New real estate investor

[Candace McDowell]

Hello BP!

I am new here and interested in investing in real estate. I am 23 years old from Nashville,TN. I've been doing quit a bit of background research and navigating through BP for sometime now. I'm looking to invest in properties in the Knoxville, TN area. Any tips, or information would be greatly appreciated!

[Maureen McCann]

Hi @Candace McDowell, welcome to BP! I applaud you for your interest in investing in your future, YOU GO GIRL! So are you looking at turnkey or BRRR? There are pros and cons for both methods, with BRRR you have the ability to force appreciation and sell quickly, but with turnkey the company does all of the rehabbing and repairs.

For people who work a full-time job and don’t have a lot of time on their hands to rehab and do a full renovation, trading their potential for forced appreciation for convenience is more valuable. The turnkey company does all of the work on their time and dime. The turnkey company has
systems and networks in place to find the best properties and rehab to a high quality and
standard. This also means that you won’t have to worry about vacancy risk during the rehab
process. Investors who choose turnkey are probably looking for passive income or they live in more expensive markets. 

Nevertheless, if you have free time on your hands and are handy, and you know people and have a good network of people you can contract to do any extra work you don't know how to do, BRRR is a good option.

This all depends on your goals and what you would like from your investment. Before you decide on turnkey or BRRR or any other REI methods, have a discussion with yourself (and/or your partner) about what your objectives are in REI.

Best wishes!! :)