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???

[Ali Boone]

I'm in LA, so same pricing problem here, and I've mostly gone out-of-state because of it. There's a million threads on here that talk about the pros and cons. But for general things to consider:
https://www.biggerpockets.com/...
https://www.biggerpockets.com/...
On that second one, I've always gone the turnkey route.
Hope those help!