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Updated over 5 years ago, 08/14/2019
To invest out of state single or muti family with 70k cash
Hello everyone.
I have around 70k cash, im located in North jersey where property taxes doesnt help for cash flow. I gave up NJ and now looking at other markets. I havent found anything in Philadelphia where things are cheaper.
My questions are. Should i invest out of state putting down 20% on a duplex ? Cash flow goals 300 to 400 after 5% capex 5% repairs 5% vacancy.
Or should i put 20% down on a duplex in Philadelphia where with 20% down after living in the place ( house hack 1 yr) cash flow 300 to 400? I want to make at least 8% cocr
I have no debt 789 credit score and ready to go. Philadelphia is close by me 2 hr drive but if i cant find anything maybe investing out of state is worth it. If i can cash flow that 300 to 400 with a duplex. Would this be a smart move or should i put that 20% down on a duplex to house hack instead of doing the rental?
Really need your help, also any recommendations for which areas would be idea for this