Real Estate Agent · Los Angeles, CA · Member since 2020 · 2 posts · 0 votes
Hi Bigger Pockets!
I'm a real estate agent living in Los Angeles, and I'm looking to get into the investment game myself. I'll most likely begin with a short term rental property or a multi-unit and house hack. I'm looking forward to connecting with like minded people.
Real Estate Agent · Los Angeles, United States · Member since 2021 · 392 posts · 162 votes
2y
Hey @Mike Mizwicki! Fellow team leader agent here in LA! Really excited to hear about you looking to start the journey of REI. I've invested all over, but have found some really great niches out of state. If you ever want to connect, I'd be happy to talk about my personal journey in real estate investing - but in the meantime I'll share my personal tips.
#1 Since you're an agent out here, house hacking could work out nicely if you can find the right deal. Right out the gate, you could theoretically apply your commissions towards the down payment or towards rehabbing a property to rent it out for top dollar.
#2 If you find that STR's are your passion, I recommend really studying up on CA laws and regulations on these. CC&R's locally are making it harder and harder, especially in LA County. No impossible at all, but I find that a lot of investors I work with locally tend to run into issues on this when we dive deeper.
#3 Personally, when I was starting out, I invested out of state. I built a team of a trusted broker, lender, contractor and property manager that have led to a lot of great cash flow on long term buy and holds as well as flips.
The bottom line: keep studying, look for deals, build your team and keep networking. Feel free to send me a message if you want to connect as well. :)
welcome. definitely house hack. my advice: put the work in. people want to look at 3 places and make 1 offer. so look at 50 and put in 10 offers. patience is a virtue in RE.
Like @Nicholas L. said, house hacking is one of th me easiest ways to do it. Most of our STR investor clients in Colorado have started with some kind of house hacking.
But to disagree a bit with the above advice, I would not look at 50 homes. If you do, you've probably already missed a solid deal. The most-often-made mistake I see is not investors who buy too early, it's buyers who never buy because you can't find the best deal.
Our most successful Airbnb investors in Denver or Colorado Springs or in the mountains are those that run numbers, look at some homes and make a decision. Then they buy again in a year. Others take a whole year to decide to buy one while the first investor now has two properties.
Real Estate Agent · Los Angeles, United States · Member since 2021 · 392 posts · 162 votes
2y
Hey @Mike Mizwicki! Fellow team leader agent here in LA! Really excited to hear about you looking to start the journey of REI. I've invested all over, but have found some really great niches out of state. If you ever want to connect, I'd be happy to talk about my personal journey in real estate investing - but in the meantime I'll share my personal tips.
#1 Since you're an agent out here, house hacking could work out nicely if you can find the right deal. Right out the gate, you could theoretically apply your commissions towards the down payment or towards rehabbing a property to rent it out for top dollar.
#2 If you find that STR's are your passion, I recommend really studying up on CA laws and regulations on these. CC&R's locally are making it harder and harder, especially in LA County. No impossible at all, but I find that a lot of investors I work with locally tend to run into issues on this when we dive deeper.
#3 Personally, when I was starting out, I invested out of state. I built a team of a trusted broker, lender, contractor and property manager that have led to a lot of great cash flow on long term buy and holds as well as flips.
The bottom line: keep studying, look for deals, build your team and keep networking. Feel free to send me a message if you want to connect as well. :)