Narrowed down to Ohio and Tennessee - now what

[Dorian Weber]

HI everyone one, so the COVID put a hold on my first real investment (I have a property where I live in S FL with tenants but this is the first out of state property)

I am looking for any further details on these states - from the research I have done Cleveland and Memphis seem to be good places.

Now with that in mind I was debating on going the turnkey route but most people I have spoken to say there is no real equity in those and you are buying at top dollar and you either need to ideally by a wholesale deal cash or work with a realtor but one that also has connections to contractors/builders/property management etc 

So any advice - the aim is to really be cash flowing every month as I need to increase my income so I am able to spend time with ageing parents. 

I have about 60k cash just sitting around and would qualify for a 200k mortgage (at least in florida)

feel free to pm me - im a realtor in South Florida so I understand this job board is full of hungry sales reps (and rightly so) but if you dont have the necessary connections this might not be the deal for you. once I have 2 or 3 units and a plan then for sure but in this early stages connections on the granular level would be pivotal 

If you got this far thank you and I look forward to some replies

 

[Taylor L.]

@Axel Meierhoefer would likely beg to differ against any of the turnkey detractors!

I think the question really comes back to you. Are you able to put in the time to put together a team, find deals, and do them from a distance? Or would a more passive investment strategy make more sense for you?