Looking to do the Hack your Housing thing in the Burbank, Ca area.
Need a great real estate agent to find some good properties. Please send out your recommendations!
Thanks for help!
Konrad and Jenny Lightner
Hi @Konrad Lightner - my wife and I accomplished this last year and learned a lot in the process. Burbank and Glendale are both highly active markets since they are the only cities around without rent controlled laws. With this in mind, you will be facing heavy competition unless you have enough cash to pay much more than a property is worth.
We had an agent who was great but we quickly learned that things move far too fast to rely on anyone else to find houses for us. If you are serious about buying in this market you need to be prepared to drive by properties as soon as they hit the market and make offers based on nothing more than what you can see from the street. The triplex we ended up purchasing had 11 offers before the first day was over and was in escrow by the next morning.
Sorry if that didn't answer your question. Our agent was out of Orange County so she may not be the best fit for your needs. I've got plenty of more tips about buying in this area though, if you need them. It was a long road for us and I suspect you'll be in for a ride as well. Stay with it though, Burbank is a great city and the strong rent prices make it all worth the effort.
Thanks for your input @Christopher L. Hopefully we will have some luck and find a place. Any and all tips would be appreciated, since you know the Burbank, Glendale market!
A few more thoughts...
Hop on Redfin and get a feel for the neighborhoods and how the prices change as you go north. Setup email/app alerts for properties that fit your criteria and then play with the numbers on rentometer.com to get an understanding of what kind of income you can expect.
After that be sure and get your financing in line so when you're ready to start making offers you know exactly what your constraints will be.
Good luck! I hope you find something.
I just purchased a duplex in Burbank in May. It is far from "live for free", but I purchased it for the price of a single family residence and have some rent coming in each month.
I will send you a PM with the info of the agent that I used. She is very responsive and she is local, her office is in Burbank.
Good luck on your hunt!
I'm a realtor in the South LA and North OC area. I will come across some Burbank properties from time to time thru my farming. Shoot me your email if you're interested.
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