New Member Intro - Seattle area
Hello Everyone. I have been interesting in getting into real estate since I was 12 years old working for a property management company cutting vacant property lawns in Monroe, Louisiana. Since then, I spent about ten years in the military and started a decent paying career in the Seattle tech industry. I am currently offloading a condo that was purchased four years ago with the hopes of re-investing the winnings on a small multi-family home in the Seattle or Kitsap county, WA area. I have the goal of 50 cash flowing units in the next 10 years. I intend to make 2020 the year of action for getting into real estate. I have been lurking on bigger pockets for a month or two now and am finally getting around to this new member post and exploring more of the useful content and tools here.
-Steven
Most Popular Reply
Welcome to BP. The forums are a great resource. I'd also start getting into the podcasts and start talking with other investors in the area to get an idea of what you can expect for Seattle and Kitsap County.
Your goal is quite lofty, 50 units in 10 years. That would mean 5 units a year(in a hot market). Do you plan to continue your tech job to dive into real estate? Do you plan to BRRRR or just invest in turnkey multi-families with lower cap rates? Speaking of cap rates, what kind of cap rates are you looking for? I guess the question I'm getting at is how did you arrive at 50 units and why 10 years?
My husband Michael and I have been investing in the South Seattle area. Right now our goal is for 2 buy and hold flips a year until 2022. We determined that it was about the pace we do our renovations and would give us about the appropriate cash flow to replace our salary if we worked conventional 9-5's.
If you have questions about investing in Seattle or want to come check out one of our current projects let me know.