As a long term investor...

[Adam Craig]

As a 25 year old business owner - I approach real estate as a long term investment. I get excited about appreciation, amortization, and tax benefits more then cash flow. Not to say I don't need them to cash flow but I am willing to take less to hire a PM and rent SFH in decent areas.

I currently own 2 properties in the Cleveland suburbs where I live with PM managing them - but I eventually want to invest out of state. Because of my primary business, time is money. The time I would have to spend traveling to new markets looking for deals/finding realtors/contractors and managing repairs would hurt my primary business and not offset my lost income from not running my business.

With that said - I have been thinking a lot about TURN KEYS. Are turn key companies used by anyone here in BP that can chime in? I read all the pros and cons - I understand you have to find the right company (lots of bad ones) and will probably pay above market. But for someone in my situation with a business to run and money to spend - would it be more important just to get into the market rather then get in below market value?

I know the ROI would be less then if I found the deal myself. But with historically low rates and prices, I feel an urgency to get in.

If you were in my situation, what strategy would you use to invest out of state?

[Bill Gulley]

Lots of ways to get ripped off with turn key deals, dig deep on property value and qualification of tenant as well as history which might be hard to do.

I had a tooth extracted this am, under the ibfluence of some good meds (LOL) so that's my short version, bottom line, I suggest your time will be well spent looking at your own long term properties. If you're making a grand an hour, hire a qualified person to do it for you. :)