Buying my second property right

[Francis Jimenez]

I live in ny and I’m refinancing my house in order to continue investing. I’m thinking to invest out of nyc cause is too expensive. I’m going to receive 100g should I buy in cash or finance my next purchase? And any recommendations of location too. I’m 27 years old with a good job with no kids so I don’t have no fear of going out of the state to obtain cash flow. Also How Can I manage a property out of the state?

[Brian Adzadi]

Hey Francis,

I would personally leverage (finance) my properties. Buy 3 single families or 2 Multi-families, use $30K-$40K to cover down payment and closing cost for each house. I would personally avoid New Jersey because of the high property taxes. Pennsylvania, Ohio and Indiana would be my go to states for investing. Pennsylvania would give you best of both worlds where you can either actively or passively manage the property because its still close enough to NY where you can drive there to check on your property. Ohio and Indiana means you automatically have to get a property management team to be taking care of the property for you.