Looking to invest out of my market to get more doors.

[Dominik Makaneole]

Aloha all,  In the last 9 years I've been moving into duplex's on Kauai fixing them up moving out and renting them.  It's been a grind,  At first I didn't really search for great deals.  Instead I would find a homes I wanted to live in that also had an attached home I could rent to "help" with the mortgage.  My last duplex I got into 2 years ago was purely an investment I didn't move into.  I looked at it purely for cash flow.  It opened my eyes to what was possible even in a high priced market.  I learned how to use contractors and what banks look at in order to get funding.  This last 9 years I've learned how to be a landlord and the laws that govern them in the my state.

My current situation is as follows: I currently have a job that pays $100K a year. I have 6 months saved up to pay all my bills.  I don't have any car loans or credit card debt.  My credit score fluctuates around 770.  I just bought a new home not as a investment, but it will more than likely appreciate. It has $200K equity into it. Truthfully I needed a break from living in homes that needed serious work while fixing them on my few days off.   My wife probably would divorce me if we did another one.    Currently all my rental units have positive cash flow of $3500 a month.  

Where I want to go in the future. I want to get get more deals and quicker. I've been looking out of state. I've been looking at vacation rentals in my area.  There are some properties I've analyzed that have good cash flow but is solely dependent on tourism and there are many many circumstances that can disrupt that which would leave me  with a high mortgage.  The out of state markets look more of a risk reward I can handle.

I've been looking for homes that are $100K-$300K which is a price range that I can handle if the reward is good. $300 Cash flow a month preferably more. I would be happy with 10% cash on cash ROI however cash flow is more important to me. I prefer a property that doesn't need major rehab because I will be working with a team I have never worked with before. I've been googling "best rental investments 2019" and other type of generic terms. I have a plan to do at least 3 property analysis in new markets. Over time I expect to see a few markets stand out more than others. When this happens I will look to partner with investors to get my feet wet.

I would like to hear from members whom were/are in a similar place as I am today and any advise you can send my way will be greatly appreciated.  I am also fairly familiar with rental properties on Kauai if anyone is interested in a high priced market with a huge rental shortage for the working class and will not be going a way anytime soon.

If any members are interested in visiting Kauai, I can try my best to give you advise however I don't get out much.  I work too much.  I have lived on Kauai for 30 years so I might be able to answer a few questions. lol.  I'm thrilled I stumbled onto Bigger Pockets and have been watching podcast that are pure gold.  Continuing to learn continuing to earn.