Buying turnkey for first investment property?

[Duarte Marques]

Being out of state and to minimize risk I don't want to do any major rehab, what do you think about buying turnkey property so that it casflows around 200 bucks a month with all costs associated? I know I won't be able to force appreciation and refinance like the BRRR method but at this moment being out of state I would like to build a steady cashflow stream of income and in future years maybe start applying the BRRR method because I will be able to take more risk.

[Theresa Harris]

Most of the rentals I bought are turnkey or only needed minimal work (painting and a few small things).  There are many different ways to invest in real estate, find what works for you and do it.  If the place you found cashflows $200 a month, then that is pretty good.

If you are investing out of state, make sure you take the time to tour the home before buying it.  Make sure it is in a good area and will attract good tenants.  Some places in less desirable areas look great on paper, but they have higher turnover and attract more problematic tenants that quickly use up any cash flow.