Where to move and invest if you live in an expensive area?

[Matthew Odou]

Hello everyone,

    I feel that I’m ready to invest in my first house hacking rental property (2-4 units); I have the $ for a down payment, closing costs, and am going to be using the 203k loan for rehab. I have the knowledge after reading numerous books and listening to many podcasts. My criteria in terms of price range is $100k-$300k.
         

           The only thing holding me back is that I currently live in Southern California where real estate prices are way too expensive for me to start, and I’m going to be moving out of my parents house into the area where I’m going to invest and taking that huge leap of faith is a bit scary to me. I’m basically going to be starting a new life with a new job in this new area I’m going to be investing in, so I want to make sure that I’m moving in an area that I know is growing, has potential opportunity for appreciation, and is affordable for someone like myself. How do I figure out and analyze where the best place is to start investing? Any tips for a newbie?         

          Thank you very much in advance for your guys’ advice. It is greatly appreciated! :)