Rehab vs. Turnkey

[Winston Eastman]

Hi all,

I want to invest in a rental property out of state. It will be my first time buying a property. I was just wondering what makes an investor want to purchase a property to rehab vs. buying a move in ready property. My budget is small and it seems easier to buy a turnkey property to start out. But David Greene suggests those aren't necessarily a safe move and to do the work yourself. Just wondering what some have experienced with these two options and why they like one over the other.

Thanks in Advance and cheers!

[Min Zhang]

Hey Winston, I recommend starting with a turnkey cash flow rental. It’s the simplest way to get a feel of what it is like to be a landlord without going through the hassle of managing rehab projects. I started purchasing a small multifamily in Columbus, Ohio 2 years ago. The cost of entry is low while the cash flow is high. Columbus is the only Ohio market that has seen rapid growth in jobs and population. Let me know how I can help you.