First investment property

[Brian Wilson]

What are the cons of buying an investment property that is move in ready and needs no renovations or anything?

[Emily Howlett]

My first thought is that you won't be able to force appreciation unless you happen to get an awesome deal upfront. That will also affect how much income you'll make - profit margins will be slimmer. 

[Cameron Braig]

As Emily put, the lack of forced appreciation can limit upside. But depending on goals, investment strategy and timeline it may still fit within your parameters. Those being clearly define can help evaluate potential deals. 

[Joshua Janus]

If it is turnkey, ready to go and is the nicest house in the neighborhood or street? Then don't bank on much appreciation as the rest of the neighborhood will need to catch up. If it's a property that is in the middle of the pack but ready to be leased, that can be a great idea for an out of state investor. 

[Patrick Bavaro]

@Brian Wilson there’s nothing wrong with It at all! Just need to find the right market and deal. I’ve done 2 of these over the last 6 mo and the numbers work nice. I’m actually using a turnkey company right now to build a 4/3 out in Cape Coral. All in cost was about $270k, estimated rents are about $2300/mo and post construction appraisals are averaging $377k for this model. It’s an excellent investment for new investors (this Cape Coral one was my first ever). Good luck and feel free to reach out with questions!