Would you buy an overpriced turnkey rental house?
I’m finally planning on making my first jump into real estate investing and I plan on starting with a fix and flip. I know this sub forum is for rental investors/landlords. The reason I’m posting here is because I want some insight from this group of investors.
I know this isn’t a new idea, and there are some big groups already doing this, but I’d like to purchase a home, rehab it, put a renter in it so it cash flows, then sell it all as a turnkey rental to an investor like you.
In the process, I would consider raising the price of the house compared to similar homes for sale in the area because 1. The house is rehabbed, 2. It has a renter in place, 3. The house cash flows
Now, as the title of this post states - Would you buy a turnkey rental house like this that has a renter and cash flows, but is 15-25% higher in price than other houses in the area?
Please comment on why you would or would not.