Real Estate Investing Glossary
Turnkey property
A turnkey property is one that is ready to rent when purchased, with needed repairs completed and often with a tenant or management already in place.
A turnkey property is one that is ready to rent when purchased, with needed repairs completed and often with a tenant or management already in place.
Why it matters to a Las Vegas investor
Turnkey suits investors who want less hands-on work, but readiness should be verified and not assumed. A thorough inspection and a review of the property’s condition still apply.
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Questions about Turnkey property
Does turnkey mean no work for the owner?
Not exactly. The owner still has decisions to make, and condition should be checked independently.
Is turnkey the same as passive?
They overlap, but passive income depends on the team and the management, not only on the condition of the property.