My name is Michelle, currently I am living in Toledo, Ohio and due to my boyfriends job we find ourselves moving across the country to the Tacoma, Washington area. Together we have been listening to Bigger Pockets Podcasts for a few months, working through each episodes.
This only grew my love of real estate. I grew up around real estate here in Ohio. My parents build, own and manage their properties. After graduating college with a degree in business I started working for the company immediately. For the last five years I have managed their units, training multiple property managers and maintenance individuals, and also setting up procedures as the company grew. Five years ago they started with 150 units and today they have 390.
I now feel confident enough in my skill set to venture out on my own. With moving to a new area I was hoping to pick everyone's brain on recommendations on where to start. I have been debating between starting my own management company or purchasing my own properties. I would appreciate any guidance you all have the time to provide!
On another note we are also looking for a house rental for the end of November, early December if anyone has anything or would recommend any areas I would greatly appreciate it!
Thank you so much in advance for the help!
Welcome to the area, be sure to take advantage of all the outdoor spaces the South Puget Sound has to offer!
Personally, I am from the Tacoma area and love it as an investment market. It is where I invest and run my flipping business. Recently, we have been experiencing amazing growth as people from Seattle/Bellevue look for affordable housing. With the expansion of colleges and public transportation to the area there is a ton of new development in the downtown/Hilltop area as well as other parts of the area.
As far as what path to take, I think that really depends on what your goals are. Do you want to be more passive? If so rental properties with 3rd party management may work well. If you like your day job and PM, it could be worth going that direction. If you have limitless energy, why not do both to jump start your investments :)
A bit broad of a response but feel free to PM me with questions about certain sub-markets or for great restaurants and hiking trails.
Welcome to Washington!
Welcome to the North West!
There's definitely a need for GOOD property managers out here. Reputation would be key. As a midwest transplant myself I would highlight that there are a few more legalities to deal with. Cashflow on homes purchased out here is not as good as the midwest either, but there's some opportunities for appreciation and being creative can net you a great profit here. Good luck!
@Isaac Hobbs A question for future reference how does one become a property manager? I plan to include property management into my business plan at some point and I believe there are certain requirements do you know them?
I don't do anything with Property Managers myself. The office I hang my license at doesn't do anything with it either so I don't have a ton of experience on the ins-and-outs. If you have a RE license and want to do property management, make sure you office can support that. @Enrique Jevons would be someone to talk to as well as he has extensive management experience and is in the area.
Thank you for the mention, Isaac.
I have over 660 homes and apartments in WA State, including several in Tacoma. I'm always happy to talk about Property Management with anyone.
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