Turnkey or Do It Yourself?

Question

SO...I'm a newbie investor and by newbie I mean I haven't actually invested in any real estate yet...

I have my Broker's license, have done years of property management and listened to podcasts like it's my job. However, I'm from the San Francisco area and looking at the Cincinnati market and have fears that I will not find a good deal or will not realize that I invested in a bad property/neighborhood. I've seen some great deals from turnkey companies that are investing in the Cincinnati market and they meet the 1 to 2% rule just as well as the properties I've seen on the MLS.

As a first time investor investing in a 4plex, would you recommend I go with a turnkey company or find my own deal?

Chuck Stagliano · Answer

Missy is major player in Cincinnati Real Estate. Well known in the community.

Ben Gammon · Answer

Hey Mason, I plan to move to Cincinnati to pursue my MBA at UC. While there I hope to invest in a 4plex. I'm thinking a B property in a B neighborhood and hope to rent to graduate students though I'm really open to anyone.  I know there is a premium for homes immediately surrounding the UC campus so probably 5 miles or so out. Since I will be living in one of the units, I plan to manage the property myself.

I've spoke with Real Wealth Network and they referred me to Missy McCall-Hammonds with Retire with Real Estate. Have you heard of her?

Mohammad Sheatt · Answer

Which Turnkey companies are you referring to? What kind of returns are they paying ? Depending on the property/neighborhood you are getting you definitely could get better cash flow as a do it yourself even with hiring a PM company. It is more work though

Turnkey or Do It Yourself?

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