Turn Key properties vs Finding the perfect Deal & BPCON 2021

[Leslie Villareal]

Hello BP community,

First of all I want to give a shout out to every with Bigger Pockets and give send them some recognition for the work they did with BCCON2021.  My husband and I had had the privilege to attend this week in New Orleans and I can't begin to tell everyone how much useful information we obtained and the connections we made with so many amazing people that are in different stages in the RE journey. 

I also thought I would get a chat going about Turn-key rentals vs Getting out there and finding the perfect deal. I work with several investors all in different stages on their investing careers in the Albuquerque area and thought this would be some valuable information I could pass along to them. So obviously Turn-Key is done and ready to close on without having to rehab the property and with that being said you could assumably calculate less in repairs/capex. (maybe 5% instead of 10%)  The other side is going out there and finding off market deals either through lists, mailers, cold calls, driving for dollars etc.

I guess my question is, Were you able to find the time and what processes did you find most effective in finding off market deals with so much cash buyer competition out there?   as opposed to just buying a turn-key

pros/cons?

Thanks and can't wait to see where next years BPCON is....

Leslie Villareal