How low is too low for REI in Southern California?

[Andy M.]

I'm looking to get into REI with some family and close friends. If it's possible, I'd like to consider investing.

Assuming I don't have enough money to start as investor, how else can I tap this market and find profitable opportunities? 

[Cornelius Charles]

@Andy M. 

Hey Andy. You can "drive for dollars" to find vacant homes in your market. If you do, you can then try to locate the owner to see what their plans are for the home and if it would help them out if you were to buy it from them. If you can get the property under contract at a great price, you could then either wholesale it or set up a JV arrangement with another investor.

Also, you can start attending your local Real Estate Investors Association (REIA) meeting and network with other investors. The head of my favorite REIA group likes to describe investing as a 3-legged stool, with the 3 legs being time, money, and experience. If you have time, but no money or experience, you can locate other investors that have money and experience, but no time. If you offer to help them with whatever they are not able to accomplish due to lack of time, they could be willing to let you be a part of their team in some capacity.