Exploring Life & Business with Michelle Crochet of Keller Williams Realty | Magnolia Group

Today we’d like to introduce you to Michelle Crochet.

Hi Michelle, so excited to have you on the platform. So before we get into questions about your work-life, maybe you can bring our readers up to speed on your story and how you got to where you are today?
Real estate became my passion after I sold my chocolate company to a private equity group after running it for 11 years, and I was searching, thinking, and feeling things out for what would be next. During that time I was at home with my second child who was a newborn, so I had more time on my hands. While my husband and I explored buying a rental property out in Palm Desert, I was introduced to the podcast called BiggerPockets, which is an amazing library of real estate investing education for all levels and types. I got obsessed and listened every day, saving notes about what really appealed or interested me, strategies and tips. As the Palm Desert property purchase proceeded, I also observed my real estate agent, seeing how he worked and what he did, and then it just clicked: I could fulfill my new dream of being a real estate investor and be a real estate agent in LA simultaneously, with one feeding the other in terms of skill, education, experience and enjoyment. Being a real estate agent in LA just made sense…extremely flexible (since I had two kids), very entrepreneurial (what I had known for 11 years), completely independent (I could not imagine ever having a boss again), and also a financially sound career (baby’s gotta eat!) – all the boxes I was trying to check.

My real estate journey kicked off started in 2013 when my husband and I bought a total fixer condo near the Hollywood Bowl and lived in it while we did a top-to-bottom remodel. This is commonly known as a live-in-fixer and it was in need of serious renovations. It didn’t need any structural changes because it was a condo, but there was astroturf on the floor of the primary bathroom and a rat problem on the balcony to give a little color to what we were facing. But it was such a fun project and when we sold it three years later in order to move into a single-family home with a backyard, we doubled our money on the purchase price and also paid no capital gains tax on the profits as a benefit of the Federal regulation on real estate sales in such circumstances. I saw the power of wealth building through real estate, and today I seek that out for myself and help many clients do the same as their agent when they buy, sell or invest.

Now, I am consistently a Top 10 producer in my Keller Williams brokerage of over 200 agents. I am the recipient of the highest Number of Closed Transactions for a solo agent award in my office for 2022, as well as the highest Gross Commission Income for a solo agent award for 2022. My investments have grown to include investing in single-family homes, multi-family properties, short-term rentals, long-term rentals, and fix-and-flips, some of which are in LA and some of which are out of state. I will say as much as possible I invest here in LA – the future equity and wealth generation of real estate in SoCal is golden. I truly love both aspects of my career.

Can you talk to us a bit about the challenges and lessons you’ve learned along the way. Looking back would you say it’s been easy or smooth in retrospect?
Oh yeah. Oy, I never seem to pick things to do that are simple and smooth. I know I love the hustle of creating something I consider authentic to me and exceptional based on my standards, but for sure that has come with bumps in the road.

As a realtor in LA, it’s often a struggle just to get it all done. It’s a 24/7 career so I can be available for my clients when it’s convenient for them, so that means running around town, texting and calling 24/7 and writing contracts from some bizarre places because deals happen on their own time. I think being a mom has helped me in this career now that I think about it! I have slowly leverage parts of my business where I am willing to let go a bit so I can focus on the most important parts of the business which are servicing my current clients and connecting with new ones. I now have a small but supercharged team of women and we are really hitting our stride.

As an investor, there have been many learning experiences. There are so many moving parts and financial risk. From dealing with issues like getting financing for an investment, getting city permits, getting all the materials needed in a time when there is major shortages, getting properties under contract in a crazy hot market the last couple of years, making sure the utilities are turned on when the airbnb guests arrive (it’s happened :-/ ) and maintaining enough mental strength to stay confident and focused on the long term success has kept me on my toes. As our real estate investment activity has grown, my husband has taken a step away from his 10-year career in entertainment to jump in and focus on it and keep building that.

Perseverance is possibly the most important word in my life. It’s what has kept me moving down every bumpy road I’ve ever been on. Write that down! PERSEVERANCE!

I learned a long time ago that struggles are ever-present and LIFE IS SHORT, so just embracing them, seeing them as opportunities, and finding ways to take risks, aim high and have fun are the ticket to pushing past the struggles into successful outcomes.

As you know, we’re big fans of Keller Williams Realty | Magnolia Group. For our readers who might not be as familiar what can you tell them about the brand?
Highlights of 2002: $13.3M in Closed Volume
Six months ranked as Top 10 Agent
Worked with 10 Families, 9 Investors, 9 First Time Homebuyers.
Made over 40 donations to charities
Hosted three client and community events

Alright so before we go can you talk to us a bit about how people can work with you, collaborate with you or support you?
Become our client! We would love to work with more amazing people around LA. Mostly I work with Sellers for single-family (up to 4-unit) residential homes, Investors, and First Time Homebuyers. I am and have been all of those things, and I am pretty analytical, an over-communicator, and what I would call organized (my husband might say I’m a crazy person), so I really shine with these types of clients.

Please reach out!

Insta @michelle.yourfaverealtor

Call / text 818-688-2062 or email mc@magnoliagroupla.com

Even if someone wants to invest out of state, we can help connect them to an exceptional agent in the location of interest to them.

Contact Info:

• Website: www.magnoliagroupla.com
• Instagram: https://www.instagram.com/michelle.yourfaverealtor/
• Facebook: https://www.facebook.com/Michelle.YourFaveRealtor
• Linkedin: https://www.linkedin.com/in/michelle-crochet-5441a5a/
• Youtube: https://www.youtube.com/channel/UCHhx0W4ScTY7-4UHzIxd1fg
• Yelp: https://www.yelp.com/biz/michelle-crochet-keller-williams-realty-burbank
• Other: Cell: 818-688-2062

Image Credits
Headshot: Shane Karns