As a real estate professional, buying turnkey properties is one of the most lucrative investments you can make. With that said, we are providing specific ways on how to find turnkey rental properties so you can easily build your net worth, as well as your portfolio. Armed with this knowledge, you will be able to efficiently move forward with owning a cash flowing real estate asset that will produce income the very first month.
Before we dive into how to find turnkey properties, let’s start with the basics – what a turnkey property is, and its advantages.
What is a Turnkey Rental Property?
A turnkey rental property is one in which all the necessary renovations and repairs are already completed, most times a tenant and property manager are in place, and all the details are taken care of for the investor. It allows the investor to just purchase the property and start generating income immediately – creating a hands-off approach to real estate investing. Properties such as these are generally obtained through turnkey property providers, sometimes referred to as full-service real estate companies.
Advantages of Investing in Turnkey Real Estate
If you’re not 100 percent familiar with all the advantages, once you become aware of what they are, you will be even more interested in how to find turnkey rental properties. With that in mind, let’s take a look:
- No real estate investing experience needed when buying turnkey properties.
- Enables the investor to avoid time-consuming projects, research, and tasks.
- Turnkey sellers offer full support throughout the entire process.
- Allows for investing in profitable out of reach/out of state properties.
- Investors avoid making costly mistakes when working with turnkey providers.
- Turnkey real estate allows for a hassle-free/stress-free rental property purchase.
- The investor is handed a rent-ready, cash flowing piece of real estate.
- Avoids vacancy issues, which can save thousands of dollars.
- The buyer is set up to receive monthly rent checks, and in turn, create true passive income and financial independence.
3 Suggestions on How to Find Turnkey Rental Properties
Now that you know some of the key advantages, it’s time to dive into how to find turnkey properties. There are more than a few ways to go about this, but we will focus on the top 3 ways to give you a good head start.
1. Real Estate Investor Meetup Groups
Attending real estate investor meetings can open up many fantastic opportunities for your rental property business. Meetings such as these will enable you to speak to other industry professionals who can either direct you to professional turnkey providers, or they themselves may be one. Real estate investor groups, or clubs, offer incredible networking possibilities which make them worth attending.
There are a lot of groups to choose from, but a good start would be to look into a local REIA group – National Real Estate Investors Association. While at these meetings, you will find real estate investors of all levels, as well as different types of real estate industry professionals – business partners, wholesalers, investors, sellers, turnkey providers, and more. You will be sure to either find turnkey providers at these groups, or run into many individuals who can help you figure out how to find turnkey rental properties, based on their own experience.
When looking for additional real estate meetings, you can search meetup.com, with the key term – turnkey real estate meetup groups.
2. Perform a Google Search for Companies that Provide Turnkey Real estate
You can simply do an online search for key phrases such as – turnkey real estate companies, turnkey sellers, turnkey providers, or how to find turnkey rental properties. These terms should bring up plenty of pages for you to sort through when trying to find a turnkey provider that’s right for you.
Not all turnkey real estate providers are the same, so you will need to ensure all your bases are covered when selecting a company. Pay attention to what they really provide – are they just selling you the property, or are they also providing a tenant and property manager? Will they take care of the renovations? Do they conduct property market research? Will they help you with all the contracts?
Because you will be investing a good amount of money, finding the proper turnkey seller is crucial. A full-service turnkey rental real estate company that has been around a while, has a team of professionals working with them, and one who cares about their clients is what you will want to look for. When doing your google search, keep all these things in mind so that everything falls into place in your favor.
3. Inquire with Morris Invest – An Established Turnkey Investment Provider
Because finding a good turnkey provider can be difficult for those who are new to the game, and can be a bit scary if just searching blindly for a company that you will be handing your hard-earned money to; we are highlighting Morris Invest – a professional and well-established turnkey provider. Morris Invest possesses all the qualities that are required for a successful turnkey property deal.
Before diving into what Morris Invest provides, we would like to share with you, a few of our client experiences pertaining to turnkey properties:
- Read and watch Norvella speak about her exceptional experience with Morris Invest in our latest turnkey real estate interview.
- Hear from Jarret, who also talks about his experience purchasing a turnkey property through Morris Invest, with the main focus being recession proofing your investments.
- Take a look at this article where Michael discusses how his turnkey real estate investment journey has allowed him to spend less time working and more time living.
Here is a summary of what Morris Invest offers with their turnkey properties:
- We perform market research to ensure the rental is in a profitable location.
- Our single and multi-family turnkey properties come fully renovated and rent-ready.
- We also offer new construction rental properties, built from the ground up, and they come with a detailed cost segregation study. Find out why a cost segregation analysis is so financially important by reading our latest cost segregation article.
- Fully-screened tenants are placed for you, so you receive rent checks the very first month.
- Your turnkey rental will be taken care of by a property manager that we place for you. Take a look at our article that details how property managers can save you money.
- Morris Invest can consult with you on the best funding strategies – SDIRA, 401k, unsecured business credit cards, and so on. We can also set up your self-directed IRA in less than 10 minutes, if needed. Regarding business credit cards, read the review we wrote on Fund & Grow that goes into detail on the topic.
- Assist with incorporating your real estate business to ensure lower taxes.
- Make sure you have adequate real estate insurance – we typically refer all our clients to the NREIG website for turnkey property insurance.
Those are just some of the items that Morris Invest takes care of. What is your part? You just contact Morris Invest, purchase a turnkey rental property, cash your rental checks each month, and watch your wealth quickly grow. We make it super simple for you to own a cash flowing rental property, and we help you every single step of the way.
Dive into Other Rental Real Estate Articles by Morris Invest
Learn even more on the topic of rental real estate so you can be on top of your game, grow your portfolio, and become financially independent even faster:
- Are Turnkey Properties a Good Investment?
- 5 Most Landlord Friendly States
- How to Buy Properties with Multiple Investors
- Is Rental Real Estate Good in Texas?
- Top Real Estate Podcasts for New Investors
- Real Estate Investing Tools & Resources
Start Building Wealth with Turnkey Rental Real Estate!
Since you’re researching how to find turnkey rental properties, you are ahead of the game. Whether you find a turnkey property through a real estate meetup group, a Google search, or through a full-service real estate company such as Morris Invest, you are certainly on the right path. You’re setting yourself up for a lifetime of passive income, and you’re on your way to financial independence.
If you would like to have us set you up with a turnkey property, simply schedule a call with Morris Invest. We would love to work with you on reaching your dream of owning a cash flowing rental property.
Enjoy this video that covers the advantages of turnkey properties:
Ready To Build Passive Income Through Rental Real Estate?
Ready to talk about your goals? We're here to show you the tools and teach you the process to begin earning legacy wealth for you and your family.
