Can I retire in 30 years from “turnkey” properties?

6 Replies

Hello! My name is Chris and I’m brand new to bigger pockets and investing in general. I’ll lay out my situation, goal and how I think I’d like to achieve that goal. I’m looking for feedback on that plan! 

I’m 28 years old, live in Phoenix and I create videos for a living. I enjoy my career and all have lot a of freelance gigs on the side. This doesn’t leave me with much free time. I would love to be able to retire at age 50 or 55 and I think investing in real estate could be the way to get there. 

I’ve only started reading material on this site and I’m reading some books now but here is my plan so far. 

I’d like to buy “turn key” properties as fast as my savings allows. I understand that they can still require some work but I imagine it’s much less than other ways of acquiring rental properties. I’d like to balance my 9-5, freelance and free time. I understand my potential for cash flow could be lower but I think I’m willing to pay that for free time. 

I will also purchase a single family home for myself to live in as my primary residence. I think I’ll then try to buy another primary residence every 2-4 years and rent out my home instead of selling it. So I think I’ll have maybe 4 or 5 single family homes in 30 years and maybe 10 “turn key” properties. 

Would love to know anyone’s 100% honest feedback on the plan. How can I make it better? What to be wary of, etc..

I’m going to continue to educate myself by reading a lot more and getting my real estate license to understand the industry better. 

Thanks - Chris





Hey @Christopher Price ! Buying turnkey, although not the fastest wealth builder, is definitely a great strategy as long as you verify the numbers and pick a great area to invest in.

Make sure when you go to rent out your primary home, that itll cash flow after all expenses budgeted for!

This whole strategy, althought a long term play, will work out for you! Just let the extra cashflow generated, accumulate and pay for each successive property.

I think over time, your plan will evolve and youll hit your goal faster than you ever thought!

If you are planning on living in them for a few years, don't be afraid to buy something that needs a little bit of work-some painting, minor stuff.  Also when you buy it, remember to run the numbers as if you were renting it out.  You could also think about duplexes.  They would allow you to live in half and rent the other half out while you are there, decreasing your costs.

Thanks for the advice! I’ll be sure to run the number even for my primary residence. I’ve actually thought about a duplex before. That seems like a good way to jump right into rental properties. Thanks again Theresa!

Originally posted by @Christopher Price :

Hello! My name is Chris and I’m brand new to bigger pockets and investing in general. I’ll lay out my situation, goal and how I think I’d like to achieve that goal. I’m looking for feedback on that plan! 

I’m 28 years old, live in Phoenix and I create videos for a living. I enjoy my career and all have lot a of freelance gigs on the side. This doesn’t leave me with much free time. I would love to be able to retire at age 50 or 55 and I think investing in real estate could be the way to get there. 

I’ve only started reading material on this site and I’m reading some books now but here is my plan so far. 

I’d like to buy “turn key” properties as fast as my savings allows. I understand that they can still require some work but I imagine it’s much less than other ways of acquiring rental properties. I’d like to balance my 9-5, freelance and free time. I understand my potential for cash flow could be lower but I think I’m willing to pay that for free time. 

I will also purchase a single family home for myself to live in as my primary residence. I think I’ll then try to buy another primary residence every 2-4 years and rent out my home instead of selling it. So I think I’ll have maybe 4 or 5 single family homes in 30 years and maybe 10 “turn key” properties. 

Would love to know anyone’s 100% honest feedback on the plan. How can I make it better? What to be wary of, etc..

I’m going to continue to educate myself by reading a lot more and getting my real estate license to understand the industry better. 

Thanks - Chris





 Best long term business out there man. You buy a property using 75% of somebody else's money for 30 years (bank). Then you have somebody else pay off your loan (tenant). This is why real estate makes more millionaires then any other industry in the USA.

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