Getting started in Real Estate Investing

[Ryan Harvey]

Hey everyone, as the title states I am looking to get started in real estate. I have been doing the research and now I need to get my feet wet. I am currently in Southern CA which is a great market, but is tougher towards landlords and not as cash flowing as other parts of the country. 

That being said would yall recommend using a turnkey provider to get started? I have been looking at several different providers in Texas or Florida. I find the turnkey model appealing to get started but am curious about others experiences

 I would eventually like to jump to multifamily but I figured everyone has to start somewhere.

Also I know you should hold your properties under an LLC, but you first buy the property in your name then transfer correct? That way you can use conventional financing? I haven't found many answers for that question so i just want to confirm.

I appreciate any advice and hope everyone is having a nice weekend!

Thanks :)

[Timothy Lewis]

Originally posted by @Joseph Schweizer:

Hi @Ryan Harvey!

I liked the turnkey model because I work full-time outside of real estate and was looking to get started with investing while minimizing risk and time. I closed on an OOS, turnkey property in Kansas City, MO this past October 2020. I plan to buy a few more turnkey properties as well. Turnkey is not for everyone, but I felt like it was a good fit for me! I wrote a post about my first investment (see below)!

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

I Second this. The turn key model works well for me MOST OF THE TIME. You have to be real careful and selective about which turnkey provider you go with. And don't ever assume the numbers they provide you are accurate. Everyone has their own opinion of CapEx and maintenance repairs. Do your own diligence and do it well.