As you venture into residential real estate investments, it’s better to plan how you’ll manage the property sooner than later. You can go it alone with a core group of skilled subcontractors, or turn it over to the professionals who specialize in turnkey rentals.
Which you choose could be a matter of preference, or it could be a decision based on necessity. You may be too far away to handle the little things, or don’t have the skills the job takes. .
Investors who own and manage their own properties will eventually need the services of the many disciplines involved in real estate. Building a real estate investing team with qualified, professional people who can maintain your home and support your investment is critical to your success as an investor. Finding your team and managing the relationships can easily be one of the most time-consuming parts of being a real estate investor. Those who opt to use turnkey management professionals have each of these services available on an as-needed basis, which can ease the burden.
You’ll be able to find the support from these disciplines by using:
When you use professional property managers, you put as much responsibility as you need for the property in their hands. They specialize in acquisition, leasing, and maintenance. They use a cadre of trusted resources for each aspect of the properties they manage.
Not only do they save time, they make it possible to own property in locations far from home. Even if you live nearby, you won’t have to search for someone to help you with any aspect of investment properties.
Most turnkey property management groups let you choose what services you’d like them to provide, and which you can assume yourself. Many investors take advantage of their acquisition and leasing skills, since both require judgments best made from intuition and real life experience.
JWB has more than 10 years experience managing turnkey rental property investments. We have a consistent approach that delivers steady cash flow from our clients investment properties. Curious what your cash flow could be from one of our rental properties? Try our cash flow calculator or contact us to learn more.