I recently discovered BiggerPockets and I have to say I'm really impressed with the site/forum/podcast. I wish I had found this site years ago! I've been lurking on the site for a few weeks and I've read so many interesting discussions I thought I should reach out to the community. Hi community! Thanks for posting!
My wife and I have slowly acquired a few properties in Seattle starting in 2011, buying a property every couple of years. We have four units that we manage ourselves (along with full-time jobs) and a house that we currently live in.
I'm hoping the Seattle ADU laws will change this year to remove the owner occupancy requirement which will allow me to add another unit. I'm also considering purchasing another property (SFR or small multi-family) outside of Seattle (within ~1 hour drive) this year or next if I can find something...starting to look at Tacoma, my home town.
Anyway, I'm looking forward to learning from others in the forums and connecting with local investors!
Welcome to BiggerPockets Scott and best of luck investing!
I'm also in seattle and have been executing on a similar strategy - since 2006 I have acquired 8 units (3 properties) in Seattle and Burien. This is a very useful site, I've been a landlord/investor for 10+ years and find I'm still learning quite a bit here. Welcome.
I kind of suspect the owner occ requirement on ADUs will remain else all SFR zones would turn into investment free-for-alls (more than they are now) and its probably somewhat fair to limit competition between people wanting to buy their own house and people wanting to convert it into a duplex or triplex. I'm supportive of the city enacting policies to encourage more ADUs and DADUs. Right now while the govt. claims they want to encourage it, the actual policies and taxes/fees penalize you pretty badly especially if you want to build a DADU.
@Scott Boyd I started with a couple B and A class rentals in seattle. But I moved out of state for more cashflow. Let me know if you need any advice.
Hello @Scott Boyd , welcome to BiggerPockets! It is great to have you and please feel free to jump in the community - there are certainly great people around here!
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