Turnkey Rental Properties Are DEAD | Do THIS Instead

Turnkey Rental Properties Are DEAD | Do THIS Instead!

RIP Turnkey Rentals HERE is the Brutal Truth

Brace yourselves, aspiring real estate investors! In today's video, I'm pulling back the curtain on the harsh reality of turnkey rental properties – the once-hailed kings of passive income. Spoiler alert: they're dead, and here's why!

Turnkey's Demise: The Unfiltered Truth
I'm exposing the cold hard facts about turnkey rentals – the skyrocketing prices, vanishing cash flow, and why they're no longer the go-to for new investors. It's time to bid farewell to the outdated dream of effortless wealth through turnkey investments.

The Transition You Need: "Diet Turnkey's"
But fear not, because I've got the game-changing advice you've been waiting for! Say goodbye to turnkey nightmares and hello to a revolutionary investment strategy that actually makes sense for newbies. Intrigued? Keep watching for the big reveal!

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#turnkey #brrrrstrategy #realestaterookie

[Jeff__M]

Good advice! You gotta find something for sale first. Ain’t nothing here in St. Louis

[buzztune-ftlc]

Diet turnkey. Definitely interested. Thanks Mike! Great to meet you in person. That Denny’s meetup. Helped me out big time. Can’t thank you guys enough.

[tiffanyagee]

I think I could handle a Turn Key Light, but not full on BRRR. Thanks for suggesting another options.

[ebblesr]

Okay but why?
It wont cashflow. Why?
Rents are insane right now and that could just be because i live in CT but anything with 3 bedrooms and up and isnt crackhouse tier is going to be at least $1100 a month.
Maybe a single apartment but if you have a 2000 or 2500 mortgage payment and the rents are 1000 to 1400 on a quadplex i think youll be fine.

[jarodfranklin]

My PM says a lot of small Multis are being bought with cash right now. That’s the only thing that cash flows in my area right now.

[MenofHighValue]

Excellent take, Mike! makes complete sense

[PRGTX]

I do Build to Rent like we talked in Vegas and get nice base hits $170-250 cash flows. Build at 80-85% of retail and they cash flow.

[Ms.K]

Absolutely, and that’s exactly the reason why I am currently working on my own first rehab🎉

[durtydeedsREI]

This makes me sad as I'm working with a Turnkey provider.

[dropoutandretireearly]

Your right about getting a slightly bad property. You just described about every house ive ever boughten. Buyers run away from those, I run to them and low ball them !!! LOL !!!! But where I used to do it with debt I dont anymore because when you pay cash you really get a steal on the house !!!! LOL !!!!

[AllNighterHeider]

Pragmatism is always welcomed. Thanks Mike

[ryanc]

Are there “diet turnkey” properties in Gary and would that strategy work there?

[rachelembree]

Diet turnkey! Love it and what I need for property #2!

[ClintCobra]

Great video Mike. I want to thank you for taking the time to talk with me at the ORAAT 50k event about my new youtube channel. I also am and have been a long distant rental property investor since 2010. It's been great for me. I appreciate you. Thanks again.

[eelafedits]

Hey Mike, Nice videos!
I am a video editor and thumbnail designer. I was wondering if I could Level up your videos with quality editing and catchy thumbnails to Boost your views! Do let me know what you think.

[dropoutandretireearly]

You can cashflow in any economy and in any market if you save up 100% cash !!!! LOL !!!! Yes it can be done if you dont do stupid stuff like waste gas in a starYUCKS line in your gas guzzler, if your a women if you dont waste money on stupid things like nail jobs on your hands. Drive a cheap car like I have for 20 years. I dont care what people think about my car. Dont buy stupid things like Ray Ban sunglasses and buy dollar Tree glasses. As my Grandpa used to say every little bit helps !!!! LOL !!!! My car for the last 20 years has been a 1992 Geo Metro worth about $500 !!!! LOL !!!!