Starting out and I hate my area (Miami Fl) I'll explain why.

[Jason Schimer]

Hi, my name is Jason and BP is the best thing that has happened to me through hard times. I got sick and had to miss work for... 8 weeks now. Found BP about 3 weeks ago and I can't stop reading forums, watching YouTube videos, and analyzing properties. To give you a quick background. I have come into some decent money and I'm feeling like I'm going to pull the trigger in the next month or 2 when I find the right deal. I've overwhelmed my local area and come to terms with Miami is and area that is overpriced and run down. Don't get me wrong, there are deals everywhere but there are many parts that are pretty grimy.I'm afraid to go out further than 50 miles but I am coming to terms with the nature of the the beast. I need to move out of my comfort zone and pull further out. 

Question 1 - Do you guys recommend pulling away from Miami or sticking around?

I've also been hearing that more units the better. I was looking at buying 2 properties (8 unit and 4 unit) in the Gainesville area. 

Question 2 - Should I hit up more units or stick to quad or below?

Last question - I was looking at some properties out of state that were really good but do you guys recommend at least staying in state or if the price is right just get a good property manager and run with it?

Any help you guys can provide I will very much appreciate.

[Benjamin Pekarek]

Greater Miami will ALWAYS have property to buy! The biggest factor will be your risk tolerance. Personally, I buy for cash flow - I don't buy anything smaller than duplexes. With an SFR, you're either 100% occupied, or 100% vacant. There's no wiggle room. Period. With MFs, duplex, tri, or quad, there's a 50/50, 33/33/33, or 25/25/25/25 chance that you can pay your monthly bills. As your rents increase (either from making repairs, or market fluctuations), your value goes up. BUT, you can STILL cover your monthly expenses if you plan it right.

Good luck!