CA investors? Bay Area? Help with strategy.
Hi there, I am a CA bay area resident with about 60k of capital looking to break into the real estate market. I have read a lot on the forums and listened to a lot of podcasts and am leaning towards investing in multifamily areas in CA outside of the bay area (price is the big reason) hopefully within driving distance.
I am looking at places like Merced and other college towns with a clear growth potential and lower home prices to get my feet wet. However, I also come across other possible avenues such as Sacramento (and areas north of the American River) which yield higher rents and good deals, but a more unstable market for consistent rent and home prices.
I am just fishing for opinions here and ideas...BUT...if you were in my position and had 60k AND lived in the bay area, I'm curious what your strategy would be and why. Thanks.