Turnkey For A Starting Investor? Why or Why Not

[Elias Wiscovitch]

As I'm researching and starting to figure out how I want to go about in REI, I've come across the idea of turnkey investing, which unless I'm wrong is purchasing a home for rental that's already renovated and ready for cash flow almost immediately.

While I will do more research, I’m wondering what are the main downsides to turnkey and why it may not be the best idea, or if it is a good idea, what would be a good place to start in figuring out what to do

[James Wise]

Originally posted by @Elias Wiscovitch:

As I'm researching and starting to figure out how I want to go about in REI, I've come across the idea of turnkey investing, which unless I'm wrong is purchasing a home for rental that's already renovated and ready for cash flow almost immediately.

While I will do more research, I’m wondering what are the main downsides to turnkey and why it may not be the best idea, or if it is a good idea, what would be a good place to start in figuring out what to do

 It's like dinner. You can make dinner yourself at home. It's gonna be cheaper but you've got to know how to cook & then you need to clean up when you're done. Or if you want you can go out to a restaurant & have someone else do all the work for you. This will be more expensive but you didn't need to cook or clean. Neither is necessarily better, the meal needs to be cooked one way or the other. It's just two different ways to do it based on your budget & amount of time / skill you want to put into it.