Whidbey island property

Investor · Seattle, WA · Member since 2019 · 47 posts · 18 votes

Thinking of buying a property on whidbey island for my first house hack. Is whidbey a good market if I wanted to rent? Thanks! @seattle

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Michael HaasBusiness Member

Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes

I've shown about 6 houses on Whidbey but haven't ran number recently - although I've been thinking of it as a STR market more than a LTR market.

I'd imagine most of the islands in the Puget Sound have good awful LTR numbers - lots of wealthy homeowners bidding up prices and a commute/local job market that is less attractive to renters doesn't seem like a winning formula.

Why Whidbey?

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Michael HaasBusiness Member
Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes
7y
I've shown about 6 houses on Whidbey but haven't ran number recently - although I've been thinking of it as a STR market more than a LTR market.
I'd imagine most of the islands in the Puget Sound have good awful LTR numbers - lots of wealthy homeowners bidding up prices and a commute/local job market that is less attractive to renters doesn't seem like a winning formula.
Why Whidbey?
[email protected]408-439-7873
HouseHack Seattle | Michael Haas & Team572 Reviews
Website View Page
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Scott Price
Rental Property Investor · Coupeville, WA · Member since 2011 · 135 posts · 52 votes
7y
Hi James,
Whidbey Island has a supply/demand shortage of rentals in some areas and has experienced rent increases like other areas in more mainstream metropolitan areas. If you have a decent place and are already planning to live on Whidbey, house hacking could suit you well. It also depends upon your setup, whether you are renting out just a bedroom or a full separate unit with a given number of bedrooms, since different areas of the island attract different household types/sizes, though there is good general rental demand across the board and across the island.
Scott Price
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Stacy Edwards
Virtual Assistant · Langley, WA · Member since 2022 · 43 posts · 23 votes
4y
Hi James!
Did you ever end up doing this?

I'm in South Whidbey now and there is a huge shortage of rentals down here. Many have converted to STR, so long term rentals are hard to come by. I see Facebook posts constantly of people looking for places to rent.
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Dave Skow
Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
4y
@James Fraundorf- depending on the location on Whidbey - it might be ...the closer to the north end - the better as this will be where most renters will be located .....if you are needing financing to buy the property - get pre approved to make sure a loan is possible and that you have the ample down payment needed
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