On Trend, Modern Buyers Are Building Their Real Estate Portfolio While They Sleep Through House Hacking
Coldwell Banker expert realtor® finds that 'House Hacking' is now trending as one of the best and most savvy ways for first-time buyers to get into the housing market. Instead of purchasing a condo or single-family home, the buyer purchases a multi-family home (2-4 units), lives in one unit and rent out the others. 'House Hacking' has recently grown in popularity, especially in the competitive Los Angeles market, as this new concept increases affordability, while it offsets or eliminates the mortgage and housing expenses.
LOS ANGELES, June 28, 2019 /PRNewswire-PRWeb/ -- 'House Hacking' as it's called, is now trending as one of the best and most savvy ways for first-time buyers to get into the housing market. Instead of purchasing a condo or single-family home, the buyer purchases a multi-family home (2-4 units), lives in one unit and rent out the others. 'House Hacking' has recently grown in popularity, especially in the competitive Los Angeles market, as this new concept increases affordability, while it offsets or eliminates the mortgage and housing expenses.
"A great example would be this hot property currently on the market we represent in the booming Silicon Beach area. A keen buyer could purchase the completely move-in ready impeccably remodeled duplex and instantly start building their real estate portfolio, all while living the lifestyle in one and renting the other," says Babette Ison, a Coldwell Banker / Global Luxury®realtor®.
Both units feature serene and private indoor-outdoor living space to maximize the Venice Beach life while collecting income along with all the other benefits of home ownership. The front is an active, income-generating unit currently on Airbnb and would be a huge help reducing the mortgage payment as a summer/full-time rental.
She goes on to say, "another example would be I put my clients in a quadplex, located in another sought after LA neighborhood. The creative new owner is currently remodeling one unit to move into and renting out the other three which offset the monthly mortgage payment by 58%."
If people have been thinking about buying a home, yet afraid of the overwhelming commitment, this new forward way of thinking makes it possible to own a home in LA and generate income at the same time - That is 'House Hacking.'
View the Van Buren/Venice Beach listing: https://www.coldwellbankerhomes.com/ca/venice/1137-van-buren-ave/pid_28704374/ Open House Sunday June 30th. Contact: Babette Ison Coldwell Banker Residential Brokerage Beverly Hills 310-717-0178 babette.ison(at)camoves(dot)com
About the Van Buren Property
This property is located in the heart of Venice Beach on the wide, tree-lined Presidential streets near Venice's world-renowned beach and boardwalk with walking, biking or "Bird" access to Abbot Kinney, shops, restaurants and entertainment. The front one-bedroom unit was completely remodeled and reconfigured this year accenting its vintage style while enhancing functionality and design. The owner's unit is tucked behind the long driveway edged with Siberian larch wood planter maximizing. The owner's unit remodel features refinished original hardwood floors, dining room, office/den (converted garage) and enlarged bathroom with skylight. Both units offer private outdoor space for lounging or outdoor dining. The property will be delivered 100% vacant and move-in ready (furnishings negotiable).
About Coldwell Banker® / Global Luxury®
Babette Ison, is a recognized worldwide top producing realtor® with Coldwell Banker / Global Luxury® in Beverly Hills. The prestige of the Coldwell Banker® name, combined with state-of-the-art technology, bespoke marketing strategies and one of real estate's most robust global networks. The Coldwell Banker Global Luxury® program redefines the world of luxury real estate marketing.
SOURCE Coldwell Banker
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