Newbie in Los Angeles, CA
Hi BiggerPockets! My name is Mike, and I'm a real estate investor and soon-to-be real estate agent based in Los Angeles, CA. I currently own 2 properties in LA (the first was purchased as my primary residence and is now a full time rental, and the second is my current primary residence which I'm also renting out bedrooms in while I live in one room - aka house hacking) and am about to close my third deal in Scottsdale, AZ.
I'm looking to expand my real estate portfolio, both in LA and outside of LA . I'm hoping to meet fellow investors, and bounce investing ideas and questions in these forums.
Mike
Most Popular Reply
@Michael Wither I'm happy to throw my 2 cents in! If you don't want to incur the upfront cost of furnishing the house (which I totally get) then you are taking the best route for sure. You can easily list the home on Zillow by owner and it will get snapped up. I was helping a Chicago couple try to find a decent single-family rental in Scottsdale for $2,500 and you would not believe how limited the supply was and how schlocky some of it was.
I'm personally pursuing what I call a "hybrid strategy," which is my fancy way of saying I am renting (furnished) for 1-month minimums in high season (this season I attracted one retired couple for Dec/Jan and another for Feb/March) and then opening up other month to shorter stays. I enjoy having this flexibility.
The reason for this is I am getting $4,000 for Dec. and then $5,800 for Jan-March. And I am incurring NO management time as these people pay all the money up front and then quietly enjoy their stays. Talk about hands off! [Link Removed by Moderators]
Hope you find this info useful!
Melanie