What does relocation mean to your portfolio?

[Miguel Pelegri]

Hi guys, I'm currently living in Cincinnati, OH, and have a single family home which I rent out. I want to continue building my portfolio, but I also want to relocate back to Miami Fl, where I'm from, within the next 2 years. I fear that if I grow my portfolio too large here I will not be able to manage it remotely and would have to sell off prematurely, causing me to potentially lose money. On the other hand, aside from not wanting to delay my wealth building for 2 years, the entry price point for the Cincinnati market is much lower than in Miami, so I really want to take advantage of that while I'm here. What do you guys think? Do any of you successfully manage multiple properties remotely from another state? Thanks! Miguel

[Kevin French]

Or even better, it may be an option to set up your own property management company. You would just need someone to run it for you. And, you could potentially pick up other properties to manage that aren't yours, increasing your income.