Turnkey real estate. Some people hear that word and get excited! Others...skeptical. Truth be told, the concept of turnkey real estate is a little divisive. Many people have had wonderful experiences with great turnkey investment companies, while others still aren’t sure what to make of the whole concept.
When you think about your real estate investment career, what’s the one thing you think you couldn’t live without? Think hard.Is it your capital? Your connections? Your credit score? Real estate investment comes in so many different flavors that’s it’s hard to say what the number one most important part of it is. What someone could manage without you might not be able to. But for turnkey real estate investors who rely on a more hands-off real estate investment model, what you couldn’t survive without is pretty clear cut.
It’s a reliable property management team, plain as day.
Even real estate investors who aren’t turnkey...they just aren’t landlords...would probably contest that they couldn’t do it without the help of their property managers. After all, someone has to be there, hands-on, taking care of all of the day-to-day, nitty-gritty details.
Topics: property management
Think about the purchases you make—big or small. We don’t often like to buy anything without seeing it first! Whether it’s a new car or a bunch of bananas, there’s a certain level of inspection we like to give anything and everything.
So for real estate investors, the notion that we would buy an investment property without seeing it first seems insane and off-putting. How can you possibly buy something that big and important without seeing it for yourself!?
Topics: buying rental property
For passive real estate investors, the first two properties are the most exciting!
It’s a time to figure things out. You make a lot of mistakes, learn more than you can ever imagine, and find both the joys and the frustrations of owning passive investment properties. But it’s also not the end—not by far.
From the first investment properties come many more to grow a strong, thriving real estate investment portfolio. This has to be THE goal for passive investors. If owning a passive portfolio is not your stated and nearly obsessive goal, then rethink your position on investing in passive properties. A solid, consistent, performing portfolio can be an absolute game changer!
Often for real estate investors, though, the idea of expanding can be a little overwhelming. Even intimidating. If you wait too long, you’ll have missed opportunities. Too soon, and you could end up straining your resources.
So how do you know when it’s time to expand past those first couple of properties, and how should you go about actually building your portfolio?
Topics: growing your portfolio
If you’re in the real estate investment biz, you’re no doubt going to come across a bad tenant at one time or another.
No matter how good your screening process is, how diligent your property managers are, and how savvy your investment strategies can be, it’s just bound to happen. Tenants can sneak past the screening process, good tenants can go rogue, and sometimes, bad things just happen.Bad tenants come in all kinds of flavors. There are lazy, neglectful tenants that run your rental property into the ground by simple lack of upkeep and hygiene. There are rowdy, unruly tenants who disturb their neighbors and make a mess with parties and a wild lifestyle.
There are tenants who like to complain, argue, and fight with your managers about everything. There are even bad tenants who break your lease at every turn—bringing in extra illegal tenants, pets, and doing all kinds of outlandish things to your property. Unauthorized construction, destruction, and damage!
And that’s not even to mention the kind of bad tenants that get into downright illegal behaviors.
So how does a real estate investor handle a bad tenant, when a bad tenant can vary so much? What do you do?
Topics: bad tenants
In the world of investment, there are a lot of options. Stocks, bonds, gold, gas, technology. There are a million ideas, products, assets, and companies all vying for the attention of investors looking to capitalize on the next big thing, or just on something that’s worth something. Something reliable and time-tested.
Real estate definitely falls into the latter: it’s one of the oldest investments out there. Even just being a homeowner is considered an investment in our culture. It’s a mark of “making it,” even today.
But why, above gold, above stocks, above all of the things we can invest our time, money, and futures into, why is real estate considered the best? What makes it such a good investment? For someone looking for a solid financial future, why should you choose to invest in real estate over anything else?
While Houston was the market in Texas that garnered the most attention in recent years for being the hottest market around, it wasn’t the only star of the show in the Lone Star state—not by far! Texas has been home to several real estate champions: Houston, Austin, and, you guessed it: Dallas.
All three cities rank in the top five real estate markets in the nation, and Dallas actually ranks ninth in the world for investments. It’s not just a seller’s market, it’s a landlord’s marke, and many real estate professionals are calling DFW one of the hottest real estate markets seen in decades.
Naturally, that’s not the full story. There are a lot of questions left unanswered about Dallas’s real estate market. How big was the impact of the oil crash? What’s the economic landscape like? Where’s the trajectory headed? What’s the long-term outlook for investors? Are rapidly increasing property prices creating a bubble?
What is the best course of action for investors who want to strike on Dallas real estate?
Topics: Dallas real estate
In real estate investment, we can hear a lot of mixed messages. When a business has been around as long as this one, there’s bound to be a few misconceptions, myths, and rumors that gets started. For new investors especially, it’s easy to fall into the trap of believing them!
A lot of these myths are no more than excuses—covering up our fears of taking a risk and trying something new. These myths, no matter how “innocent,” can actually do a lot of harm! They’re big time wasters—preventing you from pursuing the opportunities you could be capitalizing on right now.
What investment myths are you holding onto that are holding you back from your potential as a real estate investor? Let’s break down the big ones!
Topics: investing in real estate
So you’re a buy and hold investor. You’re not looking for a complicated flipping disaster, and you certainly don’t want to spend a fortune getting it right before you can start making money on the property. There are plenty of outside factors that can help you know that a property is going to be good—you can look to:
- The neighborhood
- The local economy
- The competition
- The demographics
- The amenity proximity
Obviously, if a community and a city is doing well economically, it’s growing and thriving and seeing a rise in population, it’s likely you’re going to do well, too.
Those are the markets you’re going to want to be in. That’s the broad sense. But when you narrow it down and start looking at properties individually, what really makes that specific property good and another property not good for real estate investment?
What should you be looking for?
Topics: investment property
Turnkey real estate investment is one of those things that a lot of people want to get into but a lot of people don’t really understand.
This is one of the most important articles you will read if you want to passively invest in real estate...Period!
How do it work? What’s the process? Where do I start? Is it really passive? Can I trust someone else to handle my investments?
There’s a lot of soul-searching to do when deciding whether or not you want to turn to turnkey real estate investment, but even more important than the questions you ask yourself are the questions you ask your potential turnkey investment partner.
The company that you choose to work with is paramount to your success in turnkey investing! Their success, their reputation, their experience, their expertise—it all matters!
Topics: turnkey real estate