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Guide to Investing in Your First Turnkey Rental Property

How Real Estate Investment Works

Real estate investing is the process of purchasing a home for use as a rental property for the purpose of generating passive income opportunities. Whether you are seeking ways to make the most of retirement or you’re looking to create a career opportunity that allows you to be your own boss and work from home, real estate investment has many benefits and few disadvantages. Here’s what you need to know to get started with your very own real estate investment properties.

Real Estate Investment For Beginners

Real estate investment isn’t a complicated process, but there can be some complicated information out there to wade through. Regardless of your budget, your desired income level, your experience with real estate or investing, and regardless of location, you can find a real estate investment property that works for you. It’s simply a matter of understanding how the process works, and knowing where to locate the best properties. Read on to find out how to get started investing in real estate properties.

What is a Turnkey Property?

Turnkey property is a term you’ll likely encounter on the real estate investment journey. Turnkey real estate properties are those that are move-in ready for tenants. Turnkey investment properties are those that have already undergone any necessary updates and renovations, and often they are managed by a real estate management group that can assist an investor with the process of finding a tenant, collecting rent, and other necessary steps.

READ MORE: How Does Turnkey Property Investment Work?

Real Estate Investment as a Career

Many real estate investors have created a career out of investing in rental properties that provide passive monthly income. Whether you’re a young entrepreneur who likes the idea of working at your own pace, from your own home, on your own time, or you’re retired and looking for a productive hobby, real estate investment can indeed provide the income necessary to create a career in investing. How much money you make depends on the amount of time you are able to invest in the process of locating, purchasing, and managing properties.

Real Estate Investor vs. Landlord

On the surface, the job description of a real estate investor and a landlord can be fairly similar, but these are actually two separate job descriptions that can be completed by one individual or multiple individuals. Some real estate investors are landlords, but not all landlords are real estate investors.

If you prefer to oversee the financial processes as well as the day-to-day management and maintenance of a property, you might refer to yourself as both an investor and a landlord, but if you prefer to have a real estate investment management company take care of the mundane tasks of collecting rent, ensuring maintenance requests are filed, and other day-to-day operations, you’ll save yourself a lot of time and energy. Just a few of the tasks a real estate investor doesn’t have to deal with as long as they have a landlord or real estate management group on hand include:

  • Bookkeeping
  • Coordinating Moving Dates
  • Lease Negotiations
  • Overdue Payment Collection
  • Scheduling Repairs and Maintenance
  • Rent Collection
  • Tenant Showings

REAL ESTATE MANAGEMENT GROUPS

 

Is Real Estate Investment Worth It?

If you commit to finding the right property at the right budget, real estate investing can be a financially rewarding career. If you invest wisely and with a solid real estate investment plan, you can grow your income exponentially.

Real Estate Investment with Little Capital

Think you have to be a wealthy heir to invest in real estate? Think again. Real estate investing is as simple as buying and leasing a home, so you can invest in properties ideal for students and young families and / or rental properties that are ideal for large families or professionals who prefer leasing a space to buying a home. The beauty of a turnkey property is that all of the work is done on the front end, so once you purchase the home, you can begin looking for renters as soon as possible.

TURNKEY INVESTMENT PROPERTIES FOR SALE

Many investors also choose to invest in properties that have lower values but are in great condition, such as in the Southeastern United States, where three- and four-bedroom homes sell for an average that compares to those of much smaller and older homes in other parts of the country. If you’re looking for real estate investment opportunities that provide the biggest payouts with a relatively small amount of capital, consider Southeastern metropolitan areas like Memphis, Tennessee and Little Rock, Arkansas, where working class families are searching for affordable housing.

READ MORE: How to Get Started in Real Estate Investment

Real Estate Investment vs. Stocks

If you’re interested in generating a usable cash flow, investing in real estate is a smart move. When you invest in stocks, not only are you putting your money at risk of depreciating, but you also don’t have quick access to it each month. Real estate investors can enjoy the benefits of growing their income and their investment portfolio without the hassle of monitoring stock values and the market each day.

READ MORE: Should I Invest in Real Estate or the Stock Market?

Real Estate Investment Groups

One of the easiest ways to make the most of real estate investment is to hire a team of experts who can guide you through the process. From helping you choose the right property to helping you select the right location for your preferred tenant, we’re the local experts on all things relaed to real estate investment in Memphis.

READ MORE: Where to Invest in Real Estate in Memphis

Real Estate Investment Properties Near Me

Ready to invest in your very own real estate property? Our property management team can help you find the perfect home within your budget. We even offer turnkey investment properties that are move-in ready for renters, so you can begin enjoying the benefits of real estate investment without the hassle of coordinating rehabs and renovations. Give us a call to learn more about investment opportunities.

LET’S GET STARTED
Posted by Clifton Stone at 3:35 PM

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