After reading many BP books, listening to podcasts and watching videos, I finally got my feet wet in real estate after purchasing my first property. A SFH in Tobyhanna PA. The process was stressful but rewarding and now I am more confident in building my portfolio. I was hoping I could get some suggestions on where to go from here. I thought the stacking method would be a good approach but may not be the best fit for the PA Jersey or NY market. I can WFH anywhere in the US so I am willing to travel. I am open to any suggestions on where to look and what to do next as I decide what might be the best fit for me.
Realtor · Hudson County, NJ · Member since 2017 · 176 posts · 110 votes
5y
@Patrick Jaraique You are in a great position! You could think about purchasing/moving to states with no state income tax and have potential for cash flowing and appreciation (plus "good" weather). Texas, Nevada, and Florida to name a few.
I own investments in NJ and 1 in Orlando at the moment. It is always a joy when I fly down to FL especially during the winter!
@Joel Calkins Thanks for the reply. I should also specify my strategy is to buy and hold. I want to know if it is recommended to continue to invest in just SFH's remotely? Would it be more beneficial invest in more units in a specific market? I do a lot of research to see where my next investment should be and have reviewed all the "expert analysis" but I get the feeling I am overthinking it.
Realtor · Hudson County, NJ · Member since 2017 · 176 posts · 110 votes
5y
@Patrick Jaraique You are in a great position! You could think about purchasing/moving to states with no state income tax and have potential for cash flowing and appreciation (plus "good" weather). Texas, Nevada, and Florida to name a few.
I own investments in NJ and 1 in Orlando at the moment. It is always a joy when I fly down to FL especially during the winter!
Realtor · Hudson County, NJ · Member since 2017 · 176 posts · 110 votes
5y
My properties along with my clients are in North, NJ (close to NYC transport). I am in the process of turning a previously single family lot into multi-family home.
I tend to look for fixer upper single family homes or multi-family homes with below market rents.