Possible changing strategy to turnkey

[Justin Young]

Aloha BP!

Looking for properties here in Paradise is truly difficult due to the HCOL here. I've read the tip of starting in your "own backyard" and that tip has stuck with me. With that being said, I've been trying to make the numbers work here but many times I would need to come up with an additional $30k+ to break even. My wife is a full-time stay at home mother and I wouldn't want her to work for at least another 2 and 1/2 years when our youngest is old enough to go to a day care (its cheaper than babysitter costs). So I'm pushing to make the numbers work because I wouldn't want to put my family in financial jeopardy. We have really cut back on our costs and are living a great life with higher quality even as we spend less than we used to.

I spoke with my dad about my goals of acquiring long term wealth through buy-and-hold properties and recommended I look into turnkey investments. Not knowing what he was talking about, I decided to take action and research the topic through BP and google. The concept seems very risky but it can make sense with a lot of due diligence and trust in the team. What are everyone's recommendations with getting started in turnkey? What cities to focus on? What qualities do you look for in a turnkey company?

Feeling nervous is an understatement, but I don't want to sit on the sidelines waiting for the right time. The right time is NOW! Even though I'm fairly young (29 years old), I'm acting with a sense of urgency. I'd regret looking back on my life wishing I had done everything in my power to provide for my family and future self. Aloha and thanks in advance.