New investor - need advice

[Elizabeth Harvey]

Hi Bigger Pockets fam,

My name is Liz and I am a new investor to the real estate game and need some advice. I’m based in Southern CA and would feel much more comfortable in buying something in my own backyard: LA/OC/IE. I prequalify for up to $470K conventional with 10% down, have good credit and I have $89K in cash, but need to set aside some for my basis (reno and  down payment) and cash reserves for maintenance and at least $30K for personal savings. I’m thinking about house hacking but I know the on market is volatile right now and is competitive among traditional buyers. I’m also hearing from folks that I should find an off market deal.

Any insight on next steps would be super useful and I would be forever grateful and will pay it forward - thank you!

Liz