From Malibu to Florida - First time investors- What do we do?

[Mitchell P.]

Any advice is appreciated. First post.

Family with 3 young kids.

Have a home in Malibu, CA.

We Rented it for $15k a month.

Our Payments around $9k

Could sell and pocket around $1m to reinvest 1031.

—-But can’t imagine we’d get much better monthly cash flow? Unless we buy a few buildings in a new market (preferably south Florida because that’s where we are for now). But I’d appreciate opinions? Do we hold the house or re-invest?

Second question.

We are in South Florida and have about $200k for a down payment on an investment property.

-Do we go safe with a $600k+ SFH and rent it?

-Do we try to get a small apt building?

- Do we buy a few cheaper homes to rent?

I know this is all predicated on your situation. But we appreciate any and all advice.

I’m reading all the books suggested here.

Thanks.