You may have heard of residual income – perhaps from an investor, or from a simple Google search. When looking for turnkey properties, do you really know the benefits of residual income? While there are many reasons, the main takeaways can get lost in the weeds of confusing language. Here we’ll discuss some of the main reasons you should consider property investment as your main source of residual income.
Consistent Cash Flow
One of the key benefits of residual income is the concept of consistent cash flow. Once you have a tenant in your turnkey rental property the rent is easily collected monthly through direct deposit. No matter the situation, this income will always be there as long as the property is filled. Need help finding a loyal tenant? Check out our property management services here.
Creating the cash flow from a turnkey rental property can be hard work initially, but the idea of residual income is that motivation is built right into the concept. From cleaning and designing your turnkey to finding tenants, the faster you get these items completed, the sooner you start making money! That in and of itself is enough motivation to get started now!
While it may take some time to get your turnkey property to accumulate consistent income, it becomes a breeze from there. Collect the rent check, pay your property manager, and the work is all done! There is no need for personal interaction as money gets deposited and spent directly out of the same account. Residual income really is the “no worries” approach to a consistent cash flow that ends when you do.