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Updated about 3 years ago on . Most recent reply

Account Closed
  • Paterson, NJ
18
Votes |
119
Posts

Should i invest in a out of state rental and primary with funds?

Account Closed
  • Paterson, NJ
Posted

hello, 

i have 170k for RE, i am located in North jersey looking for a primary 2 family 100k for down payment, closing cost etc.

the 70k left over i want to use in a out of state rental single or duplex aiming for 8% cocr. 

im not sure if i am being unrealistic in this market but would love advice. 

the states/cities i am looking at now is

1. dallas TX

2. Philly PA

3. Tampa/orlando FL

4. Tennessee

i am not sure which one i should invest in and if i should wait till i get a primary home or do both in a year. 

im living with family now so no rent. 

Most Popular Reply

Account Closed
  • Paterson, NJ
18
Votes |
119
Posts
Account Closed
  • Paterson, NJ
Replied

@Rich O'Neill i cant think of a BRRR method until i own a primary because the BRRR might affect my numbers for a personal primary loan and much more risk/funds.

i want a turn key and happy with anything over 8% after all cost including 5% repairs 5% capex 10% pm 8% vacancy 

i will keep looking at the other better markets where growth is happening but PA is def something im into seeing how it is very close by towards me. 

ill hit u up if anything

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