9-5 job complicating investing.(long) Seattle/Tacoma/Bellevue area.

[Scott Kelley]

Hi all,

Sorry for the long post but it's a situation I'm trying to resolve.

I'm trying to get started in investing but still work a 9-5 job. Currently I have one house that I live in and one house in another state that I rent out and basically break even on.

I had set aside some money (before discovering all the info on BiggerPockets) for seed money to buy another place.

I'm now suddenly needing to move to be closer to my job, in the Seattle/Bellevue area. I have some opportunities in the area, primarily condos, either near Microsoft, or in downtown Tacoma, which is a market that appears to be on the fringe of taking off.

The issue I have is that buying this place will eat up a lot of my seed money. I think I'd be able to readily rent out either of these places later, when I move out.

My question is this. Would it make sense for me to buy one of these condos as part of a business and rent it to myself, or simply purchase it on a third mortgage? I think I can get much better financing with it being a third mortgage but I don't know if there are other advantages to trying to make it part of a business.

Also, does anyone know the Seattle/Bellevue market who would be able to help me find a better deal like a duplex, where I can generate some cash flow, rather than what I'm currently looking at?

Finally, would it make any sense to rent something for myself and use the money to purchase a different place to rent out instead? I don't think so but I know there are some alternate strategies out there.

Thanks again for the help!
Scott

[Karen M.]

Scott, would it be economical / practical for you to live in a rental and then invest your savings wherever you can get the best returns?