Picking a RE Investing Strategy from the very beginning (CA)

[Kevin Thomas]

Hey BiggerPockets community!

My girlfriend and I are looking to purchase our first property together. We know that turning a profit in California is near impossible, but we want to live in California AND we want to be strategic with our first home by thinking of it as an investment strategy.

I was told that a duplex would be the best way to go. But, I’m not sure what cities to be looking in. We qualify for up to $875,000. We are currently looking in Elk Grove but I would prefer to be in SoCal if possible. Even if that means moving to somewhere further inland like Rancho Cucamonga/Fontana/Riverside.

But, I’m completely stuck. I don’t know how to determine which market would be the smartest move. And I’m struggling to see what options going with this strategy would provide us in the future.

I'd love to connect with anyone who is investing in California and focusing on MFU and even SFH. At this point, I'm wondering if buying a fixer upper SFH and treating it as a "long term" flip (1-2 years, would be the best option. Open to learning.

For more context, we'd be using an FHAloan and putting down 3.5%.

Cheers,

Kevin