hi, my names is Malik. I'm 18 and I recent inherited a substantial amount of money. my goal is to invest this money into 2 or 3 rental properties to secure a passive income of at least two thousand dollars a month. I hope to make up what I lack in experience by learning from those who have had success in real estate investing, and also from those who have failed.
here's my question: I've heard a lot of people say that you should invest close to home, but the market that I'm in(san diego) offers little return on investment, with cap rates as low as 4% according to my calculations. where as in places like Rochester new York I've seen cap rates as high as 18%. I would also be able to get more properties there because the market is so low. So whats your opinion? stay close to home or venture out for a better market?
