Cash Flow Guys Podcast

During this week’s episode I answer questions sent in by Lashonne from NYC.  She asked:   Hi Tyler, “I love listening to your podcast while I’m at work. I’m a newbie looking for advice on my first deal. I know that I want it to be a multi family and due to my location (NYC) it would have to be out of state for economic reasons. So, I’m currently looking into NJ. I know it has some of the nations highest taxes, but cash on cash return outweighs that concern.” My Response: I partially disagree, I believe that if your focus is on discovery of problems and solving of problems that opportunity can be found in any market or market cycle.   She went on to add: “Here is where I need your expertise. I see so many investors purchasing NJ duplexes/triplexes for about $250k +, putting about $50-75k (or more if it’s a complete gut) into it, then renting out each unit for about $1500. Refinance and repeat (BRRR). Is it wise to have 5 or more homes with such high mortgages? They told me that their end game is not to hold on