Getting started in rental properties

[Victor Rolon]

Hi All,

Victor here very new to real estate investing.

Got a general question I guess on how to get started in purchasing a rental property.

Been seeing a lot of properties in my market that mentions the words “turn key property”, just wanted to gage the general consensus on these type of properties and if they are a good idea to purchase as a first time investor new to the market with no available capital?

My thoughts are that I could potentially purchase one of these turn key properties and keep it for a few year to build up my capital then exit the deal and move on to better deals.

Any advice very much appreciated!

Thanks

[James Wise]

Originally posted by @Victor Rolon:

Hi All,

Victor here very new to real estate investing.

Got a general question I guess on how to get started in purchasing a rental property.

Been seeing a lot of properties in my market that mentions the words “turn key property”, just wanted to gage the general consensus on these type of properties and if they are a good idea to purchase as a first time investor new to the market with no available capital?

My thoughts are that I could potentially purchase one of these turn key properties and keep it for a few year to build up my capital then exit the deal and move on to better deals.

Any advice very much appreciated!

Thanks

 You buy rentals so that you're tenants can pay down your mortgage. These are best used as long term places to park cash. If you are just buying it & exiting it in a few years transaction costs will eat up any profits on the sale unless you've hit it lucky with some major market shifting.