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Crystal Florida works in one of the most competitive real estate markets in the country — the San Francisco Bay Area — and as an agent with Climb, she’s got her work cut out for her just helping out clients. But Florida has her eye on the long game and wants to build a legacy, so she’s taken her real estate career even further by investing in real estate (in one of the most competitive markets in the country).
She’ll be discussing how she’s building her nest egg at a special panel about investing strategies for agents, happening only at Inman Connect San Francisco, July 17 through 20 at the Hilton San Francisco Union Square.
“After my first few commissions, I realized I could start re-investing those commissions into the real estate market,” she explains. “So I was able to start flipping houses in my second year, and I’ve also partnered with some of my clients to help them fix up properties or finish projects.”
Florida has mostly focused on fix-and-flip investments, and she’s just starting to get into buy-and-hold strategies, where she’ll keep the property for a period of time and rent it out. “I figure even if the market does go down, as long as I hold on to the house, I’ll be fine in the long run,” she notes.
It’s a competitive business either way. “Everybody thinks they can flip a house because they watch HGTV,” Florida says. But the biggest mistake that she sees new investors make revolves around timeframes: “I’ve done the most projects in the city of Oakland, and they’re pretty tough to deal with. You have to pull permits, wait for an inspector to come out — and there are always these little things that come up.”
Learn how Florida is juggling it all with her real estate business at Inman Connect San Francisco.
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