Investors purchasing distressed, foreclosed, and/or wholesale homes who perform a general house flip through renovation and repairs turning a home into a potential turnkey opportunity for purchase.
Real estate agents or brokers who represent (and may even specialize) in the sale of turnkey homes for sellers.
There are two distinct groups offering turnkey properties for consideration: Turnkey Real Estate Opportunities and Players īRRRR is more common for a quick resell for profit whereas a turnkey property investment is typically a long term investment strategy. Investing in this type of home is very different from the buy, renovate, rent, refinance, and repeat (BRRRR) strategy. There isn’t a consensus on what turnkey means but generally, in the real estate profession, it describes a building for sale in a move-in ready condition and often is occupied or available for occupancy without additional features or updates.įor investors, because the fully renovated property is immediately rentable or occupied, it could potentially bring in quick cash flow as there would be no upfront costs to renovate and/or bring the property up to code.Ī turnkey property would not be a fixer-upper needing rehab and repairs but rather one in next to perfect condition with or without a tenant already in place. If legitimate, what does that mean as an investor and could turnkey property investing be the right move for your portfolio? Turnkey Property Investing If you’ve seen the term ‘turnkey’ in property listings you may be asking yourself if that is just a clever marketing buzz word or a legitimate key selling point of a home.
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