Turn Key vs. Value add

[Jacob Willett]

I am preparing to start looking for my first house-hack property and I am not sure whether a turn key, ready to go, property or a property that needs a little bit of work is right for me.

Obviously I would like to reap the equity benefits of adding value to a property through renovations but on the other hand this will be my first property and I don't want to bite off more than I can chew on the first go. Another consideration of mine is money. I don't have a ton of capital to work with so I am hesitant to jump into a renovation project for fear of running out of money halfway through and being stuck with a property that's not bringing in any cash.

I would love to hear what you guys went with in terms of your first deal and how that worked out for you!