Turnkey as first purchase? Then what?

[Young Hwang]

Hi,

I'm just starting out and trying to get a first investment property. Looked through the site and read a lot of discussions, finally decided that maybe a out of state turnkey property will be appropriate as the first investment.

However, I also have the question if I put 20% down and get a conventional loan for the purchase, how will I be able to get a second property, say, 6 months or a year later? Keep saving with the income from my day job? or are there anything else I can do with the turnkey property that can help fund my future purchase(s)?

The area I'm looking at is Kansas City, MO, which I believe has seen some appreciation over the past few years, but mostly for properties in A neighborhoods. I would be investing in B neighborhoods so I think I will need to rule out appreciation for now?

Thanks,

Young

[Tom Ott]

Originally posted by @Young Hwang:

Hi,

I'm just starting out and trying to get a first investment property. Looked through the site and read a lot of discussions, finally decided that maybe a out of state turnkey property will be appropriate as the first investment.

However, I also have the question if I put 20% down and get a conventional loan for the purchase, how will I be able to get a second property, say, 6 months or a year later? Keep saving with the income from my day job? or are there anything else I can do with the turnkey property that can help fund my future purchase(s)?

The area I'm looking at is Kansas City, MO, which I believe has seen some appreciation over the past few years, but mostly for properties in A neighborhoods. I would be investing in B neighborhoods so I think I will need to rule out appreciation for now?

Thanks,

Young

 Good luck with your TK investment. I would check out:

What to Ask When Working With a Turnkey Provider

and

The Best Types of Markets for Profitable Turnkey Properties

To get you started!