Out of state investment for first deal! Good or Bad? 🤔

[Mike Main]

Hey everyone! I’m new to the BP app although I’ve been following podcasts for about a year. I own a few businesses here in NJ and have built up a pretty strong cash flow and am looking to increase my cash flow and take advantage of the real estate tax benefits by investing in rental properties.

The main dilemma: NJ is crazy expensive with little room for cash flow and crazy property tax!

I am considering properties in low tax states like Florida or Carolinas but this is a new endeavor for me. Thoughts???