In need of some directions

[Troy Palmer]

Hello everyone, my name is Troy. I will be 33 yrs old in September. In May 2022 i finally got my wife and young kids out of a Brooklyn apartment and now into our first house in NorthEast Philadelphia. The house was bought in my name through FHA and my goal is to buy another property after one year or so.(Still working on getting my wife to see the vision)

I am also planning on utilizing my wife’s credit to help us scale and I’m currently obligating my self on purchasing another property before this year is over. I am open to invest in Philadelphia but i am leaning on investing long distance into land lord friendly states. I am very open gaining as much knowledge as possible so I can “TAKE ACTION”!

What are you thoughts? 

Thank you.

[Andrew Freed]

@Troy Palmer - Try to have your wife get on board. Have her read "Rich Dad Poor Dad." Listen to podcasts with her in the car. Set up a money date. It's going to be hard to utilize your wife's resources and expect her to move year after year without her seeing the vision. 

Also, I personally see value in investing locally (within 45 min away) first and gaining a decent size portfolio before going long distance. How are you going to know how to manage a property manager if you haven't done property management yourself? You kind of need to know what goes into managing a portfolio prior to managing someone else who is doing it. Just my two cents.