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Start a Discussion

Turn key property ?

3 Replies

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  • 1
Peter Gaston
  • 16 posts
  • 6 votes

Peter Gaston
Real Estate Agent from Spring Valley, New York

posted about 5 years ago

What's a turn key property ?

Annette Hibbler
  • 527 posts
  • 189 votes

Annette Hibbler
from Brighton, Michigan

replied about 5 years ago

Hi Peter,

The "basics" can be found here on BP. Lots of great info to get you up and running. Check out the forums. Plus you can also search on a particular topic to narrow the field.

To answer your question, a "turnkey" property comes already remodeled, with a tenant, cash flowing and property manager in place. The idea being that all the hard work has been done for you and all you need to do is "turn the key" to get in.

J. Martin
  • 3.8K posts
  • 2.9K votes

J. Martin
Rental Property Investor from Oakland, CA

replied about 5 years ago

Welcome Peter. There are a lot of super helpful people and great advice on this site! I’m a ‘fix and hold’ investor from the Bay Area in CA, and loving it! A lot of others doing flips, wholesaling, notes, everything.. A few tips..

You can tag people by typing @ before you type their name, then clicking their name when it pops up at the bottom of the message box. You can click on the ‘vote’ button if you like someone's post or is helpful, and there are ‘awards’ to earn on your profile. The "Learn" link across the top navigation bar has lots of great info, and most importantly, the BP members! Welcome to BP, and good luck on your investments!

Ali Boone
  • 5.3K posts
  • 2.2K votes

Ali Boone
Business Owner & Investor from Venice Beach, CA

replied about 5 years ago

Yep, @Annette Hibbler nailed it. It's basically an option for buying rental properties without having to do all of the work. They are more expensive of course, but they make a lot of sense for people who don't have the time or desire to find motivated sellers, negotiate deals, rehab themselves, find tenants, etc.

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