Real Estate Investors: Any Tech Professionals Out There?
Rental Property Investor · Austin, TX · Member since 2019 · 17 posts · 13 votes
Hello Fellow Real Estate Enthusiasts,
I am hoping this thread can get us tech professionals networking with one another and discussing our experiences in real estate. What drew you to real estate? How are you all balancing investing parallel with your professional career? Are any of you also house hacking? How did you pick your markets? Feel free to ask other questions in the comments, too!
A little about me... I am a product manager based in Chicago and currently working toward my first house hack. Looking for a market that is a tech hub with a great outlook. Most interested in Seattle!
Looking forward to connecting with y'all.
Hey Bryan!
I'm a Software Engineer in Seattle. I graduated college in December 2020, and then bought my first house hack and started my job all in January! Seattle has a great outlook for real estate, appreciation has already made my house hack worth it many times over XD.
I knew I was going to invest in real estate and be a software engineer since high school. I mostly chose the career path of CS in order grow capital for my real estate investing faster, and I'm very happy with that decision.
I think tech is an amazing field to work in alongside real estate investing; find a company that respects your life outside of work, and remote or hybrid work helps with cutting out commute time! Let me know if you'd like a referral to one.
I plan on continuing a career in tech for 5-7 more years, then transitioning to part time real estate and part time other interests I have!
That financial freedom will be funded by my real estate investments; I'm on the hunt for my second deal and am excited to progress. Currently I'm looking at multiple strategies including another house hack, being an LP in commercial deal, and working with other Seattle investors to buy a vacation rental in western NC for STR.
One thing to note is a house hack in Seattle right now will likely not cash flow unless you have significant value-add. Mine is breaking even right now but the loan pay down equity and good prospects of Seattle market make it awesome. I should be cash flowing roughly 500/mo when I move out.
Awesome to connect!
Hey Bryan!
I'm a Software Engineer in Seattle. I graduated college in December 2020, and then bought my first house hack and started my job all in January! Seattle has a great outlook for real estate, appreciation has already made my house hack worth it many times over XD.
I knew I was going to invest in real estate and be a software engineer since high school. I mostly chose the career path of CS in order grow capital for my real estate investing faster, and I'm very happy with that decision.
I think tech is an amazing field to work in alongside real estate investing; find a company that respects your life outside of work, and remote or hybrid work helps with cutting out commute time! Let me know if you'd like a referral to one.
I plan on continuing a career in tech for 5-7 more years, then transitioning to part time real estate and part time other interests I have!
That financial freedom will be funded by my real estate investments; I'm on the hunt for my second deal and am excited to progress. Currently I'm looking at multiple strategies including another house hack, being an LP in commercial deal, and working with other Seattle investors to buy a vacation rental in western NC for STR.
One thing to note is a house hack in Seattle right now will likely not cash flow unless you have significant value-add. Mine is breaking even right now but the loan pay down equity and good prospects of Seattle market make it awesome. I should be cash flowing roughly 500/mo when I move out.
Awesome to connect!
Hi Rand,
I appreciate the meaty response. Sounds like you have a stellar vision for your long-term plan. Well thought out, so kudos! Congrats on all the achievements from early this year, too. Tons of great change and foundation for wealth accumulation.
But hey - I definitely share the same outlook on the Seattle-area market. I still see it primed for growth over the next few years. Bullish on the appreciation play. I figure my house hack is going to be a break-even scenario, as well, which I don't mind for a house hack. Just hoping to have the ability to invest even more with the increase in expendable income.
Re: Your house hack - how long'd it take you to pull the trigger? Was it single-family or multi-family? Which area did you buy in? What was the strategy? Very interested in your experience, now that you're eight months in!
Thanks again!
@Bryan Calzadilla I was looking for probably a month before I found an off-market deal from a former BP podcast guest -- It is a 2800 sqft SF home with 6 rentable rooms. I bought in Tukwila which is just south of Seattle. In general south of Seattle will be the best place for numbers in a house hack just since homes are at a lower price point.
Rent from the 5 rented rooms is 4700/mo
Mortgage is 3700/mo
Utilities, reserves and other expenses come out to 1000/mo so I'm essentially living in the 6th room for free!