Should You Include Turn Key Rentals in Your Investment Portfolio?
Real Estate Investing is becoming a very popular way to invest, but what aspects of it are best?
Turn key rentals make for a much easier type of real estate investing, as they also offer a hassle-free option. Instead of purchasing a property and having to rehab it so it’s move-in ready, a turn key rental is ready to go. As soon as you can find a tenant, you can start collecting income.
Here we look into how turn key rentals can help you increase your investment potential.
Hassle-Free Investment Alternative
The typical real estate investor acquires property and then has to take the time and effort to make the property move-in ready. Since most will offer to buy the property in as-is condition, this can sometimes mean extensive interior or exterior work.
Whether a fresh coat of paint is needed, or flooring needs to be replaced, the investor will need to be involved at some level to ensure the work gets done.
However, if an investor acquires a turn key rental, the home doesn’t need any repairs. They won’t have to deal with any hassles or delays to start benefiting from their investment.
Experience Faster Return on Your Investment
Most investments can’t be considered short-term investments. In other words, you can’t expect to have a fast return. In most cases, it will take many months or longer to start seeing a significant difference.
With turn key rentals, you can experience a return on your investment as soon as the property is occupied. And since this type of property is move-in ready, you should start earning fairly quickly.
You’ll also make money faster since you won’t be trying to recover lost profits from spending money on rehabbing the property. You may also find that due to this quick turnaround, you can invest in more properties at once and earn at a faster rate.
Build a Team to Help Move the Process Faster
Even though turn key rentals don’t require any heavy lifting, you still may want to have a small team to make the process go faster.
Once you acquire the property, you will need to have tenants to start earning on your investment. If you don’t want to deal with trying to find tenants, vet them, and get them moved in, you may want to get some help.
Most turn key rental investors will hire a property management or leasing company to help with this task. They are skilled at what they do and can likely get the property rented much faster than if you were to try to do everything on your own.
How You Can Start Investing in Turn Key Rentals
Wondering how you can start investing in turn key rentals?
At LAS Companies, we specialize in providing turn key rentals for investors like you to choose from. We can also help you determine if this type of investment is best for your specific situation.
Fill out the form to connect with a member of our team and get started.