subject: Turnkey Rental Properties in Detroit and Southeast Michigan Offer an Excellent Return on Investment [print this page] The term "Turnkey Investment Property" is becoming more and more popular in real estate investing. As the name implies, turnkey investment properties are setup for an investor to simplify the process of obtaining rental properties. All of the work to setup the property has already been completed by the turnkey specialist and the investor can simply purchase the property and start collecting rent checks. For many investors, this is a much preferred method for obtaining rental properties because they avoid all of the hassles of setting up a rental property:
Locating Neighborhoods to Invest In
Determining Rent Comps
Finding Properties
Making Offers on Properties
Arranging Utilities
Pull Permits
Hire Contractors
Renovate Property
Hire Property Manager
Register Rental Property With Local Municipality
Show Property to Prospective Tenants
Screen Tenants
As you can see this is a fairly daunting list of activities to setup a rental property and can demand a considerable amount of time. Quite frankly these activities are better left to be handled by a turnkey specialist. This is especially true when an investor wants to invest in markets outside of their local area. The right turnkey specialist will have a system in place to provide investors with the best properties in the best areas at the lowest prices to ensure the highest return is achieved.
Michigan Turnkey is one such company providing turnkey rental properties in Southeast Michigan for investors worldwide through their proven turnkey investing system. This system employs the following fundamentals for all of their properties:
Property Location Michigan Turnkey spends an inordinate amount of time researching the local real estate markets where they are buying properties. Most of the best investments are located in urban areas where prices are depressed and rental markets are strong. In these areas the quality of the neighborhoods can vary considerably within a few square miles. Therefore it is critical that your turnkey specialist have an in-depth knowledge of the market.
Home Criteria Michigan Turnkey only purchases property that meet the criteria listed below. This ensures that the properties are in good structural condition, and that they will make for excellent demand on the rental market.
2-4 Bedrooms
1-2 Bathrooms
700 1300 Sq Ft
Must Have a Basement
No Structural Issues
No Water Damage
"Green-Hab" Renovations Each of the properties is fully renovated using the principle of "Green-Habbing". As it implies, "Green-Habbing" focuses the renovations on using green materials, and providing an energy efficient home. Insulation, windows, sealing air leaks, high efficiency appliances, high efficiency furnaces are all areas of focus when green-habbing a property. The advantages that green-habbing provides are many. The home will require lower heating bills making it desirable for tenants, the home's value will be increased, tax credits are received for the renovations, and most importantly it's the right thing to do for the environment.
Focus on Return On Investment Each property must achieve a minimum of a 16% return on investment for the investor purchasing the property. This is realized by having the systems in place to locate the right properties, minimize renovation costs, and ensure rental rates will support the income required by the property to achieve this level of a return.
Through these fundamentals, Michigan Turnkey is providing an excellent opportunity for investors worldwide to invest in a great real estate market. The conditions are right, and the time to invest in Michigan is now. Low housing prices and strong rental markets make for excellent turnkey rental opportunities, and when you couple that with the probability of high appreciation in the Michigan real estate market it's really a no-brainer to be adding Michigan properties to your portfolio.
Turnkey Rental Properties in Detroit and Southeast Michigan Offer an Excellent Return on Investment
