New to BP - Poulsbo, WA

[Josh Obregon]

I just joined BP. I'm living in Poulsbo, WA. Like many people I hear in the BP podcast and other real estate podcasts for that matter, I was introduced to the idea of real estate through "Rich Dad, Poor Dad." So I took took action shortly after by acquiring a rental property in Fairfield, Alabama right outside Birmingham. Let's just say I've learned a lot from that mistake. Around the same time I joined the Navy which kept me at sea more than I've been in land over the last 4 years which has really kept me from being more involved. I'll be getting out of the Navy in approximately 1 year and want to turn my attention to real estate. Now I'm trying to partner with somebody with experience in Section 8 housing to learn more and help me turn that property around. I am concerned though because Walmart recently closed and many other businesses are following them. To me that is a huge red flag. Once I can move past the Fairfield property, I would like to start investing in the Kitsap County area. I see huge opportunity! The Naval Bases and Navy Shipyard are the big employers followed by academia (the colleges and local school districts). Adding to the appeal of the area is the development of Silverdale which has added a new shopping center that features Forever 21, Total Wines & More, & Chipotle; and renovating older shopping centers that have brought in notable stores like H&M and already hosting Kohl's, Macy's, and Barnes & Nobles. I've been following the area closely. Some key indicating numbers in single family housing are as follows: -Median Sold Price: $292,000 -Sold Listing Price: Up 18% -Avg Days on Market: Down 33% Although single family housing it appreciating well which creates a great fix and flip environment, multi-family seems like a better long term strategy because of the 3-4 year turn over in Navy and Marine Corp personnel. If you've taken the time to read through novel of an introduction, I'd appreciate any feedback! Thank you in advance.