Second Duplex Out of State or Vacation Rental

[Jon Hill]

Hey everyone. My fiance and I are looking into adding another property to the portfolio and have gone back an forth on either another duplex out of state (we currently own one in Milwaukee that cash flows us $200 a month) or a vacation rental in a mountain town here in Colorado. I am leaning towards the second duplex as we have a decent understanding of this works and what it requires of us. She likes the vacation rental idea because of the potential cash flow increase we could have. Side note: we have agreed that once we hit a certain number on cash flow she can step down from her current job and go back to school for what she wants to do. I think that is part of the reason she is leaning towards the vacation rental, which I can very much understand. Love to hear everyone's thoughts? I don't have a ton of experience or have read a lot about the vacation rentals as compared to her, but I also deal with most of the work on our two current properties.

[Jon Hill]

@Ralph Justiz I agree with your mentor. I think continuing to improve on upon what we already have in place will allow us to get to our goals faster as opposed to continually changing. I would ask both you and your mentor when is that time to then pivot? Brandon Turner always mentions getting the skills down and then expanding once you have learned that niche.