What Makes a Smart Investor?
Investing in turnkey rental properties is a smart idea no matter how you look at it. It’s especially great for people who have previously shied away from owning rental property because they don’t want to be a landlord. With turnkey rental properties, the hassles of being a landlord fall away. Through competent property management and a partner in turnkey rental properties, anyone can build passive wealth income through real estate. But it also takes a smart investor to really make good decisions about real estate investing. Following are the qualities that makes a smart investor.
Leaves Cash In Reserves
While a smart investor is willing to spend money to make money, that won’t mean draining the bank account. A smart investor always keeps sufficient reserves on hand for themselves. If there isn’t yet enough cash on hand to both invest and maintain a healthy financial “safety net,” a smart investor will wait until they can comfortably do so. At MartelTurnkey, we often cite that real estate investors should be ready to invest between $20,000 and $30,000 as a down payment on a turnkey rental property. But if that $20k or $30k represents your entire life’s savings, if it’s draining your kid’s college fund, or something similar, we would prefer that you wait until you are able to invest without wiping out the only thing standing between you and financial ruin! Building a wealth portfolio involves risk, but not that level of risk.
Willing to Work to Relax
It sounds like a dichotomy, but smart investors know that sometimes work is a step toward relaxing. Smart investors know that a lifetime of passive income is worth some hard work to get there. This simply means that smart investors know that if they don’t yet have the cash to invest in turnkey rental property, they may have to work a bit to earn that cash. We covered a few ideas for earning extra money to invest in a previous blog post. They include things like working a second, part-time job. For most men and women, working yet another job is a huge time commitment that takes away from relaxation time, family time and more. But when the pay-off is having enough money to invest in reliable, passive income for a lifetime, smart investors realize that the hard work in the short-term is worth the relaxing lifestyle in the long-term.
Considers the Partner First, Then the Deal
Smart investors look for long-term partners whose goals and values are aligned with their own. They understand that it takes time to vet a real estate investment partner. It’s no small matter to entrust your money and future to a turnkey rental company. We covered the important things you should look for in a turnkey rental company in a previous blog post. Features include transparency, excellent client testimonials and more. Smart investors first look for a sound investment partner before considering the actual deals that the partner offers.
Understands That One Isn’t Going to Do It
Smart investors know that investing in just one turnkey rental or one stock, or one little bond isn’t going to dramatically alter their future. They know that it takes long-term, consistent investing to build a wealth portfolio that provides enough passive income to live on. That’s why, at MartelTurnkey, we offer multiple investment properties to buy in several different markets. When you’re ready to buy your next turnkey rental property, you can be assured that you’ll find something available from our turnkey rentals for sale web page. Smart investors immediately prepare to buy their next turnkey rental property after buying their first, because they know that’s the path to true passive income wealth.
MartelTurnkey would like to be your partner as you build your own wealth portfolio of passive income. We hope to make the journey with you into a lifetime of passive income that leaves you free to pursue everything else you want in life. We also want to educate you so that you can be the smart kind of investor who manages their own financial situation with intelligence. We hope you’ll find these tips useful as you choose your next turnkey rental property from us.
“It was truly a pleasure partnering with MartelTurnkey on the purchase of two rental properties in Memphis. These were our first out of state rental properties for my partner and I. Although we’ve never visited Memphis, Antoine ensured we were connected in every stage of the process.”
~Sabrina & Lashawn, Plainfield, NJ