You’ve decided that turnkey properties are the perfect real estate investment opportunity for you. You’re ready to research, invest, and get those renters renting and signing those rent checks. But, being a thoughtful and financially responsible individual, you want to make sure that you’re saving money on your turnkey property investment. Keep reading, because we’re here to help you out.
What Are Turnkey Properties?
When you invest in a turnkey property, you’re buying a move-in ready home for other people to live in. It’s like being a very hands-off landlord because while you’ll be the owner of the property, a turnkey management company will manage the day-to-day issues of the property and the tenants. Owning turnkey properties can be a great way to make some passive income, but before you start looking at all of those beautiful homes, know the ups and downs of the turnkey property game.
How to Save Money on Turnkey Properties
One of the best and biggest ways to save money on turnkey properties is to talk with a professional, like the people at Jason Hartman, to discuss your investment opportunities and your future investment goals. Turnkey property companies are not all created the same, so it is essential that you do your homework before doing business with a turnkey property seller.
Another money-saving technique in turnkey property investment is to make sure your turnkey property company offers a warranty. Many turnkey property companies offer warranties for the houses themselves, ensuring that you won’t be financially responsible for any major house issues during the warranty period (like heater problems, plumbing issues, or structural damage). Some turnkey property companies even offer a warranty on the property itself: if you’re not happy with it within the warranty period, you may be able to sell it back to the company itself.
Know What You’re Doing
Inevitably, you’ll have to face fees when you invest in turnkey properties. There might be acquisition fees from the turnkey property company, up-charged properties, or property management fees. While you might not be able to avoid these, if you understand their purpose before signing anything or starting your turnkey property journey, you’ll be better able to spot a scam or question unexpectedly high prices. A high-quality and experienced turnkey property company should be upfront with their fees, and you should never hesitate to ask questions about what it is that you’re paying for. In addition to knowing what you’re paying for, do your best to understand the entire process of investing in turnkey properties. With the help of Jason Hartman, you’ll be going into the turnkey property business knowing how to make the most of your money and how to make the most money possible. You don’t have to know every single detail of turnkey property investing, but the more you know the more confident you’ll feel in your eventual purchase and the company with whom you choose to invest.
Know the Location
Even if you’ve decided to invest in turnkey properties, your decision making isn’t done. One of the major benefits of turnkey properties is that you can make money from them from anywhere: no matter where you live, you can make money from turnkey properties in cities across the country. However, not every city is created the same. Make sure you do your research about your chosen location and take advantage of the professionals at Jason Hartman to give you a head start. If you’ve decided that investing in turnkey properties is for you, congratulations! With these quick steps and consultation with Jason Hartman, you will be well on your way to making a significant income through turnkey properties.