How College Graduates Can Buy Turnkey Rentals
There’s a misconception that only seasoned investors buy turnkey rentals. While it’s true that the majority of turnkey rental buyers are older, that doesn’t mean that this investment class is off limits to younger buyers. In fact, investors in their early 20s have more to gain from buying turnkey rentals than buyers who start investing in real estate later in life.
The Benefits of Investing in Turnkey Rentals Right After College
The earlier you buy a property, the more potential there is for that property to exponentially increase in value during your lifetime. With the right turnkey rental in the right market, your early investment could translate into a virtual insurance policy when you need funds for things later in life. You could sell or borrow on a turnkey rental to get funds for a down payment on a private home purchase, money to start a new business or money to pay for unexpected expenses such as medical bills.
The income from a turnkey rental purchase can be used to help pay off student debt. As soon as you graduate, you’ll be responsible for making payments on your student loans. This obligation takes a bite out of the monthly income you receive from your first “real” job. Every dollar you get from your turnkey rental helps offset your student loan debt against the income from your new job.
The on-time mortgage payments you make on your turnkey rental purchase help establish and build your credit as a newcomer to the world of debt management. Maintaining excellent credit is key to financial success. Few recent college graduates have sufficient credit histories to qualify for larger investment asset types that can build great wealth. But when you start establishing your good credit with regular mortgage payments right out of college, you put yourself on the fast track toward real wealth-building strategies that can sustain you and your family for generations to come.
How to Invest in Turnkey Rentals as a Recent College Graduate
The first thing to do if you’re interested in investing in turnkey rentals right out of college is to work with a qualified and experienced turnkey provider. Not all turnkey providers are the same; not all turnkey providers offer the same services.
What you’re looking for is a turnkey rental provider that will respect your investment dollars “even though” you’re a young recent college graduate. You want a turnkey provider that doesn’t have a problem showing you the ropes; a provider that will have patience with all your questions.
Look for a turnkey provider that offers help with finding financing. You want a company that works with a variety of buyer scenarios, including those who don’t yet have regular W-2 income from a salaried job. This will enable you to explore creative financing options that best align with your unique situation as a recent college graduate.
Use a turnkey rental provider that offers affordable properties. While there are plenty of turnkey rental properties around the country at high end prices, you don’t need to overextend yourself financially in order to get into turnkey rentals as a recent college grad. In fact, you can find very affordable, cash flowing turnkey rentals for less than $20,000 down.
Finally, work with a turnkey provider that understands your unique needs and goals as a young college graduate. Here at MartelTurnkey, we’re very sensitive to the needs of college graduates. One of our owners, Antoine Martel, hadn’t even graduated from college when he bought his first turnkey rental property. If anyone understands your position as a recent college graduate, it’s us. If you’d like to get started as early as possible in real estate investing in turnkey rentals—even if you haven’t yet graduated from college—get in contact with us. We’d be happy to answer any questions you have, help you get started or just get you on the list to receive regular email updates from us. At MartelTurnkey, we have no preconceptions about your viability as a real estate investor, no matter what your age. We look forward to hearing from you.