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Updated over 5 years ago on . Most recent reply

User Stats

66
Posts
44
Votes
Kevin Blanchard
  • Rental Property Investor
  • New Jersey
44
Votes |
66
Posts

Advise for overcoming fear

Kevin Blanchard
  • Rental Property Investor
  • New Jersey
Posted

I am a new investor with only 1 SFH under my belt that I purchased last year. I am in process of refinancing it, pulling out some money which will act as the downpayment on the next building. This home is about 10 minutes away from where I live and happened to be a great property. However, it is very hard to find cash flowing properties in this area due to the high taxes among other things.

Due to this, I am considering an out-of-state purchase for my next purchase. Also, I have been thinking about combining the "Stack" method along with the "7 Years to 7 Figure Wealth". The way I would do that is by specifically targeting a 4 unit building.

With all that being said, I am a bit fearful about investing out of state and was hoping that you can share some advise on getting over this fear or pushing through it. Also, I don't know if it is such a good idea to buy a 4 unit out of state property as my 1st out of state property. Perhaps I am better off buying another SFH as my first out of state deal? Any advise would be great!

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