Buying property in Orange County, CA

[Brittany Smith]

Hi

I just moved to California to be closer to my mom. I have a full time job and so does my mom. We decided that it is time to buy property together. We are going to buy a townhome possibly in the Orange County area because we can not afford a single family home. Moving from Georgia to California is a huge difference in real estate pricing.

We already have an agent and lenders. I have the 5% down payment and closing cost ready. It will be my first investment and I rather invest in a home with someone I trust.

PS: we will be living in it but eventually want to take the equity and put it in another place to rent.

Is buying a second property in California a good idea for a new investor or should I take the equity and put it in Texas or Nevada?

Is buying a townhome or condo a good idea in Orange County or should we wait to get a single family home?

I’m sorry if I’m all over the place but I’m still learning.