Where to invest?

[Rafael Ramos]

Hello everyone,

I'm new to real estate investing, but thanks to my logistics business, I have a substantial amount of capital to start with. I'm currently looking for a multifamily property, ideally with 10+ units and a cap rate of 7% or higher. However, finding this in Florida has been quite challenging. As a beginner, I'm hesitant to invest out of state, especially since I don’t have anyone to assist with tenant issues when they come up. I also prefer not to use a management company, as I don't want them cutting into my profits.

My long-term goal is to generate enough income to live comfortably and eventually build a real estate empire. I'd appreciate any advice on whether I should stick close to home in Florida or consider expanding to out-of-state markets.

Thanks in advance for your insights!