3 Things Every Great Turnkey Company Should Offer
Ideally, turnkey properties simplify the real estate investment process; to generate passive income, build a strong – and diversified – portfolio, and leverage wider markets, all you have to do is turn the key. That’s the ideal. But what about the reality? Choosing a reliable, reputable turnkey company is essential in unlocking the vast potential these investment opportunities offer.
Now, how do you do it? Look for these three key factors:
- Deep Market Insight. Anyone can Google “best turnkey properties in Kansas City.” You need more than this to make a smart investment decision. Demand precision. Demand accuracy. Demand area-specific knowledge. A great turnkey company will deliver.
These professionals know why buyers want to be in specific locations, whether a neighborhood is on the rise, and if the local economy is shored up or shaky. They know reputations down to the block. It’s difficult to achieve this level of perspective if you’re not in the investment area.
Google is great but it’s no substitute for a team that lives and breathes your target market.
- Extensive Experience. Now’s not the time to go green. Inexperienced turnkey companies may be enthusiastic – but that means little if they don’t have the experience to back it up. Look for a long, successful track record in critical areas: real estate, property management, construction management, and marketing. Ask for a list of references – and contact them.
A veteran company will have handled hundreds – thousands – of acquisitions and rentals. They know the ins and outs and can maneuver with greater agility.
- Property Management. Turnkey. These properties should be ready to start generating income and returns on your investment from virtually day one. When you select a partner that offers comprehensive property management, you don’t have to worry about knocks on the door at 3:00 am when a tenant’s faucet is leaking. You don’t have to worry about a broken washing machine or a resident dispute.
These headaches vanish with a stellar turnkey company. They will take on the responsibility – and get the job done right.
A bonus fourth perk that every great turnkey company offers: reassurance. There is always an element of risk involved in any investment. It’s the nature of the beast! However, with street-level market insight, a record of success, and services designed to make your property work for you – instead of the other way around – you mitigate this risk and heighten your return.