I'm a 29 year old American living in California (Silicon Valley) with $500k in cash.Due to religious reasons, I cannot use leverage (i.e. bank loans), so my investments need to be all cash.I need to invest this money in a way that will get me good rental returns.I do think my only options may be to go out of state.I was thinking of potentially buying two condos in not so great neighborhoods in California ($250k each) and renting them out.I was also thinking about going out of state and buying two nice townhouses (maybe somewhere in Arizona, North Carolina, Texas, etc) at $250k each and renting them out.I'm not sure what to do with my money that will get me good returns, while not being able to use leverage.Should I go out of state, or invest somewhere in California where the rental returns won't be so great?

I am in Silicon Valley.

The size of the city is unimportant, flipping a million dollar house in the treasure valley or silicon valley share similarities.

It's been an issue in Silicon Valley since the late-00s: landlords holding out on startups as the rental market heated over; startups frustrated with the multi-year lease while trying to get even the most basic product off-the-ground and uncertain if they'd even be around in a year.

Can give value in various other business areas (currently work in the investment world in Silicon Valley).Ben

I long for this day to happen in the Silicon Valley.

I would suggest looking at SFHs and MFHs in Silicon Valley towns such as San Jose, Fremont, Oakland, Gilroy and perhaps even Mountain View.

There's little pressure forcing people to sell like 2008 (since most have fixed, 30-year mortgages and low rates), but with interest rates now so high, a lot of volatility in the economy (think Silicon Valley Bank and Signature Bank) and inflation still high, it's hard to see how housing prices wouldn't go down some and at absolute best, flat line.

My words of advice are to use tiny nails on the end caps and some silicone underneath where the DW is.

They failed miserable y here cupertino, silicon valley.Going away from medical is contrary thinking.