New Member from Seattle eastside WA

13 Replies

Hi all.

I am in Bellevue / Redmond area of Washington state. Have been reading about real estate investment on and off for the past 7 years. Because I got a new job in 2010, I became an "accidental" land lord. Fortunately the two places are within a 2 hour drive distance.

Just spent a lot of time renovating my current living quarters. It is not easy. Hands on gave me some experience in renovation. Renovation also help me figuring out price and time required to do the job. Youtube will teach you quite a bit of the "how to".

Graduated from University of Washington with electrical engineering degree. What I do now days is project management, contractor negotiation, and construction safety / risk evaluation.

Real estate takes a lot of street smart, instead of "book smart". I am hoping to find a team or senior team leader so we can all learn from each other.

The devil is in the details. If I can shadow experienced people when they do their real estate magic, it would be great.

Primary Objective: Create a portfolio of rental properties to have basic financial security. Going for condos, SFH, and duplex / triplex.

Immediate plan of action for the next 3 months:

1. Read and learn using free resources on the internet.

2. Network with local people with similar interests. Real estate is very local. First stop is the local REIA organization.

3. Look at properties on MLS / Zip Realty, pick a few good candidates, and analyze numbers. I will post my analysis in the forums and invite discussions. Two heads are better than one. :-]

Welcome to BP Steve! Washington State has landlord-tenant laws that are good for landlords and our participation with the lobbying efforts of the Washington Apartment Association help keep it that way. That being said, however, King County and the greater Seattle area have some additional regulations that are hard on landlords and more friendly to tenants. Be aware of the laws that pertain to the areas where you will invest. You will want to know what the tenant union in King County is doing, here is their link: www.tenantsunion.org

Good luck and happy investing!

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@Steve K.

Welcome to BP. We're in Kirkland and relatively new to investing. We picked up some rentals during the downturn. We're now trying to get back to our primary residence which was also a foreclosure purchase. Check out the "Learn" tab up top along the blue border of this site. Lots of great info. Zack mentioned a meetup we have you should check out. Also, there is REAPS - the largest REIA in the area. You can attend your first meeting free - just search REAPS on Google. Also, since you're interested in being a landlord, you should check out WLA, a great landlord association for WA state. Also check out BP Ultimate Guide to Screening Tenants and you should be starting off on the right foot. See you around the forums.

Hey @Steve K. Here are some good places to start:

http://www.biggerpockets.com/meet- find and connect with other BP members that are in your area.

http://www.biggerpockets.com/alerts - Set up keyword alerts to be notified of the topics that interest you.

And, of course the

http://www.biggerpockets.com/forums - ask any question about real estate!

See you around!

Hey @Steve K. Welcome! Definitely start jumping into the community here! Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.

Finally -be sure to setup some keyword alerts - especially for "Believue" so you can jump into local conversations.

See you around the forums!

Welcome to BP community @Steve K. ! It is a great place to meet new friends and learn about various aspects of real estate and more.

Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet

Wishing you the best!

@Steve K.

Welcome to BiggerPockets! I am relatively new to the forum as well, but have been actively involved in real estate since 2002. If you need some help, or just someone to run the numbers by, give me a shout!

I would love to get some of the newbies and regular contributors from our area together to discuss what has worked for us, what hasn't and what we hope to achieve. I believe that @Brandon Turner has mentioned planning a meetup in the Olympia area.

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