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COVID-19 has changed the way many industries reach their customers. Once in-person operations have suddenly shifted online, and working remotely has become the norm for businesses across the globe. While investing online is not a new concept, it certainly is an over-saturated market that has both it’s positives, and it’s negatives. Here, we’ll discuss the “virtual” turnkey market and some pros and cons for investing online.

Pro: Small Scale Investors

One of the biggest benefits of remote real estate investing is the ability for small-scale investors to get the same access to properties as large scale-investors. In the past, it was common to see larger investors scooping up properties hard and fast; leaving little opportunities behind. If you’re in the market for a cost-effective way to invest in properties, check out the Detroit turnkey rental market.

Con: No In-Person Tours

While being able to view properties online in the comfort of your own home is appealing, it also is hard to gauge exactly what the investment property is like. Pictures can easily be edited to showcase the property in the best light when, in reality, that could be farthest from reality. This is why it’s extremely important to research the seller of your turnkey rental opportunity before investing.

Pro: Diversifying Your Portfolio

Diversifying your portfolio happens over time, but is much easier with a plethora of options available online. Diversification is the practice of spreading your investments around so that your exposure to any one type of asset is limited. One of the pros associated with remote real estate investments is that opportunities, both large and small scale, are widely available to the public.

Con: Finding Good Property Managers

One of the largest cons of remote turnkey property investing is that it can be extremely hard to search through thousands of property managers. When looking for a property manager, look for someone that has good organizational skills, is tech-savvy, and good with people. Detroit Investment Deals is a local investment property supplier to the turnkey rental market in Detroit. From full-service maintenance to online accounting, we are the property managers to have on your team!

Interested in all-inclusive Property Management Services? Contact Detroit Investment Deals! With over 40 years of managing business right here in Detroit, we can offer your turnkey the best-customized service.