I think investing in nonowner occupied properties are a bit different than owner occupied. The question of course comes down to an investment property often requires deferred maintenance or work to complete or update a property, of course this would not be turn key but often a lower price for the sale generally is available.
This is helpful for the ability to acquire the property at a lesser cost which leads to the ability to allow the property to cash flow after the improvements are made, essentially creating a profit.
If turn key, it may exhaust more funds or a larger financed amount due to the price however if capital is not as readily available for the improvements, a turn key property may indeed be the perfect solution.
This is exactly when it makes sense for a buyer of a home they plan to occupy. The ability to purchase a home with a lesser value and the need for basic improvements is often better in a competitive market as the trend recently is to buy something turn key, requiring little improvement.
We’re definitely seeing this in this market, and some properties, if they are listed with a perfect amount of manicured amenities tend to elicit the most offers. As an example, a property a client of mine just offered on last week in Irvine, CA had 36 offers on it, which is an incredible amount but driven by the demand in the marketplace of a home with a perfect aesthetic coming with it.
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