Real Estate InvestingHomebuying Glossary
Turnkey Property
A rental property that's already renovated, tenanted, and ready to generate income immediately.
In plain English
A turnkey property requires no immediate renovation or setup — it's already in rentable condition, and often already has tenants in place — appealing to investors who want to avoid hands-on rehab work.
Why it matters
Turnkey properties typically cost more upfront than fixer-uppers, trading a higher purchase price for less work and risk.
Related terms
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