Rochester Turn Key

[Brian R.]

I feel that turnkey real estate investing gets looked down on a bit and I know it's not as "full" or involved a way to invest in real estate but I am curious to know if anyone here has advice about a person/company who does turnkey real estate investments in upstate NY.

The reason I am thinking upstate is the low cost of entry. I have about 60k in savings and strong credit but I will not qualify for a loan since I have no income (recent college grad). I am not interested in partnering with anyone and am looking to pay cash for a turn key investment.

Are there other markets I might consider given all of this? I live in NYC and while I know and agree with advice given here about searching in a two hour radius, I don't have a car and I'm too young to rent one.

Any advice would be welcome, come one come all!

Thanks for even just reading this.

[Shannon Sadik]

Hi Brian I am an investor in Rochester. I don't think turnkey investing is looked down upon. I personally would love to find a house that didnt need any work but it is hard to find a deal or make a profit on a home that is already fixed up.  Those are ready to go and then you are competing against retail buyers (homeowners) who are willing to pay more. There are certainly turnkey properties here, and you can certainly find homes to buy for $60k cash but they are in not so nice areas. It really depends on what type of renters you are comfortable with. There are pros and cons to renting in these types of areas and you can read all about it here. But these places will need some work before renting to each next person, as I hear they can get trashed. That is when you can use a property manager to hire someone. Hope that helps!