New investor all advice welcome and appreciated!

[Andrew Hankinson]

Hello Fellow Investors,

I hope this post finds you all well and thriving in your real estate ventures. I'm reaching out to the community for some guidance and insights as I navigate through my own journey in the real estate market. I started my real estate investment journey just four months ago I am 22 years old and I'm eager to hear your thoughts on how I'm doing so far.

To provide a bit of context, I've acquired a duplex for $96,000, generating a monthly income of $1,650. Additionally, I've invested in a trailer park with a purchase price of $200,000, bringing in a monthly revenue of $4,650. Taking into account my monthly mortgages, which total around $2,300, I'm in a solid cash flow position.

Now, as I look to the future, I am keen on expanding my real estate portfolio further and streamlining my growth. I believe there's room for more opportunities, and I'm interested in hearing from experienced investors about the steps I should consider taking to reach my goals.

Specifically, I'd appreciate insights on the following:

1. 1. What strategies have worked best for you when expanding your real estate portfolio?
2. 2. How can I effectively manage multiple properties to ensure continued growth?
3. 3. Are there specific types of properties or markets that you recommend exploring for expansion?
4. 4. Any advice on financing options or leveraging equity for future acquisitions?

I value the experiences and knowledge of this community, and I'm open to any suggestions, lessons learned, or even pitfalls to avoid. Your insights will be invaluable as I continue to build my real estate empire.

[Min Zhang]

Hey Andrew, congrats on your awesome start! You're already nailing it with your current properties and cash flow.

Expanding your real estate portfolio is an exciting journey, and it sounds like you're on the right track. One effective strategy is to explore markets with great potential for growth, like Ohio. 
When expanding your portfolio through out-of-state (OOS) investing, thoroughly research potential markets, focusing on areas with strong job growth, population influx, and diverse industries to ensure long-term stability. Additionally, consider building a local network of real estate professionals and property management teams to help you navigate the unique challenges of investing in unfamiliar territories and maximize your chances of success. Columbus, in particular, has been thriving due to tech giants moving in, which has increased property values and job opportunities. I also invest in Cleveland and Dayton, so those cities might be worth considering too. Let me know how can I help!