Newbie here, dual purpose real estate - investment/second home?

[Serge Serge]

Hello dear forum users,

I just came across biggerpockets and would like to see your opinion on the subject.

I am California based (San Francisco Bay area) and can't buy here (more than I already have) since the prices are over the head.

In the meantime I am looking to get some dual purpose real estate on the East Coast - to rent it out for covering expenses and to live in for a couple weeks a year.

Looking for the areas near ocean/beaches with good weather, so possible FL, NC or TX.

Budget caps for $240K with conventional loan for 15years.

I am now at the very beginning of looking around and I see the prices start falling so I can wait until the exact moment.

I greatly appreciate all your expert suggestions!

Thanks in advance!

[Nathan Gesner]

Welcome to the BiggerPockets forums!

Look at South Carolina, Myrtle Beack or Hilton's Head. The Florida coast is also attractive around Destin, Pensacola, Tampa, Jacksonville, and many other areas. Just depends on what you're looking for.

Prices are crazy in California, but they're crazy in other states, as well. Property in Florida or South Carolina is selling for double what it was five years ago, so don't expect many amazing deals.