I'm located in Ann Arbor, Michigan, but am originally from Seattle, Washington and am aiming to invest in the greater Seattle and King County area. My goal is long term passive income, and thus I'm learning as much as possible about buy, rent, and hold strategies. I am open to buying turn-key, rehabbing, or developing new construction; with a focus on 1-4 unit properties. I highly prefer conventional financing if possible, but am exploring other options for properties that require rehab before then refinancing into a conventional mortgage. I want to stay in the high end market in order to maximize the cash flow per deal and reduce the amount of total property management required. In the short term I'm working to increase my knowledge about real estate investing and the markets I want to invest in, create opportunities for capital, and monitor for deals.
I am from Seattle and I am getting into real estate investing myself! I can't help you as I am just learning the basics, too. Good luck! If you can get into properties in King County, I'm sure you will do well.
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.
@Kyle B. I started investing in seattle but my goal was passive income so I went out of state. You might want to look in Atlanta, Indianapolis, Ohio, Birmingham, Kansas City, or Memphis.
@Kyle Brockman King County and Seattle in particular are very hot markets at the moment. Based on the current prices you will have a hard time finding much that will produce cash flow. Most investors are other looking for some balance between cash flow and appreciation. In the Seattle market most investors are getting their returns from asset appreciation rather than cash flow.
Study the market using whatever online app for viewing the MLS you like and reach out to agents / wholesalers to get added to their mailing lists. There are always opportunities in every market, you just have to put in the time and effort and you can find that perfect investment that matches your goals. Best of luck on your investing journey.
Thank you all for the warm welcome! It’s great to find a community of like minded folks.
I feel like 95% of the country cash flows better than here, which is why most of my investments are out of state. I think you'll find better opportunities in your area than in King County, WA, where people are following the 0.5% rule.
Check out the Spokane market and pm if you have any questions.
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