Real Estate Investor · Seattle, WA · Member since 2016 · 6 posts · 3 votes
Hello everyone! My name is Stepfon and I have recently moved to the state of Washington. Anyone have any advice or ideas on the area such as best areas to invest in? I'm mostly looking to wholesale properties. Any help would be greatly appreciated!
Engineer/Real Estate Investor · Renton, WA · Member since 2015 · 368 posts · 120 votes
10y
@Stepfon Henry I am in the same position you are in terms of recently moving to this area.
My recommendation:
1. Figure out what type of investing you want to pursue in the near future. Then look at the homes sold in the last X # of months and try to figure out if they would work for the type of investing you'd like to do.
2. Also try to look at homes sold to understand what the price points are in each area you are considering. You may find that an area won't work based on rent to acquisition ratios.
In general I'd spend a lot of time looking into price points and try to go to some meetups to get a feel for what successful investors in the area are doing. They may not take you under their wing, but they will probably at least share high level information about the type of investing they've had success with.
Also consider where the market you are considering is relative to your investment strategy. Lots of people suspect we are near the top of a market in King County, and even @Brandon Turner has suggested that in his area it feels "topish".
Ann Arbor, MI · Member since 2014 · 1k+ posts · 997 votes
10y
@Pete Perez Nothing against Brandon Turner or any other experienced investor but I'd be curious to know what actual evidence there is that the market is "topish." Personally, I've been through a few of these cycles and found that even the most it experienced investors' "gut feelings" make for the very worst investment advice.