How Many started out buying properties that are called turn key

Question

Just interested to know about any good or bad experiences with these company's that want to sell you investment property's with renters already in them, or sell these turn key property's. I know there is not as much money, but my thinking is it will start my dipping my toes in the water. Or is it better to jump in and learn more that way.

Adam Schroeder · Answer

I started out buying turnkey, have only ever bought turnkey/build to rent, and will only ever buy turnkey/build to rent. I get that I'm not getting that forced equity out of a property, and maybe my cash flow is a little lower, but that's worth it to me to come in and not have to worry about the condition. I know my desires, and actively working on a property is not one of them.

Nowadays I actually work for a turnkey company, and I wouldn't be doing that if I didn't believe in the model. In my opinion, if you have a job that you either can't or don't want to leave it's the best way to go.

Nicholas D Volonakis · Answer

Thanks for your input Joeseph I have a meeting with JWB in Jacksonville Florida to discuss some possible turnkey properties

Joseph Schweizer · Answer

Hi @Nicholas D Volonakis!

I felt like turnkey was a good way for me to get started with RE investing given my current situation. I purchased a turnkey property (see post below) about a year ago and things are going well so far. I learned a lot from going through the process of evaluating a real property, performing due diligence, purchasing the property and owning the property. I am currently saving capital for my next investment and I plan to go turnkey for that property as well.

Turnkey can be a good strategy for some depending on your specific goals and experience. You will definitely want to perform your due diligence on the team, the property, neighborhood, etc.. This goes for all investments though. With any of the various RE investing strategies, there are pros and cons. You will need to evaluate those pros and cons and determine if a specific strategy will work better for you.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!