Newbie from Bremerton WA

9 Replies

Hello All!

My family and I live in the Kitsap/Mason County area of Washington State (Across the water from Seattle). Technically I live in Belfair, which is very rural. Bremerton and Port Orchard are the closest cities, about 10 miles away.

I am interested in purchasing single and multi-family homes for rentals.

I am looking to semi-retire from my job in Controls Engineering in the next 5-6 years.

I have purchased 2 homes for personal use and rented one of them before selling it. Real Estate investing has been an interest of mine for a number of years and I am ready to take the plunge. I have about $25K in cash and a line of credit of an additional $20K to get started.

Thanks for looking

John

Hi John, 

Welcome to Bigger Pockets!  I'm in Bremerton and invest full-time.  There is good opportunity hear if you know how to find off-market deals.  Also a good renter pool with the shipyard and Navy.  You should attend the REAPS meeting in Poulsbo so you can network with other investors.  Normally it's on the first Thursday of each month at the Poulsbo library, but January's meeting will be on Wednesday Jan 7th because of the holiday and scheduling conflict.  Look forward to connecting with you.

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Welcome to BP, John! I'm an active investor and licensed RE broker in Kitsap/Mason county area. I live in Bremerton. You will enjoy this site and the people here. Please feel free to PM/contact me, I'm available for a reach out and questions. Again, welcome to BP!!! 

John, welcome to BiggerPockets!  My husband did many growing up years in Port Orchard.  I suggest using at least part of your line of credit as your emergency fund, since you only pay interest on it when you use it.  We love ours.  See you around!

Welcome to Biggerpockets!

I love that area! We have friend who are stationed up there! It is beautiful. We got started building our portfolio by turning personal properties into rentals when we are transferred. 

You found the place to be! You will find no better place to build a solid platform than bigger pockets. The one thing we all agree up on is that we invest in real estate. Beyond that everyone is different.

The key is not get stuck on analysis paralysis! We have found slow and steady has made us very successful. Babysteps are key :)

We are buy and hold investors who invest in class A properties self-managing from a distance while working full time. We have a very specific business plan and we buy very specific houses. This allows us to meet our long term goals while self-managing and working full time. Our ultimate goal is to use our real estate cash flow to fund early retirement in 15 years. So we live frugally allow us to invest in real estate. Other people use wholesaling or flips to fund their rentals :)

I highly recommend you also check out- the blogs, forums and listen to the podcasts. If you see a post you enjoy check out the persons signature. As many of us have created resources around our niche (websites, blogs, etc) so checking out the signature is a great to get more information. Make sure you don't miss out on networking is by filling out your signature, profile and pming people with questions.

Look forward to seeing you around!  

Welcome to BP community @John Devitt  It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

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

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

If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below. He or she will be notified of being tagged so that the conversation will continue.

Wishing you the best! 

@John Devitt  

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul 

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