Offering Turnkey Rental Properties in Richmond
Few investment classes perform better over time than residential rental property, and we provide turnkey, fully-managed properties to savvy investors who want the cashflow, tax benefits, appreciation, and ultimately, the potential for generation wealth a rental portfolio can provide.
What is “turnkey” rental property?
When we say “turnkey,” we mean that the properties we sell to investors are fully rehabbed and rent-ready, and in most cases they already have tenants and property management in place. An advantage of buying turnkey properties from us is that we control the entire process from property acquisition, rehab, rental, to ongoing property management.
Above all, our turnkey property program is designed to give investors a passive income opportunity.
Why invest in rental property?
There are many benefits to being a buy-and-hold real estate investor. Here’s a brief overview of some of the main ones…
First, there’s cashflow. “Cashflow” just means the money left over after all your expenses are deducted from your monthly income from rent payments. Above all, investment properties should be a source of relatively-passive income.
Next, leverage. With rental property, you can of course purchase with 100% cash (and do better with monthly cashflow since there’s no mortgage payment), but in many cases you can also borrow up to 80% of the purchase price. Which approach is better for you depends on your personal situation, but many investors find that using leverage gives them a better overall cash-on-cash return.
Next, consider appreciation. Another appeal of owning rental real estate is that its value generally increases over time. You can borrow against this equity if you choose, or you can tap into the gains by selling a rental property later.
Finally, there are big tax advantages of owning rental real estate. Not only can you use depreciation (which is an accounting term for your ability to “write off” part of the property’s value over time) to offset rental income and pay less taxes on it, but in some cases you can use this depreciation to offset other kinds of income as well.
Take all of these advantages together, and factor in the potential to pass on real estate to your heirs, and you can see the potential for creating generational wealth through amassing a portfolio of rental properties.
Why Richmond Rental Property?
Richmond is a hidden gem when it comes to owning turnkey rental property. Relative to other smaller Southern cities like Nashville or Memphis, rental properties are less expensive, which means your returns can be better for the same investment, and the local economy is strong and growing. Plus, like most places, the demand for quality rental property is high due to an overall housing shortage.
If you’re interested in talking more about investing in turnkey rental property in Virginia, fill out the form below and we’ll be in touch shortly.
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