Investment property opportunity

[Daniel Kirchen]

I live in California and I’m a new real estate investor. I purchased my first investment property about a year ago and am now cash flowing a few hundred per month with hopefully a long term tenant. I am recently sold my hone that I was previously living in and looking for a new home to purchase and live in maybe short term maybe long term.

I have debt that I wanted to pay off before investing in another home. An opportunity cane up with a property with an ocean view and a SFR feel but listed as a condo. It's a corner lot with a yard and the only property with an ocean view for under 800,000. I feel that this will be a great investment being so close to the beach and the value increasing.

Having said that, it is way at the top of our price range. It is a lot further from my work family and friends. I only work 3 days a week but it’s still an added stressor. We can afford it but it will be difficult to pay the other debt off. I really want to jump on this opportunity because we were given the chance to see it and put an offer in before it hits the market.

Do I push myself and grab the opportunity or pass on it. I am trying to get an unbiased opinion because I feel people always seek out advice that supports their feeling on the matter. I am looking for both sides of the argument. Thank you.