What Does Turnkey Home Mean

A turnkey property is a fully renovated home or apartment building that an investor can purchase and immediately rent out. … 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.

Is turnkey a good idea?

Turn key homes are popular for home buyers and investors who have no time, ability or interest in setting up the home themselves. If you’re looking for an easy source of passive income, turn key homes can be a great opportunity to earn returns without much effort.

Should I buy a turnkey property?

A turnkey property is a great option for investors searching for passive income that requires as little active management as possible while still accomplishing a modest return on investment (typically around 8% or less, although it may be higher depending on the market).