Turn-key or value-add?

[Larry Chen]

Greetings BP community.

I've been spending a few weeks analyzing dozens of deals a week in my markets and I was curious how everyone approached their first House Hack or investment rental? Did you prefer something turn-key [and ready] or did you want to find a value-add to raise some equity after a few weeks/months of rehab? Granted, not all turn-key properties are without faults that may need improvement within a few years but there should be reasonably less need for maintenance than something needing a rehab. On the other hand, the rehab/BRRRR gives you equity sooner to refinance or have an exit strategy.

I appreciate any thoughts and feedback you may have.  In other news, if anyone is browsing the NJ market, I'd love to connect and talk about what you're working on.  

Thanks in advance.