Advice for reinvesting gain in equity
Hello! My name is John, I’m a new investor hoping to get some advice. I started investing in 2020 and have seen tremendous appreciation like so many other investors who started out around the same time. I have two rental properties, and combined I have about $400K in equity in them. Property taxes in austin area eats away at so much of the profits, and I am planning on 1031 exchanging both properties to buy somewhere else (still undecided and researching markets)
My question is, would you look in to multi family in order to scale and start to building cash flow through owning more units or focus on short/medium term rentals? I am overthinking this quite a bit I have never been in a position to be able to reinvest a large sum of money and am terrified of making the wrong decision.
Hoping to get a better perspective on the considerations of either route.
Thank you.