Turn-Key Real Estate Investing is not new, but there is a resurgence of interest in this investment type, especially in residential properties. Many real estate investors, new and old pros alike, believe this is the best way to invest in residential real estate. It literally takes the burden of locating, rehabbing, purchasing, and managing real estate investments.
Turn-Key Real Estate is typically a passive investment choice because it is a hands free investment which liberates you from the burden of purchasing and rehabbing the property, locating a tenant, and managing the property. A good turn-key portfolio manager will determine your investment goals and future income needs. In addition, they will not offer property investments which do not meet certain core principles.
The good news is most turn-key real estate investment companies should already have a program whereby the above principles are just second nature. Therefore, you can be fairly confident they adhere to these basic principles. However, you will want to back-check for yourself.
The most important item for consideration is choosing a management company who is not only experienced but can effectively handle the many facets involved with managing tenants and the problems which arise. You also want someone who is very tech savvy who uses technology not only with the bookkeeping process but the screening and managing of the property. It is convenient to receive monthly statements and even go online and pull these from an online portal. Of course, one of the most important aspects of consideration is good tenant screening. You not only want them to pull credit reports but to verify employment and previous rental history.
Core Investment Management Group, LLC
200 Pleasant Home Rd
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