First Deal: Move in Ready or Distressed

[Anthony Fiorini]

Hey BP! I wanted to put my thoughts to paper and hear what y'all think. So here is my situation. I currently live in an apartment in Lakewood, Ohio (renting) and I am looking to purchase my first property within the next 6 months or so. I have a full time job and work part-time as a real estate agent. My goal is to purchase a duplex in Lakewood and live in one side and rent out the other. I am 24 and don't have the resources to undertake a distressed property. I understand I am eliminating a lot of potential great deals. But as a young investor looking to make my first purchase, is it too risky to purchase more of a turnkey property? I am totally fine with fixing basic cosmetic issues myself (paint, carpet) but I wouldn't want to get into a situation where I would need to put 50k into a property. I am willing to take risk but needs to be calculated risk so I don't drown in my first deal. Looking forward to hearing everyone's thoughts!

[Will Barnard]

You have to do what is comfortable for you. Finding deals that need heavier rehabs can often get you a better all in price and thus, better cash flow bot of course you need to factor the time, effort and skills it studs to do that.

Be careful using the "T" word in your post description, it typically brings out all the t-key providers trying to sell you on their investments in a round about way. Clearly you are looking to find your own deal here so perhaps you may want to edit your title and remove/amend that term.