Creative Financing. Where to start?

[Lucas Moncada]

Hello, I am hoping to get some direction on where to start with creative financing/investing. I am a union electrician and due to how jobs are getting a loan is a bit of an issue. I know some banks will work with my situation and many go through the union. Even so, I would prefer to forgo getting a loan from a bank etc. 

- I have about 50k cash. 

- I currently live with my parents to help out so my expenses/rent are very low. I have no issue staying with them for a while.

- Living in Southern CA, makes it a bit of an issue due to the high cost of homes which is why I was looking at alternative methods. 

- I read Paces' "Wealth Without Cash" and am interested in Pre-Foreclosure opportunities. 

- Whether it be a house hack (currently live with parents so would prefer to rent out if it is viable i.e. it not being a primary residence) or a sub-to. However, I read a recent thread where a member said it was no longer worth it in CA. Is this true?

- I am familiar with the area and can tell the difference between "bad" neighborhoods and have the know how/connections to fix up the home within reason (do not want to go over the 50k).

Any suggestions?

*Would also consider out of state so long as it is closer to the west but, would prefer to buy local first.

Thank you.

[Nicholas L.]

@Lucas Moncada

definitely, 100% house hack.  works in any market.

continuing to learn about creative financing is fine, but i personally think it's at least an intermediate, if not advanced, real estate strategy, for a fairly well capitalized investor.

i have purchased a couple of deals on seller finance, i am just not interested in sub-to.  too many moving parts / too high risk. 

if you're handy, buy something that needs some TLC, live in it for a year or two, fix it up, refinance and repeat.  if you do that 2-3 times you could own 4-9 units in 6-8 years.

you need a place to live anyway.