Turnkey Income Property Investing
A turnkey income property is a move-in-ready property that an investor can purchase and immediately rent out. It may be a multi-family building, a single-family home, or an apartment unit. It is typically a fully renovated property, but it may also be a new build. The appeal for turnkey income property investment lies in the opportunity it offers the investor to start generating rental income immediately with minimal effort. As the property is fully renovated (or a new build), often coming with an existing or ready tenant, and mostly including option for property management, this property investment approach appeals to individuals who desire exposure to the real estate market but who do not want the hassle associated with landlord issues or renovations/repairs.
Benefits of Turnkey Income Properties
Here are some key benefits of Turnkey Income Property investment:
- Quick cash flow: Given that a turnkey income property usually comes with a ready or existing tenant, you can rent it out pronto and start generating income quickly.
- Minimal management: You can benefit from a more hands-off investment with the option for property management that typically comes with turnkey property investment. The property management team usually handles tenant screening, rent collection, maintenance and repairs, and more.
- Diversification: You can spread your real estate investment risk by purchasing turnkey properties in markets outside your local area. Taking advantage of the professional property management allows for a more passive investment.
- Time efficiency: Save time and increase efficiency with no need to spend time searching for a property, managing renovations, or finding tenants.
- Lower entry barrier: If you have a limited budget, you have limited real estate experience, or you are new to real estate investing, turnkey property investment can be a good option for you.
Turnkey income properties help investors to diversify their portfolios, allowing them to invest in markets outside their local areas. If you are looking to buy properties in different locations outside your local area, or you are looking to expand your real estate portfolio and make passive income, then turnkey income property investment may be a good fit for you.
Investing with Select Properties
Are you looking to invest in real estate with minimal effort? Perhaps you’re an out-of-town investor, or you are new to real estate investing and want something simple for your first investment. If you want to buy a rental property and start earning income right away, Select Properties can help. At Select properties, we help clients like you to buy affordable turnkey income properties in Ottawa to generate monthly rental income. Our Wealth Builder plan includes professional management for your property, allowing for a more passive investment.
The success of turnkey property investment depends on two key things: (1) the ability to rent the property quickly, and (2) the quality of property management. We offer quality, affordable new build or fully renovated turnkey properties (apartment units) in safe, family-friendly neighbourhoods with high rental demand; ensuring that you can quickly rent your property and start generating income right away. The quicker the turnaround to rent the property, the faster you can start to earn a return on your investment. Our professional property management partners will handle vacancies, tenant screening, rent collection, and maintenance, and take care of your tenant needs. This frees up your time to focus on other tasks or your next investment.
Compared to our competitors, we offer a more promising opportunity for a hassle-free property investment and passive income.