Turn-key Small Multifamily as First Investment?

[Tyler Followell]

Hey all,

A little background of myself, I am a graduating college student pursuing real estate investing as soon as possible. I have worked numerous real estate internships/jobs from a Leasing agent for nearly a year to an Internship in Real Estate Lending at a Large Bank. I am grateful enough to be graduating with no debt and have worked on my credit as well as passively saving cash for downpayment, reserves, closing costs etc.

To any experienced investors, I am narrowing my search to relatively turn-key multifamily duplex investments in a great location with minor improvements needed as my first investment property. How would this look if I am looking to scale quickly? Techniques to scale? Pros and cons to turn-key investments? 

I appreciate any and all comments and I hope this post generates productive discussion for those thinking about starting out as well. Thanks!

[Dan Guenther]

@Tyler Followell

Welcome to BiggerPockets! It sounds like you already have a solid trajectory going forward. What has you most interested in turn-key multifamily as your first investment? What markets have you started to scope out and what is your long term goal? 

There are a lot of pros and cons when it comes to turnkey properties. When it comes to scaling, if you are buying a duplex in a great location with minor improvements needed, there is very little room for any value add. You may want to start by choosing a market to start analyzing and just practice running some numbers. It can also be helpful to keep an open mind as you are starting out. Look into different strategies that may allow you to get in the door with decent returns for example house hacking using the rent by the room strategy. 

If you'd like to chat in more detail I'd be happy to help out. 

Good luck!