Buying turnkey properties only
I want to hear from investors who only purchase turnkey/out of state properties. Id love to hear your success/failure stories. I love the idea and concept of out of state, turnkey, but I feel that the low cash flow doesnt justify the risk.
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In my early days I had 6 turnkey rentals in 5 other states. In the long run they did fine. You are worried about risk, but I would argue that a turnkey rental that has been rehabbed correctly and has decent cash flow is much less risky than the stock market, mutual funds, or precious metals. In the short run, some went up, some went down. In the long run all of them made me good money.
Even though they were not the most amazing investments, they were my entry into rental real estate. Now we regularly do much better deals. We just closed the sale of an apartment complex and made a 35% annualized return for our investors. Even that was not close to the best deal we been in.