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4 Investors Who Should Not Buy Turnkey Single-Family Home Properties, by Harold Willig

We at SpringView Investments liked an article by Chris Clothier of Memphis Invest so much that we’d though we’d share it.

The post is called “4 Real Estate Investors That Should Never Buy Turnkey Properties!

Just what is a turnkey property? According to Investopedia, a turnkey property is “A fully renovated home or apartment building that an investor can purchase and immediately rent out. Turnkey properties are typically purchased from companies that specialize in the restoration of older properties. Those same firms may also offer property management services to buyers, minimizing the amount of time and effort they have to put into the rental.”

See below for a recap of the four investor types who should not be buying turnkey properties:

1. Investors who need the income. “These investors are going to be in a bind should a property go vacant or need a repair.” 2. Investors looking to build a one-house portfolio. One property does not make a diversified portfolio. As owners of more than 100 diversified single-family home properties, we agree with that sentiment.

3. Active investors that love being active. If you love to pick paints, do drywall and mow lawns, your are not a passive investor.

4. Investors without a solid financial backing. “Turnkey real estate is a really good option for investors that are already secure financially," said Mr. Clothier, “These investors can handle a couple of months of vacancy or a high priced move-out.”

For the full story please click here.

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