One of the more popular and time-tested ways of creating passive income through real estate investing is to buy a property and rent it out.
However, there is often a lot of work that goes into identifying a good property and then making a property “rent ready.”
The idea of a “turnkey” property solves these headaches. They’re a great way to get into real estate investing for just this reason.
A “turnkey” property is simply a property that is ready to rent. You won’t need to make any repairs in order to make the property move-in ready.
If you’re trying to squeeze the maximum returns out of the property, you would rather “force appreciation” or add value yourself by doing the renovations yourself.
It allows you to take advantage of housing markets in different parts of the country.
When it comes to a specific property, it may also be best to get a full appraisal done by a third party.