Investing in Washington State

[Pao Prieto]

Hi all! I am new to this site and have been actively listening to the podcasts and love it. I was wondering where in washington state can I start with my first property. I used to live the Olympia and now I am based in California. Home prices here in California are too expensive. I plan to put 20% down and maybe a townhouse or a SFR less that 200k

Thank you everyone in advance!

[Tiffany Johnson]

I'm in Olympia, and have two SFRs here. I've been watching the MLS for houses under $200k, and most sell quickly. Rents are around $1300-$1400 for 3 bedrooms; $1600+ for 4 bedrooms (and I think Zillow has fairly accurate estimates). I didn't plan to invest here, but was fortunate to come across our first rental last year. I wanted to follow the exact same process (buying a foreclosure and rehabbing for appreciation and cash flow), but it was a lot more difficult finding a good deal this year. Most houses in that price range need work, and there's a lot of competition for them. They've been good investments because we've been able to do the rehabs and manage the properties ourselves. I'm not sure there's much cash flow otherwise. Feel free to contact me if you have questions. Good luck!