This website and the community here have a big problem when it comes to comparing investment strategies and giving others advice. The discussion inevitably turns into a pissing contest between different crowds of people with different strategies and goals, each side bleating about how their returns are better/higher/faster/stronger, etc. It doesn't matter what strategy you post about, inevitably Mr/Mrs. "I made money during a bull market" will come around, look down their nose at you, and tell you how you could have achieved slightly better returns over some arbitrary period of time.
I will share with you my experience with turnkey investing. I bought my first turnkey house when I was 22. I had no money for repairs and the property really only made around $200 a month. I had to hear, without fail, that I was making a mistake and that I would have to replace a roof or evict a tenant and that my investment was going to blow up in my face. The general consensus was that this house was not worth the risk for $200 a month. Mind you, the people who told me these things were not real estate investors. Nevertheless, I persisted.
Over the next few years, I bought a condo, a single family home, and a duplex. I put down 20-25% on each. Yeah, like you said, its a lot of money to put down. However, now my measly $200 a month cash flow is over $2,000 a month. Each year my properties will generate enough income so that I can put put a down payment on another turnkey property. I am working on another deal that will bring me close to $2,800 a month in net cash flow. My 29th birthday is next week.
When I had one property, it was all or nothing. It was either 100% occupied, or 0% occupied. I was either making the mortgage or I was not. Now, with five doors, the risks are lower. One vacancy or bad tenant and I am still operating at 80% and still making money each month. My positive cash flow has fully funded a reserve account for all of my properties, and now if a roof needs to be replaced, no problem, I can cover it. The tenants pay off the mortgage, the properties appreciate, I claim depreciation on the properties, and I take home a nice chunk of cash every month.
Don't fall victim to the "BRRR or bust" mindset that is perpetuated around here. It's not necessary to be successful. Taking the slow route gets a bad rap. But one turnkey property leads to two, leads to four, leads to eight, and then before you know it you have thousands coming in every month and you can think about quitting your full time job.
