I am new here and would like to gauge some opinion on the market over Eastside (Bellevue, Redmond, Kirkland, Issaquah). I recently looked at some SFH and the pricing vs. rental income just doesn't support positive cash flow for BRRRR unless you are willing to let $100K sitting there (in order to lower mortgage payment from cash-out refin).
One of my friends got out, sold her rental in Newport Hills and made some money. She said she is not looking to go back in.
Are we in saturation point now in Eastside (not sure about Seattle or other cities down South)? I haven't looked into Tacoma area yet as it's an hour drive for me and I'd like to stay near my rental properties.
I have cash sitting aside now and not a way to get in!
@Hawk Phil - My wife and I have had success with BRRRRs in Tacoma. BRRRR is great for acquiring properties, and building equity in your portfolio, but as you allude to, the refi often significantly reduces your cashflow which is why it is challenging to do in the Bellevue, Renton, etc. You have to get creative.
Would be happy to chat with you whenever you are ready to get started.