Types of Turnkey Properties
Our Full Turnkey Property is the flagship property that we’ve sold for 15 years. These homes are completely renovated to reduce vacancy and increase cash flow.
Because we replace functioning items simply because they’re old and perform a full renovation, the Full Turnkey Property is considered to provide the most passive experience.
We recommend utilizing financing to be able to leverage your cash which will help you build a larger real estate portfolio.
Because of the level of renovation, these homes have the largest impact on the communities we invest in, so they’re priced relative to top-of-market value.
These properties will be single-family homes, up to 4-unit multi-family.
Our Full Turnkey homes come with all the warranties established in our Turnkey process.
If you’re willing to trade some risk protection for a lower price point, you can expand your portfolio and force appreciation with Rent-Ready Properties.
What Is a Rent-Ready Property?
These are homes that we acquired, often times, with residents already in place with an existing lease and positive track record established through previous ownership.
Because there’s a good resident in place, we are not able to perform our standard renovation.
These homes don’t have our Full Turnkey Renovation, so we recommend these homes for cash purchases to experienced investors who have or are building a real estate large real estate portfolio. These properties will be single-family homes, up to 4-unit multi-family.
Our Rent-Ready Properties focus on:
- Performing safety repairs such as a CO2 and smoke detectors, GFCI installs and any other issues deemed unsafe
- Inspect and service older HVAC
- Perform repairs as we see and immediate maintenance items discovered through a buyers inspection report
- Provide a warranty on items repaired
- Existing leases will be honored – often times they are under market and have been for years
- Upon lease renewals, we will pass along reasonable increases
- Sold at a price relative to the condition of the home similar to other comparable sales
- Because these homes are priced under the top of market value, the ability for forced appreciation exists by performing aesthetic upgrades over time, replacing CapEx items as needed, bringing the rental value up
Our Re-Sell Properties connect our Turnkey clients looking to exit the investment with current or new clients looking to start or expand their real estate portfolio.
For the home to qualify for our Re-Sell Program (unless otherwise disclosed), it must meet the following criteria so we do not hand off a problem property to our clients:
- If a resident is in place, there must be a minimum of three months left on their lease or resident has indicated their intention to renew
- The resident must be in good standing with our property management company
- No known deferred maintenance items—a 90-day within the four walls warranty applies
- Re-Sell homes were renovated to the Turnkey spec during that time
Benefits of Re-Sells
Advantages to the Re-Sell program are:
- Positive track record of the resident with property manager
- Cash flow from Day 1
- Ability to implement market rental increases faster as leases are already in place
- Track record of maintenance
- Piggy back off initial renovation, plus repairs during your property inspection
- Typically there is equity in the deal based off current sales comps
Grow your cash flow quicker with more doors in fewer locations.
Leverage 1 to 4 multi-family units through a conventional Fannie Mae lender with a 25% down, fixed-rate, 30-year mortgage.
Explode your cash flow and wealth with a large multi-family property.
We specialize in buying distressed non-performing apartment communities and re-positioning them into positive cash flow Turnkey opportunities.
Let’s start building your real estate portfolio today. The process created by our Investment Team makes owning investment property remarkably easy.
- Sign up for our weekly email
- Schedule a call with our Investment Advisor, Andrew Akins (a licensed Realtor® and property investor).
- Find a property and go under contract
- Once under contract, our Transaction Coordinator, Christine McBee (22 years of experience as a Realtor®), will seamlessly get you from contract to close.