Keep in mind, this is in California ( Santa Cruz County ): I'm a Self-employed General Contractor, have good credit, and money saved up. In my mind, the best scenario for me would be to buy a fixer, the worse condition the better, for a deep discount, live in while fixing up and rent a room or 2 out at the same time, if is feasible. Ideally have an ADU separate from house as a rental while fixing up main house. The prices near me scare the hell out me, and looking at areas about a 3 hour drive inland , Somewhere I can be a cash buyer, in the hopes of finding a motivated seller who is willing to sell on a discount in exchange for a hassle free, quick closing. If bought 3 hours away, then I would give up being a primary residence, and the tax benefits that go along with that while selling after 2 of 5 previous years..
I'm too scared to try out of state investing as I failed on my last attempt(made some rookie mistakes and learned a ton).
But then I hear other option like funding someone else's deal or partnering on a deal, which outside my comfort zone as well but always willing to learn. I'm hungry for knowledge and experience and looking to join forces. Thanks for reading ,Would love to hear any advice offered.
