Real estate investing is becoming more than just a hobby for millennials’. While they are putting off owning homes themselves, they are still watching the real estate market boom and they want to get in on the action.
As the economy improves, more and more 20- and 30-year olds are becoming real estate investors, but in a more ‘hands off’ way. They are choosing to invest in turnkey properties. Turnkey properties offer them the opportunity to become property owners while adding revenue to their investment portfolios.
This passive form of real estate investing is perfect for busy professionals or for those who just don’t have the experience needed to be a full-time investor. They want to own property, but would rather be hands-off.
Instead of flipping houses, when you invest in turnkey properties, you are buying as a long-term investment. There is no real ‘rehab’ needed on a turnkey property. As the name implies, it is ready to go the day it is purchased. A new tenant can move in with the turn of a key.
Buying a Turnkey Property
It is easy to purchase turnkey properties. One of the best ways to do so is through an investment company. The process does require research upfront because you need to choose your partner carefully. It’s important to do your due diligence.
Remember, though, turnkey properties won’t make you rich overnight. This is a long-term investment, so it will take time but it will become a steady source of cash as you go along.
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