All Forum Posts by: Mike Moe

@Tom Ott Thats a good point. I do have a pretty time intensive career at this point, as well as two kids! If i had to contract out everything in the rehab anyways, i assume that would eat into a lot of the equity that could be gained in a rehab anyways? Thanks for the feedback!

@Allan Smith I do have a little bit of capital to start, 30k is what i'm working with currently. The properties in the area and the quality i'm looking at turnkey is around 400k, so I'm still short on what I need to get started on one of these. I am potentially taking a partner to help with the startup costs! As far as career- I am looking to grow a portfolio that I can eventually use to replace my day job, as I'm sure is the goal of most!

Thanks for the feedback! 

Hi All!

I'm just getting my feet wet in the real estate investing space, and am hoping to get some advice from you all on my first deal.

The only experience I have in purchasing a home, is my main home I purchased a few years ago. For my first investment deal, is it best to avoid a rehab project and go with a decent turnkey property? I’m attracted to the idea of being able to rehab and potentially create some equity, but unsure if having to rehab my first property is the best idea.

For a little more context, my first property will be a STR. Thanks in advance for the info!