Where to find a decent rental property in WA.

6 Replies

Hey guys,

I wanted to get some advice from the Washington BP members in here. I currently live in Bellevue and work a full time job. Most of the time from 5pm-5am, so I find myself searching the usual sites. Redfin, zillow, remax, realtor etc. I am looking for a 2-4 unit that I could use my VA loan on. I'm not scared to buy my first property, I just can't seem to locate anything worth the time. I have contacted a few agents about properties but they have all had major problems, foundation and such. I'm assuming once I get out to some of the meetups and make friends I will probably get steered in the right direction. Are there any deals to be found online in King/Snohomish/Pierce county? I'd appreciate any information. Thanks guys!

Hey @Nathan Labrum - I believe it all depends on what you're looking for as far as return goes. Everett has pretty slim pickings at this point, the small-multi market heated up and all of the good MLS deals were grabbed over the last few months, we could see things open up a bit in the spring though.

Forget about Seattle, darn near impossible to find a cash-flow property on the MLS at this point.

The Tacoma-Auburn area still has many intriguing possibilities, I would concentrate my search in that area if you're looking for a solid income opportunities. One note of caution is to be sure you fully understand the area and situation you're getting into, know when a property has septic vs. sewer, be cognizant of the rental market you are catering to.

Good luck!

Welcome to BP. There are tons of great deals in Snohomish, King, Pierce and Thurston county. But locally, working with agents won't get you very far. You will need a much bigger net to catch some deals.

Hey Nathan,

You've already heard some great stuff from @Alex Chin and @Ryland Taniguchi . If you are willing to stretch your sites to Kitsap county. You might want to check out Bremerton. As I'm just getting my feet wet, I'm learning and believing its a great rental market. Feel free to check out some info from Kitsap Economic Development Alliance - KEDA. They just had a 'State of the Market' conference last month and shared some very interesting information on growth. Bremerton is an established military town with a community college and if you drive around, you will get a sense and see that its undergoing a redevelopment phase. Price points are great too! Heading out this afternoon with an agent to take a look at a couple potential rehab - rentals. 

Best Wishes!

Thanks for all the information guys I appreciate it. I've been gone on business for a few days so my apologies on the delayed response. I never thought about Bremerton but you make some good points. The way my search has been going I'm open to most areas! 

I zone in frequently on Bremerton wondering why there seems to be good deals even on the MLS there. The naval station is close which means good rentability.

I read an unrelated article recently that said Bremerton had a pretty high crime rate, but I didn't do any of my own research.