The phrase “turnkey investment” is bandied about quite freely in the real estate community. If you go on any of the ubiquitous real estate flip sites, it seems like everyone and their brother has a supposed “turnkey investment opportunity” for you to buy. The reality is less rosy. When you actually purchase a genuine turnkey investment, you should expect a lot more than you’ll get from those other guys. At AREI, turnkey investment actually means something important to our company. Here’s what you can expect when you make a turnkey investment with American Real Estate Investments.
How We Choose Our Properties
First, we make sure we get a very good price on all the properties we buy so there is abundant value for our investors after we’ve completed renovations. We acquire distressed properties from a variety of sources, including government listings, REO agents, private sellers and more.
We Conduct Extensive, Quality Renovations
After the acquisition, our expert contractors do a thorough inspection above and beyond what you’d get from an ordinary home inspector. We dig deep to make sure that we take care of every little thing that might be an issue. At that point, we use our own highly skilled contractors to conduct extensive, quality renovations. We install new floors, trim, woodwork, doors, and windows. The HVAC system gets replaced, as do the kitchen and bath fixtures. We even install new electrical wiring, rooftops and drainage systems as needed. This brief list doesn’t include all the renovations taken care of by our contractors. You won’t get that with any other turnkey investment seller.
We Place Quality, Screened Tenants
Of course, turnkey wouldn’t be “turnkey” if our investors had to figure out how to rent out the properties they purchased from us. That’s why we add value to our turnkey investment properties by placing quality, screened tenants. Our applicant criteria are very high. Income needs to be three times the rent, which automatically ensures that tenants earn more, which typically means they are professionals with established careers. These types of applicants are much less likely to be susceptible to sudden job loss and subsequent inability to pay rent.
We Provide Property Management Services
A true turnkey investment means you won’t get woken up to fix a leaky faucet in the middle of the night. You won’t get called by the police about a noisy barking dog on your rental property that isn’t even supposed to live there. You won’t be forced to pester your tenant about their late rent check. With AREI, our property management services take care of everything from clogged plumbing to rent collection, contract signing, and much more. Now that’s true turnkey.
So what’s left? After the acquisition, renovation, tenant screening, tenant placement and property management is taken care of by AREI, what’s left for you, the investor to do? Not much. Sit back and relax and enjoy being a genuine turnkey real estate investor with us. Contact AREI today to learn more about what you should—and can—expect from a turnkey investment with American Real Estate Investment.