Choosing a niche or putting eggs in different baskets
Hello everyone,
I moved to south florida from Europe about 7 months ago. I had some cash and invested in a shopping center with a cap rate 7.50 plus minus. I run the plaza myself and i really enjoy doing it. Like we all do, i would like to expand my portfolio. Reading hours of articles and forums i really cant decide or forecast should i invest in another strip mall that fits my budget with a good turnover or due to online shopping it would be too much risk to end up with several strip malls in 10 years.
I ve talked to several brokers about multi family houses and in the area the cap rates looks very low due to high demand. Personally it scares me to buy an asset that i cant drive to check the property regularly so it holds me back to look sth out of state.
1) What do you guys think investing in more strip malls ?
2) Should i not worry about investing a property in other state (eventually you set up a system somehow) ?
Thank you in advance