
and other lenders, except for private lenders. These loans are government-backed
loans that are guaranteed by the Federal Housing Administration (FHA), Freddie Mac, or
Fannie Mae. Most banks and credit unions have mortgage lending departments and will
be able to provide information about their loan products.

Portfolio Loans
Portfolio loans are o"ered by private lenders who lend to investors and hold the
mortgage in-house to receive interest income. Portfolio loans can be used to finance
single-family, multifamily, vacation rentals, and apartment buildings. They are often
used to finance more than one property at the same time, aiding investors in building a
real estate investment portfolio.

Portfolio Loan Rates & Terms

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 10 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

Portfolio loans o"er higher maximum loan amounts than conforming loans. They can be
used to finance properties in turnkey condition and properties that need rehabbing.
Some portfolio loans may carry additional fees and prepayment penalties. Make sure to
understand how the variable interest rate works and be sure to understand all loan
features before borrowing.

Portfolio loan rates and terms include:

5.2% to 7% fixed and variable interest rates


One to 30-year terms
Being able to hold four or more loans at the same time
Being able to carry a single blanket loan for multiple properties
A minimum property value of $75,000
Maximum property limits over $2,000,000

Portfolio Loan Qualifications

Portfolio loan qualifications are more flexible than conforming loans. There are no
restrictions on the number of properties being financed at any given time. Portfolio
lenders consider the property’s value, debt service coverage ratio (DSCR), and the
investor’s experience over the credit score (though credit score may still be a factor for
some lenders). Portfolio loans o"er a wide range of lending solutions and qualifications
can vary.

Portfolio loan qualifications include:

640 credit score (check your credit score for free here)
Must be rent-ready
Cash reserves of six or more months of rental income and expenses

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 11 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

Sometimes funded in as little as 10 days

Where to Find Portfolio Loans

Portfolio loans can be found through most private lenders as well as some banks and
credit unions. Real estate investors like portfolio loans for the more lenient lending
criteria, faster closing time, and the ability to finance larger projects that traditional
lenders typically won’t finance. Portfolio loans are great for investors who are buying
multiple turnkey properties, or building a mixed portfolio of properties.

If you’d like to review our top choices for portfolio lenders, check out our article on the
five best portfolio lenders.

Multifamily Loans
Multifamily loans are primarily used to finance residential properties with two to four
units. They can also be used to finance larger properties such as apartment buildings,
though commercial property loans are more typical for apartment complexes. There are
several di"erent types of multifamily loans, each with varying rates, terms, and
borrower qualifications.

Multifamily Loan Rates & Terms

Multifamily loan rates and terms vary depending on the type of loan and the property’s
condition. There are both short- and long-term loans available to investors. Multifamily
loans do not have to be owner-occupied. As with any loan, the property will have to
appraise at or above the sale price, and typically, the debt to income ratio (DTI) will
range between 70% and 80% depending on the property’s condition.

Multifamily loan rates and terms include:

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 12 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

Residential properties with two to four units


Interest rates between 3.6% and 12.5%
One- to 30-year terms available
Loan amounts vary depending on location
Down payment of 20% to 30% or more

Multifamily Loan Qualifications

Multifamily loans have di"erent qualifications depending on the lender and type of loan.
A higher credit score is generally needed to qualify for a multifamily loan and the
property needs to be in livable condition for most loans, making them suitable for
multifamily turnkey properties, since the rehab work is done. Some multifamily lenders
will include some of the rental income from the property in their income qualification
guidelines.

Multifamily loan qualifications include:

A credit score of 640+ (check your credit score for free here)
Six months of rental income and expenses as cash reserves
Two- to four-unit building
Property that is in good condition

Where to Find Multifamily Loans

Multifamily loans can be found through banks, credit unions, and other lending
institutions. Private lenders like Lima One Capital also o"er multifamily loans. Rates
start as low as 6.99% for a turnkey multifamily property with a 25% down payment and
no prepayment penalty.

Visit Lima One Capital

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 13 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

Apartment Loans
Interest
Loan Type Term LTV/LTC Property Value
Rate

Government- 4.59% - 5 - 30 years 80% LTV $750,000


backed 5.55% minimum

Balance Sheet 7% - 12.5% 3 - 30 years Up to 97% $100,000


LTV minimum

Short-term 7.99% and Up to 24 75% LTV or $50,000


up months LTC minimum

Apartment loans are loans that are used to finance buildings with five or more
residential units. In order to obtain an apartment loan, there are specific loan
requirements that must be adhered to. Interest rates, terms, and qualifications vary
depending on the loan. Traditional and local banks treat apartment loans as a
commercial loan product. Qualifications are more stringent with these lenders.

Apartment Loan Rates & Terms

Apartment loan rates and terms vary depending on the lender and the property’s
condition. There are three major types of apartment loans: permanent government-
backed apartment loans, permanent balance sheet loans, and short-term loans. Each
loan has its own criteria, qualification guidelines, and loan-to-value (LTV) or loan-to-
cost (LTC).

Apartment Loan Qualifications

Apartment loans are geared towards investors looking to finance multifamily dwellings
or apartment buildings. They have strict qualifications that must be met in order to
qualify, such as higher credit scores, a liquidity requirement, high occupancy rates, and
a time period for how long the units have to be occupied prior to funding.

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 14 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

These loan qualifications include:

A minimum credit score of 650 (check your credit score for free here)
Nine or more months of liquidity
Occupancy rate of 90% to obtain permanent financing
Seasoned 90 days prior to funding

Where to Find Apartment Loans

Apartment loans can be found through local and national banks, credit unions, and
government agencies. The most common apartment loans are guaranteed by
government-backed agencies such as Fannie Mae, Freddie Mac, and the Federal
Housing Administration (FHA). These government agencies do not lend money, but they
will guarantee, or “back,” a loan, lowering risk to the lender.

Hard Money Loans


Hard money loans, referred to as fix-and-flip loans, are generally used to purchase
properties that need rehabilitation. They aren’t a common source of funding for turnkey
properties since these properties can be financed through lower rate, long-term loans.
Some turnkey real estate companies will only accept cash or hard money loans. They
may be used if an investor purchases a vacant turnkey property and needs to season it
before refinancing to a long-term loan.

If you decide to buy turnkey real estate and need to season it before refinancing,
contact LendingHome. They provide competitive rates that start at 7.5% and they
qualify you online within minutes.

Visit LendingHome

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 15 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

Who Turnkey Properties Are Right For


Turnkey properties are good for hands-o" investors looking for long-term, flexible, and
passive wealth building strategies. They o"er the opportunity to own investment
property without having to be actively involved in property management. Turnkey
properties are also right for owner-occupants who want a move-in ready property.

Ideal buyers of turnkey properties include:

Landlords who want to buy properties in a di"erent location from home


First-time landlords who want to get started in real estate investing
Busy landlords who don’t want to manage their properties
Investors who want a long-term investment strategy with steady cash flow
Low-risk investors who don’t want the risk of potential income loss from flipping a
property
Owner-occupants who want a move-in ready property
Investors reinvesting gains through a 1031 exchange since turnkey properties can
be purchased quickly

Turnkey properties aren’t ideal for investors who enjoy DIY repairs or want to rehab a
property with a fix-and-flip loan. They’re also not suited to investors who want to use a
rehab loan to purchase and restore a buy-and-hold distressed property. Landlords who
prefer a hands-on approach and want to engage with their tenants also aren’t a good fit
for turnkey properties since most of them have a management company.

For those landlords who want to manage their own properties, check out our landlord
tips article. If you don’t want to deal with the turnkey real estate company and are
instead looking for a deal, you can buy properties at auction or purchase a bank-owned
property.

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 16 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

Turnkey Property Mistakes to Avoid


Three turnkey property investing mistakes to avoid include:

1. Keep Fueling a Reserves Fund


Kyle Kroeger, Investor and Founder, Financial
Wolves

“One of the biggest mistakes investors can make with


turnkey properties is assuming that the property is truly
turnkey. Yes, your appliances and your investment property
are in great shape, but mistakes happen. Expenses can
come up outside of your appliances, home, and so on that
you need to account for. Thus, investors need to consider
funding reserves in their account and start treating your
properties like a business. You will need working capital to
fund minor repairs and requests from tenants.”

2. Lack of Research Leads to


Overpaying
Shaunda Necole, Real Estate Agent, Investor, and
Business Coach, ShaundaNecole.com

“The most crucial mistake to avoid when investing in


turnkey properties is not doing your research. Not
understanding the market and location of a potential
purchase can lead to overpaying or purchasing a property
in an area not conducive for a rental or a flip—even if the

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 17 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

property seems to be in move-in ready condition. It’s also


essential to understand what qualifies the property as
“turnkey.” Once you have the turnkey parameters and
expectations listed out, it’s easier to check the boxes to see
if the potential investment will earn its keep.”

3. Don’t Assume It Is Hands-off


Ali Boone, Owner, Hipster Investments

“Realize that while they are often advertised as ‘hands-o"’


investment properties, this doesn’t mean you never have to
be involved! Things can still happen that you will need to
take charge of. Conduct due diligence on any turnkey you
are thinking of purchasing. Just because you ‘should’ get
the property as advertised, doesn’t mean you will if you
don’t verify everything about it. Think: property inspection,
running comps, and confirming rentability. Interview the
property manager that comes with the property as if you
were deciding whether or not to hire them. Property
management will make or break your investment! And you
aren’t required to use the one that comes with the
property. Be part of a larger network of turnkey buyers;
don’t go at it alone. Having extra support never hurts.”

Pros & Cons of Investing in Turnkey Real


Estate
https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 18 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

Investing in turnkey real estate can be a great wealth building strategy, but it has pros
and cons. For example, buying turnkey real estate is generally a long-term investment
with fewer risks, but the returns aren’t typically as quickly realized as they are with
fixing and flipping properties. Still, turnkey properties are easier to buy, maintain, and
manage since they often have a management company in place.

Some of the pros and cons of buying turnkey properties include:

Pros of Investing in Turnkey Real Estate


The pros of investing in turnkey real estate include:

No rehab costs: You won’t have to spend more money or time on renovations
since the work has already been done for you.
No contractors: You don’t have to find and deal with contractors and a rehab
timeline.
No tenant searching: These properties are often fully rented with qualified
tenants, so you don’t have to locate and screen applicants.
Built-in property management: If you hire a turnkey real estate company, you
don’t have to spend time managing the property, since many come with property
managers.

Cons of Investing in Turnkey Real Estate


The cons of investing in turnkey real estate include:

More expensive properties: You will spend more money to acquire the property
since it doesn’t need to be fixed up.
Can’t choose first tenants: Your cash flow depends on tenants, who you did not
choose, to pay the rent.

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 19 of 22
Turnkey Real Estate: The Ultimate Guide to Turnkey Properties 12/5/19, 1(11 AM

Giving up control to property managers: You have less control over the property
if you use a management company.
Limited locations: Turnkey investment properties aren’t as easy to find and
turnkey real estate companies don’t operate in every state.

Bottom Line
After reading this article, you should have a better understanding of what turnkey
properties are, what features to look for, and where to find them. You also have the
tools to evaluate turnkey real estate companies and choose one that is right for you.
Turnkey financing can vary, so check with various lenders for property types and loan
qualifications.

If you want to purchase turnkey real estate from a reputable, nationwide company,
check out Roofstock. They were created by investors for investors and they exclusively
invest in single-family homes that are generating positive cash flow and already rented
to qualified tenants. Sign up for an account for free.

Visit Roofstock

About the Author

Melanie Patterson

Melanie Patterson, MA, CBA is a sta" writer at Fit Small Business


specializing in Real Estate Investing with over 25 years of combined
experience in real estate sales, property management and residential
buy-and-hold real estate investing. In addition to managing her own
property, Melanie has also managed a women’s emergency shelter.

https://fitsmallbusiness.com/turnkey-real-estate-properties/ Page 20 of 22

You might also like