Multi-family First purchase (2-4units)- Seattle VS. Texas
Hello Everyone! I just discovered Bigger Pockets about a month ago and am totally obsessed. I am a new investor and looking to purchase my first multi family, ideally a fourplex but open to a duplex or triplex. I have made 5 different offers in the Seattle market (Issaquah/ Redmond area) on fourplexes. I was beat on each of these by cash offers (even when offering over listed price). I'm very frustrated continuing to look with pricing so outrageous (ideally looking for $650k-$850k range) here. My husband travels a lot to Frisco, TX and we could be spending a lot more time there and eventually moving in the next few years. My question, would you stay focused on Seattle where we live currently, know the market well and I also have my real estate license in WA but finding a deal under a mil, seams almost impossible and could take awhile or focus on a new market like (Mckinney/ Allen/ Frisco / Plano areas) learn the market and buy our first multi family there since it's so much more affordable. I really like the appreciation factor that the Seattle market offers but I feel like I may be waiting forever to find a deal where I know I could get something in TX but a lot more headaches come with that and managing an out of state property. I just want to get started. All thoughts welcomed!!
Thank you- Natalie