Want to Sell? Get a cash offer in 24 hours >>

Get My Cash Offer!

What You Need To Know Before Buying A Turnkey Property In Buffalo

Are you thinking about buying a turnkey property in Buffalo? Make sure you read this blog post to find out what you need to know before buying a turnkey property in Buffalo or the surrounding area. This information could help you find the right investment and avoid the wrong one!

There are many different kinds of investments but we believe that one of the best kinds of investments for most real estate investors is a turnkey property. That’s because turnkey properties are already cleaned up, rented, managed, and cash-flowing right from day one, which means you start generating returns earlier than you would with a flip or a distressed property that you need to do all the work on before you start seeing any income.

To help you find the perfect turnkey investment, here’s what you need to know before buying a turnkey property in Buffalo.

#1. Cash flow

You’ll want to know how much it cash flows. Cash flow can vary, but ANY cash flow can be good. (Even Robert Kiyosaki’s very first property was only cash flow positive $25 a month!) The key is not necessarily a specific cash flow amount but more about the consistency of the income. If you want cash flowing properties, be sure to talk to us here at Buffalo Brick & Mortar LLC. Get in touch by calling us at 716-403-2016 and we’ll share our current inventory of cash flowing turnkey properties.

#2. Expenses and fees

As with any investment, there will be expenses and fees. It’s good to know what yours will be. Are there HOA feels? If you’re holding them inside an LLC, will there be corporate fees? If you’re buying the property inside an IRA, will there be fees to the Self Directed IRA custodian? There’s nothing wrong with fees; it’s just good to know what they are.

#3. Insurance

Buying A Turnkey Property insuranceAll real estate should have insurance, especially if you’re dealing with tenants. No matter who you buy your properties from (us or anyone else), make sure you ask them about what insurance comes with the property and whether anything else is needed.

#4. Management team responsibilities

One of the best parts of turnkey investing is getting a cash flowing real estate investment that you don’t have to manage yourself! The management team will take care of many things to help make this hands-off investment. That said, you should be aware ahead of time of what they will and won’t do. Will they proactively tell you when someone needs to be repaired or do you need to ask? Will they pay for utilities and taxes or will you get the bill? There is no right answer, you have to figure out what works for you, but just be aware ahead of time so you don’t get any surprises.

Looking for a turnkey property? We can help. Click here now and fill out the form or call our team at 716-403-2016 to see our turnkey inventory.

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

What Do You Have To Lose? Get Started Now...

FIll out the Form below and rep will reach out to you shortly
  • This field is for validation purposes and should be left unchanged.

We Buy Houses in All these Western New York Areas
716-403-2016