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Updated 4 months ago, 09/05/2024

User Stats

67
Posts
22
Votes
Adam Pervez
22
Votes |
67
Posts

Seeking Advice on expanding my Real Estate Portfolio

Adam Pervez
Posted

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...

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