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The Beginner’s Guide to Turnkey Rental Properties

Written by Posted On Tuesday, 30 August 2016 19:20

Turnkey property investing is getting a lot of attention these days. But what exactly is turnkey property investing? Investing in property is an old concept, but that term “turnkey” is a newer idea. It’s really very simple: A turnkey property is one that is ready to rent out. It has been cleaned, refurbished, and updated. As the new owner, all you need to do to start getting a return on your investment is turn the key in the front door.

To make owning rental property even easier, many turnkey properties are sold and then managed by turnkey investment companies, so that the owner need not be involved in every minor repair. This system makes turnkey property investing highly attractive to both retirees and young professionals who may live and work in cities at some distance from the property location.

Research, Research, Research

The first step in investing in turnkey rental properties is to do some research. Find out if your hometown is a good city for turnkey rentals, and then look at several areas around the country. You’ll want to avoid cities such as New York and San Francisco where property values are extremely high and check out smaller mid-size cities instead. Check into the local economy, school system, and population statistics. Learn about the various neighborhoods. Be sure to look at typical rental rates in these areas as well, so you’ll know whether the location represents a place where you can expect a good return on your investment.

You should also compare different methods of financing your purchase, including traditional financing, cash, and using your retirement funds, if that’s applicable. Know which method will suit your situation best before you talk to any turnkey property investment company.

Remember to Research Investment Companies

This is also the time to investigate turnkey property investment companies. Choose a few companies in the area you've decided to invest in and learn all you can about them. Read their websites thoroughly, then go to review sites and investment forums to see unedited feedback. You should also search the Better Business Bureau website for any negative reports.

The point of all this research is so that you will know what you want, where you want it, and how you’re going to pay for it. It’s easy to get distracted when viewing properties and listening to a sales agent touting all the great reasons to buy this particular home right now. Keep your goals firmly in mind in order to avoid a costly mistake.

Work with Someone You Trust

The importance of finding a turnkey property investment company you trust cannot be overstated! Evaluate the property investment companies you’ve contacted and make sure you feel completely confident in their abilities. If their talk is all promises of fantastic returns and flawless management with few examples to back that up, you might want to reconsider. Walk away and start over with another company. Remember you’ll be working with this company for many years. You need to get started on the right foot.

Once you have these things secured, you’ll be home free. Your turnkey property investment company will take care of the day-to-day maintenance for you and you will be able to sit back, relax, and enjoy the passive income coming to you from rent and eventually the appreciation of your property.

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JWB Real Estate Capital

Mission: Changing people’s lives through an infectious culture with premium service.

Our business fundamentals are built on making a difference in the lives of every individual we encounter. With these fundamentals at the forefront of every business decision, JWB focuses on the things that have the most significant impact on our clients, staff, vendors and residents.

In the last decade, JWB has built close relationships and changed lives of clients across the country and worldwide. Through these relationships coupled with feedback from our beloved clients, JWB sets the industry standard by redefining world-class customer service. Our clients have full transparency with access to real time data, insightful metrics, and dedicated account managers that allows them to rest at ease with their real estate investments from across the country.

JWB’s 45 teammates serve as industry experts in the real estate fields of acquisitions, construction, management, and client relations. JWB commits to performance through sound investment properties comprising of Jacksonville market fundamentals, top quality renovations, and elite property management services. When a client purchases a turnkey rental property with JWB, they have expectations of performance coupled with a limited stress investment. The JWB team’s motto is to “under promise and over deliver” on those client expectations. With nearly a decade behind us, JWB has produced consistent, reliable and predictable returns for our clients. As a business which stems from humble beginnings, JWB truly feels blessed and appreciative that the growth of our business is built primarily on repeat and referral business.



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