In reflecting back over the last seven years since I bought my first turnkey rental property, I’ve had a lot of time to see where the challenges with turnkeys have typically resided.
So, what are the biggest challenges I’ve seen happen with turnkeys over the years?
The 5 Most Frustrating Turnkey Rental Issues Investors Face 1.
Think about it—you buy a property that is advertised to cash flow from day one, and someone else is doing all of the work for you so you should be able to hang out poolside with a drink in your hand with no worries in the world.
But trust me when I say that one bad tenant is far from your investment going belly-up.
Still, take into consideration whether the reason you have a bad tenant is because the property manager assigned to manage your property is bad.
While I don’t think this is always the case, I can say that every bad tenant I’ve ever had in my properties came from a bad property manager.
This is where you should never be completely hands-off with a turnkey or any other rental property you buy.
Here are some tips to support the most successful turnkey investing experience possible.
But I know that I’d much rather manage a property manager than be a landlord myself, and I also prefer cash flow to buying locally.