Would like advice re: where to invest near NYC (or elsewhere)

[Karl Kauper]

Hi - I own a house in Brooklyn, NY, and will shortly be refinancing to pull out about $200k to invest in other properties. I am leaning toward multi-families because I have experience with this type of property but would consider other types of property.  I would probably prefer to remain near NYC, but would consider out-of-state also or even overseas.  I am fairly new to this (although I have owned my Brooklyn 2-family for twenty years), so I would appreciate any advice regarding where I can find the best deals.  Most (maybe all) of Brooklyn and NYC generally is probably out of my price range. I am considering the Philly and Jersey City areas (and DC or Chicago if the deal makes the distance worth it). An acquaintance recently bought a condo in Berlin, Germany with a 1.3% mortgage interest rate (to my amazement), so that's also appealing, although the city just approved a 5-year rent freeze.  I'm obviously having difficulties focusing, so any advice would be appreciated. Thanks!!