Want to invest in Market with better cash flow

[Account Closed]

Hello, I am a new member and would like to ask a question. 

I currently have an investment property in Brooklyn worth 900k with a 300k loan. Rent is $3100 and after expenses I bring in $300 per month although I do pay down $1350 on my mortgage. I’m thinking of selling and buying equivalent value of properties out of NY to generate more cash flow. I should be able to do this right?  I feel like in a 900k property I’m not generating much cash although I have certainly done well with equity build up the last few years.  Any advice on areas..Or if this makes sense ?

[Michael Gansberg]

Hi @Account Closed - I’d draw a circle from NYC with a radius of 2 hours of travel time and see which areas that includes. It gets you most of Long Island to the east, up to Duchess/Columbia County/Greene County(and a quite few others) to the north, quite a bit of NJ to the west and south, and Philly to the west. I believe the cash flow/yield in many of those areas(maybe all of them) would be better than in NYC.

You can expand your search into the less commutable areas, but if you can stay a little closer to home, there’s value for those occasional property visits you might choose to make.