Top 4 Markets for Turnkey Investing
As a turnkey provider, it’s my job to analyze market growth and performance, so I can present my investors with the best cash-flowing properties available. This often means that I’m examining several promising markets at once and evaluating criteria such as population growth, local economy, employment, and housing stats. While the core of my business is located in 2 major markets currently, which I’ve detailed below, there are a couple other markets that are ripe for turnkey investment. Here are what I believe to be the top 4 markets for this investment strategy right now.
- Kansas City – KC has been my base of operations for a while now, and the turnkey market is still going strong. I’m adding more properties to my inventory every week, and there’s no shortage of investors looking to buy and tenants looking to rent. The city continues to grow in population, and the local economy is growing slowly but surely. While this slower growth rate doesn’t generate the excitement of a boom economy exhibiting record growth, it does represent stability and plenty of options for investors looking for low-risk opportunities.
- Dayton – Dayton is my other primary target area for turnkey investments. Like other cities in the Midwest, it’s got a lot of attractive features for both investors and renters – namely the low cost of living. Dayton is well below the national average in cost of living, meaning you can stretch your dollar a lot farther in this Ohio city. The city sprawl is also slowly creeping closer to Cincinnati, which can open up even more opportunities. Businesses are also noting the positives of locating in this area; Dayton currently has 10 Fortune 500 companies and 17 Fortune 1000 companies. This translates to good jobs for local residents who can earn more money and therefore have more to spend on housing. For investors, this is all great news.
- Birmingham – Like Indianapolis, Birmingham is the most populous city in its state. Located in north-central Alabama, this southern gem has a population of roughly 1.2 million and a vibrant employment scene. Some of the big industries in the city are manufacturing, banking, medical research, and publishing. The median home cost is around $110,000, but many investors are finding good quality properties in the $80k to $100k range. This is great news for turnkey investors who are looking for something that is both affordable and immediately cash-flowing.
- Indianapolis – With a metro area population of nearly 2 million people, Indianapolis is the biggest city in Indiana. It’s also one the best places to invest in turnkey rentals. The local economy is growing, and the city is especially friendly to businesses. There are a number of positives for businesses relocating to the area, including low taxes, a stable and balanced budget, and a AAA-debt rating. All this translates to more jobs and more people moving to the city in search of those jobs. Of course, they’ll all need a place to live, too, and many will be looking for affordable rental properties. Between the job scene and the overall affordability of the city, it’s an attractive place to live/work. There’s also a robust housing market with plenty of options for turnkey investors.
Each of these markets has something important to offer turnkey investors. The economies are stable and growing, population is increasing, and employment is on the rise in each. Housing prices are affordable for both investors and tenants. There are attractive features in terms of recreation and culture that will appeal to local residents. What does this all add up to? Affordable turnkey investment opportunities with immediate cashflow potential. If you’re ready to take the leap into turnkey, don’t wait to get in on the action in these top markets.