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Updated about 3 years ago on . Most recent reply
Should i invest in a out of state rental and primary with funds?
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
@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