I an a real estate specialist on the Southern CA coast from Long Beach to San Clemente. There are reputable investment groups here looking for good values in property. They usually concentrate on a particular type of investment. They have different minimum requirements for the investor in terms of money to invest and net worth. Rule one: Do not endanger your core retirement income when you are retired! If someone pushes you in that direction, stop! It does sound as though you are at that level.
There are many, many properties here selling at 20% to 30% less than two years ago in one of the most desirable areas in the United States and Europe. Opportunity exists. However,it is imperative to discuss your goals and risk capacity with a highly qualified financial advisor, accountant, realtor and a qualified group. You may have already consullted your financial advisers. It is best to have at least a five year window. Be extremely cautious of "get rich quick" schemes. For example, there are suddenly many foreclosure "specialists" (and I know some good ones), but those properties come without warranties, take months to negotiate and can be a nightmare for absentee or inexperienced investors. For example, properties which have been vacant for many months usually deteriorate and require extensive work. We anticipate a greater flood of REO owned properties in the coming months. At any rate, there are many,many variables. Commercial properties may work best. Reply to me in complete confidence and we can match you with the appropriate group. There is no charge. With careful planning, there is money to be made since these are the best opportunities in years.
Gigi