Examples of deals in Washington state?

[Pavel Gritsai]

I was looking at Zillow and Redfin for a potential sfh to buy as a first cash-flow investment, but everything that I found was a negative cash flow even before the rehab costs.

I live in Seattle and was scouting for anything in a 1.5h drive radius (Tacoma, Marysville, Bremerton).

If you found anything in this area in 2019 - could you please share what it was? So that I callibrate a bit towards what's feasible? Was it on MLS or an off market deal?

I think what I am asking for is an inspiration :)

Thank you in advance!

[Aaron Nelson]

@Pavel Gritsai - My clients have been finding cash-flowing rental properties throughout South King and Pierce Counties. Some are on-market deals, some are off-market. Some are SFR, some are multifamily. It really depends on the buyer's strategy and what they are trying to accomplish.

I recently helped a buyer purchase a 4-plex in Northern Tacoma for a househack. Another client bought a duplex in Lakewood for $270K that rents for around $2400/mo. Another an SFR in East Tacoma for $280K. On the surface those deals may seem good to one investor and bad to another; it really just depends what each wants. For example, the fourplex is in a A-class location and has about $200K in potential equity with a little TLC that the buyer wants to do himself because he has the skill set. The Lakewood duplex was an out of state investor looking for cashflow in a gentrifying area with zoning upside. The SFR buyer makes a bunch ton of money on his W2/1099 and simply wants to buy the house, pay it off, make some cosmetic updates and then do a lease-option in an appreciating area.

I strongly recommend connecting with an experienced and knowledgeable agent who invests in real estate him/herself and leveraging their knowledge to help you find the right property.