250k in an expensive market
Hi All,
This is my first post and look forward to being a part of this community.
My question is about what to do with a decent lump sum in an expensive market. I live in Seattle and am a licensed agent/property manager. I have about 250k I can invest and am looking for a duplex or house to rent out. The problem here is the cheapest duplexes are $800,000 and those are not always in good shape and in lower rent areas. I would need to spend 1.3m to get anything in a nicer area. I have not seen one yet that will cash flow, and cash-on-cash return with 200k+ down is not inspiring. Sorry if this topic has been beaten to a pulp, but I would appreciate some advice on what to do with 200-250k. I suppose I don't need to buy here, but you cannot beat this area for rent stability. Any suggestions are appreciated. Thank you.