If you had unlimited funds, and lived in Los Angeles, what would you invest in?

[Cara B.]

Hi there, I am a new real estate investor, living in Los Angeles, with access to the capital needed to build a real estate business. What would you do if you were in my shoes and just starting out?

I am most interested in flipping houses in California (within 4 hours of Los Angeles), because I would rather not deal with the rentals in CA and I am wary of out of state investing for my first investments. But I'm open to other options. I'm also possibly interested in investing in other people's flips in the future, once I have more experience.

I think I would like to eventually invest in higher-end flips ($3-$5M), but I would like to start smaller for my first flip, since I will most likely make some mistakes (buy for under $1.5M). But I'm not entirely sure the best way to find good deals on single family homes at that price point.

Or is there something else you would recommend entirely? Thanks for the advice!