Thinking about investing in turnkey properties? Make sure you read this article which reveals the 5 secret keys to building a passive cash flow with turnkey property – which works here in the 33907 zip code, and elsewhere.
Most people work their whole lives and then retire at 65 with little to show for it. But turnkey property investors know that building a passive cash flow portfolio will allow them to retire early and very comfortably. If you’re thinking about creating your own real estate portfolio, here are 5 keys to building a passive cash flow with turnkey property.
#1. Find the capital
Turnkey properties frequently offer more affordability compared to homes intended for personal occupancy. However, acquiring capital remains a necessity. Fortunately, various funding sources are available—from funds in a cash account to inheritances and even your IRA. (Feel free to reach out to us at (239)360-3176 for additional assistance in exploring alternative capital acquisition methods.)
#2. Acquire one property
For certain investors, acquiring a sizable portfolio of turnkey real estate can feel like a significant leap. While it can be a beneficial move for some, if it seems daunting, we recommend starting with just one property. Incorporate it into your portfolio and observe the advantages, then consider acquiring another, and perhaps another after that. Many of our clients gradually accumulate several properties, with some choosing to invest in them all at once while others opt for a phased approach over time.
#3. Get comfortable and see the process
Once you see the process of how it works, you’ll see how simple it is. Plus, once the cash flow starts coming in, you’ll be really excited and want to invest more. Some people spend some of their cash flow (if it’s not in an IRA) and then save the rest to invest in another property.
#4. Find more capital
Once you’re comfortable with the process and experience the ease of owning your first turnkey property with its steady cash flow, we believe you’ll be inclined to expand your investments. At this stage, you can explore additional avenues to acquire capital. If you haven’t already, consider setting up a Self-Directed IRA and allocate funds toward acquiring turnkey properties within it. Alternatively, you might explore obtaining loans to fund further investments in this lucrative venture.
#5. Partner with others
A more advanced strategy would be to even partner with others. This can work in a few different ways but you might think of it like this: the other person puts up some of the money and you put up some of the money and/or your own connections to a turnkey real estate company like us, and then you split the cash flow.
Turnkey cash flowing real estate can be a great addition to your portfolio, and these 5 keys to building a passive cash flow with turnkey property will help you build a cash flowing portfolio.