New in San Diego, Any Insight Appreciated

[Jennifer Sarmiento]

Hello! My name is Jen. I learned about real estate investing just this year when we lived in Hawaii. We moved to San Diego over the summer because my husband retired from the Air Force & we have family in the area. I just have two basic questions, if anyone here may be so kind as to shed some light, I would appreciate any & all of your insight very much.

1) I am NEW to this, but understand that REI strategies may work or not work well in different markets and at different times. I was fascinated and eager to get into fix&flipping, but was advised not to do so in San Diego in 2020. That it was lucrative two years ago, not now. Also, I was advised wholesaling not so great here either. That buy&hold, Air B&B, cohousing and ADU's are among the top ways to invest in this market at this time. Would you agree or disagree? And, with my being brand new to this, should I consider starting my endeavors out of state instead? Where properties are not $600K, like in Arizona or Las Vegas? Should I get into virtual wholesaling? Should I invest in a turn-key rental in Indianapolis?

2) As I mentioned, my husband just retired from the military so we have our VA Loan benefit to use toward buying our first home. Before we learned about real estate investing, it was going to be an easy, straightforward process for us: find a house, get the loan, move in. But now that we are aware of real estate being a vessel to building wealth and time freedom for the family, I'm trying to figure out the best strategy in San Diego, if there is one to consider. I don't see or hear of many duplexes, where we could live in one and rent out the other. Should we try to find an off-market property and flip it while we live in it? Any suggestions or thoughts on my thoughts? Thank you in advance for your time and help!!

Also, when we first moved here, I met some local investors. Unfortunately, I could not afford the education they were offering. So I’m happy to start studying up all the resources in Bigger Pockets, and connecting with others out here more often. I’m going to make it happen in 2020, to survive living in California haha. Thanks for reading! 

[Aaron K.]

It is a good thing you weren't able to afford the "education" as it was likely a ripoff. Being brand new to this flipping is probably a bit risky, and wholesaling is harder than you think it is, buy and hold is tried and true, and while returns will be lower in San Diego, if you can house hack with a VA loan you should do okay.