Seeking Advice on expanding my Real Estate Portfolio

[Adam Pervez]

Hi BP Community, 

I am writing this post because I feel like I have been stuck in expanding my current portfolio. I am 27 years old and earn around 150-160k in gross income from my W2 which is remote. I have a duplex in Lehigh Valley Pennsylvania which currently cash flows 800-900 a month. I work a side job for a friend and make 3-4k gross income. I am based in NJ but I feel nothing will cash flow or be too sustainable unless I put in a higher downpayment.

I am looking to do only long term rentals and keep it with Multi-family units in the beginning and then advance to appreciation type properties in developing areas.

I was thinking if I should save up more money for a larger down payment or possibly look at a different area to invest since I am NJ and the high property taxes make this hard unless more capital is put down. I am fine for long term growth and don't mind working for the next 20-30 years to build a sustainable portfolio with no mortages on them as the end game plan.

What would you do? Happy to clarify any more information on this since I know this is very open ended...

[Jonathan Greene]

You have some terrible advice here, literally awful. LIving in New Jersey, your proximity to Lehigh Valley and your first investment is perfect. You get lower taxes in PA, there is appreciation in that market, and you can drive there if you need to. Do not go and invest out of state because people come into the forum and try to convince you to work with them on these goals (so ridiculous), you aren't ready for that and you have a good foundation somewhat locally.

Your best bet, if you can't move, is to keep investing outside of New Jersey and stay close to your current property. If you can cluster another one in the area, you will reduce your management costs and keep your travel the same. Best bet would be if you could move to Lehigh Valley and house hack there.