BRRRR on Eastside still makes sense any more?
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!
Thought?