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Turnkey

Turnkey

What is a Turnkey?

In real estate, property investors who may be less experienced may want to adopt a turnkey investment strategy. Getting started in real estate is often daunting so having a property that's already leased means that investors can properly estimate their expenses and cash flows because there's ample historical data.

Turnkey homes usually require little to no initial setup effort. A tenant is already in the house and there may already be an established property manager who oversees the property installed. Additionally, since tenants are already living in the unit, you won't have to worry about vacancies.

Though investing in turnkey properties may make sense, it can be far less profitable for many landlords. This is because the seller may have priced in the renovations and the cash flow and thus sold the property for market value.

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