Condo vs Fixer Upper vs Turnkey

Updated: Feb 16, 2021

Upside not as big as a fixer-upper when buying a fully renovated property with market rents.

Pros and Cons.



· Great first rental property for the novice buyer that won’t break the bank.

· A low maintenance property that won’t take up too much of your time.

· Straight forward valuation and financing with good cash flow.


· The condo boom, potential for too much inventory for rent.

· Less bang for your buck (square footage) compared with street rentals for the same price.

· A large demographic prefers a street location in a community with green space.



· Lower purchase due to poor condition.

· Great for a handy investor with vision and some spare time.

· Opportunity to renovate units to your own specs.

· Below market rents with huge potential for increased cash flow and high market value.


· Purchase requires more cash than normal due to low cash flow and valuation.

· Low rents equal long-term tenants. Patience is required to renovate units and raise rents.

· More frequent maintenance issues.



· Perfect for the high-income investor who wants diversification with steady returns.

· Quality tenants, market rents, high market valuation and zero headaches.


· Lower CAP rate and higher purchase price.

· Upside not as big as a fixer upper when buying a fully renovated property with market rents.

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