Expensive coastal real estate
Looking at Properties on the California coast where prices for single-family homes rarely head below 350K and even condos start above 250K...it seems unwise to begin a career in real estate investing here.
Occasionally though, I will see a 1-bedroom condo in Los Angeles or San Fran in the low-100K range or so...or maybe a 2 or 3 bedroom condo for 150K. It seems like a good deal for coastal standards...
Obviously a number of these foreclosures may have their share of "catches" (location, distressed, etc..) and would need due investigation, but all things considered, would you conosider it a reasonable approach to begin a real estate investing career on properties like these if I live on the west coast?
(I would prefer to start local before trying to purchase RE remotely)
Thanks!