Some people who invest in investment real estate do so as a full-time endeavor. This is because being
a real estate investor can take a great deal of time and work.
First, one must find a reasonably-priced property that can be improved
upon for sale. Then, one must purchase the property, while taking
into account any bureaucratic, financial, or legal entanglements
to the property. Afterwards, the person must plan and carry out
repairs, all while trying not to go over-budget. Finally, one
must market the property for buyers.
However, there are people with other professional jobs who enter the business as a side project or one-time
deal. If you are in the latter group, you may be in a situation
in which your own time is a luxury you simply cannot afford to spend
on renovating and advertising a property. Perhaps you already
have a demanding full-time job, as well as family or community concerns
that eat up the rest of your day.
If you are in this position, carrying out all the complex processes yourself is doubly daunting.
Therefore, you may want to make your investment in a turnkey property.
This is a piece of real estate that is completely ready for sale, or
even for moving in—some turnkey properties can come with furnishings
for the user. Of course, such a property is likely to be much
more expensive than one that still needs a lot of work done. However,
if you have a demanding, high-paying primary job, a ready-made
piece of real estate might be your best bet. To borrow a term
from the economists, you should also consider the opportunity costs.
You may save money by taking more time on a cheap property, but you
will lose the opportunity to generate more profits from your regular
job and side projects.
When investing in a turnkey property, do make sure to look over the house or apartment carefully. There
is a possibility that it is not as sale-ready as the agent or seller
has told you. You may also want to get a lawyer, para-legal, or
alternative realtor to look over any agreements you have to sign, to
make sure you are not being stuck with the previous owner’s legal
In this day and age, time is money. To save one, you may have to spend more of the other, but to the
who is also a busy professional, such an exchange could be well
Tell us what you think.