Pros / Cons of Turn Key Properties
What're some thoughts on the pros and cons of investing in turn key properties? Ideally, I'd like to utilize the BRRRR strategy in order get cash flow, gain equity, and pull my money back out to repeat.
Is this possible with turn key? Can you pull money out of turn key properties if you’re not rehabbing? Is turn key more convenient because you don’t have to worry about a rehab?
Most Popular Reply
The upside of Turn Key is that you can turn around and rent it immediately without spending time and money on renovations and holding costs. This is especially beneficial if the investor is not familiar with or comfortable with doing a large scale renovation.
The downside is that you're generally paying close to market price and you don't have the ability to increase value through renovation which limits your BRRRR options.