Need advice on next rental

[Devyn Grillo]

Hi guys, I own 2 SFH's both valued around 450k. I have about 50k I can cash out refinance out of both. I want to do something with this cash and need advice on what my next move should be.

I’ve benefited greatly on these 2 houses from the appreciation in just 1-2 years. I want to get into cash flowing rentals but the prices in my area are so high that you just can’t cash flow.

What should I do with the cash I can pull out then? Should I go out of state and buy 5-6 cheap rentals in Georgia or somewhere like that?

That is the most interesting option to me but my only worry is buying cheap older houses built in the 60-70’s that could end up needing a bunch of work that would just wipe out cash flow. 

Does anyone have any recommendations on what to do with cash? Has anyone done out of state investing and can recommend it?

thanks!!