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I’m late into RE investing but with high net worth and income. Seeking advice from successful RE investors

So a little background first. I’m 39 yo, first generation immigrant came from Asia. Been in US for 10 years. I own around $4m RE in my home country with all mortgage paid off. I own a house in SoCal which I bought in 2015 for ~800k with 450k mortgage remaining. Now this worth $1.4m. Then I moved to Dallas but I did it sell the house in SoCal instead I rent it at 3.5k/mo due to a tenant since 2018. I bought a house in Dallas for ~$470k which worths $800k now. This one got around $300k mortgage remaining. I got both refinanced with no cash out during the pandemic.

My main job is a software engineer at one of FAANG which nets me usually $300k but $400k in 2021. My wife also works for a salary of around $130k. We have one kid.

I have around $400k in cash, $600k in stock/rsu/401k. So my total net worth is at around a bit less than $7m.

You see my problem now, first I have $400k cash stay in bank account which I feel nervous about. Secondly I only buy house when I need to live in, but I never sold any of them , either in SoCal or my home country.

This habit makes me feel pretty regretful after seeing recent skyrocketed house price, which I should really haven taken advantage of. However now I do feel nervous about buying one in city like Austin(again becoz I probably move them in a few years) since the price is already like doubled in the last year.

So should I buy in some mild cities first? Or is it really going to crash like some YTer said ( I watched tons of videos recently , and the more I watch, the more nervous I tend to be. On the other side I also FOMO). Should I sell the SoCal house and buy some cheaper ones in cheaper cities? Is it realistic buying rental properties in cities that I don’t live in? Should I move my oversea money to the US and buy US houses instead ? How do you guys start your RE investment journey at the beginning ? Also from a heated market ?

Thank you so much in advance!

submitted by /u/Logical-Product-2079
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source https://www.reddit.com/r/RealEstate/comments/ts1oca/im_late_into_re_investing_but_with_high_net_worth/
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