Opinions for My Next Deal

[Nick Wehrley]

I have a few different approaches I could do for my next deal and wanted to get some more opinions.

I plan to do a 5% conventional house hack and could either get a turnkey property and basically break even while living there and have everything I’m looking for or I could get a fixer upper, forego some personal preferences like a flex space, and make some money while house hacking and eventually a greater sum than the turnkey once I make it an LTR.

The fixer upper would give me room to BRRRR it and pull some money out as well, getting me to my next deal faster.

At this point the fixer upper may seem like the better deal but there is a holdup to it all. This next deal will be out of state and I’ll be permanently moving to the state. Therefor this next deal I will not be able to physically see in person, I do have a realtor doing good walkthroughs.

The big debate is whether I should just purchase the turnkey, walk into a new state and house with more security and less room for surprises and have a longer distance between this and my next deal or go with the fixer upper that is better investing wise but lacks some things the turnkey has like better layout, flex space (for visitors since I’m now out of state of friends and family,) etc…

[Nick Wehrley]

@Joshua Janus

I’d be doing a live-in flip basically so no I would not be out of state. The fixer upper is in a livable condition so if I went that route I’d begin with the renters room (renting by the room) and continue throughout the common areas.