First-time investor looking for Out-of-state turnkey

[Lu Chen]

I am an engineer working 9-5 in San Jose, CA. I just started looking for cash-flow turnkeys out-of-state, really cannot find good cash-flowing investment in state near where I live. One of the markets I have looked Is Atlanta, CA. I am taking business trip to Atlanta next week and plan to meet some local turnkey provider if possible. I am also open to turnkeys in other markets.

[Nathan Brooks]

Hi @Lu Chen .. lots of great operators here and you probably already have your basis covered. We operate out of Kansas City and would love the opportunity to chat with you and see how we can help you achieve your real estate goals. Best of luck to you sir, and feel free to message or tag me if we can be of help!

[Nick L.]

Hi Lu! I was just about looking into turnkey properties as well about 2 months ago when you first posted this. I'm also from the bay area working in a 9-5 computer tech company. It's always great to come across someone so close to me who's also looking into REI!

I also feel turnkey is the only way out for us Californians especially since home prices here are through the roof and so over-inflated. Its just not feasible anymore to put down $1.5mil for a house here only to have it rent out for $3-4k/month. You can probably get around that same $3-4k return for a 250k house in texas/arizona/las vegas, etc. I know turnkeys overcharge and markup their prices a bit but I would still be willing to buy into negative equity if I can make it all back within a year or two. Let's say you overpay for a house  (somewhere in the midwest) by $10,000 but make it all back and break even within a year or two with the rent cashflow then it would still be worth it compared to buying a $1.5mil house here in CA to get the same return. In the short run it's ok to lose $10,000 to save yourself ~$1mil if you think about it.

[Casey Powers]

^ Definitely won’t get $3-4k per month on a $250k house in TX, AZ, or LV. 

[Precious Meredith]

Hi all, need some help I was also looking at turnkey investment. Can you give some help on where or if I should go that direction.

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