When people get into the rental housing industry and buy their first income property, they often buy a distressed house and fix it up, even if it is a personal home that they are turning into a rental. However, this solution can be expensive if the new housing provider can't do much work on their own. A more expensive, albeit easier, option is to buy a rental property that has been fixed up. The so-called "turnkey" rental property is an attractive option for investors who like a more hands-off approach to their rental property and don't want to put in time to fix up the property and make improvements. On the surface, this can seem like an ideal solution for an investor who is ready to jump into the industry.
Cameron Cowan | Knowledge Steward
There are some really great and interesting ways to build your real estate portfolio and in this blog post we're going to talk about two of them. These aren't always easy but it can help people at different economic levels enter the real estate market and start building wealth. Both of these options are really popular for younger people, including our younger members. They make getting into rental housing more affordable and they both provide the foundation for a great rental housing business.