New and ready to make some moves; stuck in CA.

[Lou F.]

Hello everyone I'm new here and from Southern California (Long Beach area). 

I'll get right to it: I've got some funds sitting in a savings account and I'm looking to get into something more worthwhile. The problem is that 40-45K doesn't go too far in Southern California, unless I'm partnered up or looking to buy undeveloped land. Of course, I'm gravitating towards partnering up and have met some people with interesting proposals but I wanted to reach out to a bigger community for some input. 

I will outline a few of my options that I have considered and am open for any feedback: 

1. Take my money out-of-state. I'm aware that some opportunities may still exist in TN, OH, FL, IN and that there are emerging opportunities in some expanding cities. I'd be interested in multi-family so if anyone has some input, I'd love to hear it.

2. Stay local, partner up, and do a flip/rehab. I've been involved in a few flips doing demo, but not as an investor. I would be open to this but lack partners with funds. With the right partnership, I'd consider HML loans and being an active participant in the process. I like risk, so this appeals to me.

3. Buy myself a "starter-home" in an ok area with an FHA and do a house hack. I would be looking for something sub-400k so the pickings are very slim in So Cal.

Anyone with experience in these areas willing to illustrate/explain the pros and cons? All feedback is greatly appreciated. 

Thank you, 

Lou

[Rod Stanback]

@Lou F. look into University city, francisville, temple university area, Drexel university area, south philly, northern liberties, art museum. I'm missing a couple, but that's a great start.