This content was created by Joe Homs 949-625-4533. This content was uploaded by Joe Homs 949-625-4533. This is a YouTube video titled "3 Reasons You NEVER Buy A Turnkey INVESTMENT Property" (published 2022-09-15) featuring Joe Homs 949-625-4533. It's an English real-estate advice video aimed at new and experienced investors in which Joe explains three reasons to avoid turnkey properties: (1) the turnkey provider captures the profit/equity, (2) you will likely overpay for a ready-made property, and (3) distant property managers may not care for the asset as you would. He contrasts turnkey investing with doing rehabs/flips yourself, recommends vetting property managers, and directs viewers to related content on how rental properties make money.
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In today's video, we're going to talk about 3 big reasons you never buy a turnkey property. Coming up next. Turnkey properties are for investors who have no time, ability, or interest in setting up the home themselves. Their home's already rehabbed, already furnished, and oftentimes already rented out, complete with a property manager. You just sit back and collect your cash flow. So what could be wrong with that? Here are 3 reasons why you should never buy turnkey. Welcome back, I'm Joe Homs. I made this channel to help the new and experienced investor. Don't mess up by missing another video. Make sure that you subscribe and like right now. Reason number 1, somebody's gonna do the work and obviously they're gonna take the profit out of the deal. So that's one of the reasons of 3 that I don't buy turnkey properties. Because there is no equity or profit at the end of the day. Reason number 2, you're probably and definitely going to overpay because obviously this house looks really nice. It attracts a lot of buyers to it. So you're going to end up paying a little bit more, a lot more than if you would have done the work yourself. Number 3, the property management company may not care about your property as much as you do. And a lot of times they're long distance. So please vet your property management companies thoroughly, even if you get a turnkey property. And if you don't get a turnkey property, then definitely vet that property manager as well as you can. This is really the reason that I like flipping the property myself, is because you're the one that's adding the value in there. You're the one that's going to know how much you've spent for this, this, or this. You're You know if you've got upgraded flooring there, if you're doing type of special painting, quartz countertops, whatever is going on in that neighborhood. You're going to have to look at other people that are flipping, and you want to try to match that. But you're going to know what type of materials are going into that property so that you can make the best decision on how much of a profit you're going to make at the end of the day. Many of the most profitable strategies require you to be involved with your time, your blood, sweat. And tears. Now, if you do not have the time, or you do not have the knowledge, or you just don't want to do it, there are other strategies for you. But you have to understand the returns may be much lower. If you're new to investing in rental properties and want to learn 5 ways that rental properties make money, click on this video right here. As always, feel free to reach out. I'm always here to help.
