A turn key property is one that’s ready for move-in as-is, no improvements or repairs necessary.
How “Perfect” is a Turn Key Property?
The term turn key doesn’t mean a property is perfect – no house is. Instead, it means that buyers can move into it without making any repairs or improvements… which is basically what buyers expect in the first place.
And that’s where you come in.
As a real estate investor, it’s your job to make the home as marketable as possible so you can sell it quickly (and at the right price).
That includes ensuring all appliances are in working condition, and that there aren’t any obvious or in-depth issues with the house’s structure, electrical system, or plumbing system. That goes for the HVAC system and every other system in the house, too.
Your buyers will still most likely need an inspection, even if you and your agent are marketing the property as “turn key,” so it’s always best to make sure it really is move-in ready.
Are You Looking for a Hard Money Loan to Buy a Property?
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.
Read our frequently asked questions and take a few minutes to learn about the hard money loan process.