Goal for 2024: Purchase my first investment property

[Mike Mizwicki]

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.

[Garrett Crosby]

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. :)