Return to site

What is a turnkey property and what is the advantage of buying one?

Angus Reed

· Real Estate

Turnkey is a type of property that is constructed to be sold to another buyer for example - a home that is fully functional is constructed to be sold to a home buyer who wants it to be move-in ready.

Angus Reed, a real estate expert from New York explained what the term means and what the logic behind such an investment is.

broken image

In real estate, the term “Turnkey” is specifically used for the property that is bought and constructed/rehabilitated and leased out to tenants. These properties are usually bought by companies that have a lot of experience and skills in the restoration of old properties. These firms sometimes also provide property management services to the buyers and make it easy for the buyer to find a renter. This saves time of the buyer and makes the investment more attractive.

In general, the term is used by the realty companies to describe any such property that is renovated and is move-in ready. This offers a good investment option to an investor who wants to invest in real estate but cannot invest his time in renovating. Although renovation offers a good return on a property, it takes a lot of time and energy to do it. And above all, a person is required to have sufficient knowledge and must know skilled labor to do this.

By buying a turnkey property, an investor is saved from all this. All he needs to do is inspect the right property.
 

Angus Reed an Property realtor is a Managing Supervisor of Lotus Equity Team, Get in touch with Angus Reed online on Twitter, LinkedIn, Wikipedia and YouTube.
 
Read more just how Angus reed won the high court case against Sunland team.
 
Sunland ordered to pay the $6.7 million legal fees of Angus Reed after botched Dubai deal
or
Dubai dealers Joyce and Reed chase Sunland’s $6m costs