Careful, that turnkey may become a turkey

Careful, that turnkey may become a turkey

I have touched upon this before but after more stories about Unit Owners not wanting to get involved and some of those just wanting money from the unit as a rental property, I am concerned. Here is a quote from Wikipedia on turnkey:

 

"Turnkey real estate also refers to a type of investment. This process includes the purchase, construction or rehab (of an existing site), the leasing out to tenants, and then the sale of the property to a buyer. The buyer is purchasing an investment property which is producing a stream of income."

 

It seems that only this part is understood and not the other side of the business having to do with maintaining value by studied and active involvement in the condominium corporation to which Unit Owners are legal members. Would someone explain to me the concept of spending millions of pesos then not being fully aware of the circumstances that are bringing down the value of the property?

Short-term profit is nice but the long term goal of enhanced value is being ignored by many. This is also a serious concern to those Unit Owners who occupy their property as their home. What are they to think? All Unit Owners need to join and face the serious issues.