Feeling hindered by local market

[Jason Shuda]

My wife and I are early in our RE investing journey, bought an old Triplex in 2019 which we sold to build a new duplex in 2022. We are in a niche Midwest market where local prices are inflated and looking to get into other markets, likely out of state. 

I have a good W2 job and am saving for the next purchase. We also have about 300k equity in the duplex with a 3.75% rate on the remaining mortgage.

I’m finishing David Greene’s book on Long-Distance RE Investing but am finding myself in need of encouragement/tips before I dive in. I have spoken to local agents in other markets, but the prospect of creating (and trusting) an entire team of distant sub-contractors seems onerous. Syndications seem like the easy way out, but I’m looking to build a lasting portfolio to help build generational wealth for our 6 kids and want to own the appreciation. 

In need of encouragement and guidance. Thanks everyone!

[Bill B.]

You forgot to put your location in your profile or your post. Doing so will help others in your area suggest where they went instead or how they managed to invest in that area in today’s market. It will also lead to suggestions of teritiary markets to research.