Short-Term Vacation Rentals in Washington

Washington Real Estate Q&A Discussion Forum
5yFollow

Short-Term Vacation Rentals in Washington

Damian P.
Bellevue, WA · Member since 2019 · 15 posts · 11 votes

Hello BP Washingtonians, 

I'm looking to invest in a vacation rental this year around Western Washington. Will short-term rent it out, and plan to also use it personally a handful of times a year with family of 3 and a dog. 

Right now our sites are set on Glacier, WA (Mount Baker) for reasonable priced homes, and potentially Chelan, WA where the home prices are likely to eliminate this option for the time being. You can get a great cabin house in Glacier for around $400,000 - $500,000; in Chelan, not so much and you are looking at $600,000 - $1,000,000. 

Anybody have experience with STR in Washington? Any experience in Glacier or Chelan? I'm based in Maple Valley, WA and would like to keep within a 3 hour drive or less.

Any other good spots I might be missing? Thinking possibly also Cle Elum area. 

Thanks! 

Damian




3Reply
54 views

Most Popular Reply

Michael HaasBusiness Member
Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes
5y

@Damian P. we own 3 short term rentals in King County, and 1 in Homer, Alaska.

I'll echo what has been said about Chelan - the new commissioner is more supportive of STR's, but you'd best wait for the official regulations to be signed into law before making a purchase.

Cabin inventory is extremely tight, and with the HUGE interest in STR's this is one of the few parts of my business I don't like sharing publicly on Bigger Pockets. Feel free to PM me if you'd like to talk about what's working for us 1 on 1 though.


Cheers!

[email protected]408-439-7873
HouseHack Seattle | Michael Haas & Team572 Reviews
WebsiteView Page
10Reply
See this reply in the discussion

10 Replies

Jump to latestLatest
  • Eric Kouvolo
    Specialist · Bellingham, WA · Member since 2016 · 13 posts · 11 votes
    5y

    Hi Damian. I have a few STR in Glacier on Airbnb. Send me a PM.

    2Reply
  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    5y

    Seems like Chelan county is putting the kibosh on the whole STR thing.

    Whichever county / city you choose, gauge rules,  regs and sentiment well as part of your DD. 

    4Reply
  • Jeff Dzado
    Port Orchard, WA · Member since 2017 · 44 posts · 31 votes
    5y

    Following. I am also interested in STRs, but had no success with my search previously (I really couldn't find anything I liked that would cash-flow conservatively).

    3Reply
  • Dave Skow
    Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
    5y

    Damian - check out this article from Dec regarding Chelan and STR.....if you do not need financing for what you plan to buy - great ....if you need financing - make sure to get pre approved before beginning to property search so that you will be ready when / if you locate a property .......fyi - many lenders are hesitant to make loans to str properties

    1Reply
  • William Beck
    Realtor · Branson, MO · Member since 2018 · 272 posts · 283 votes
    5y

    Chelan - yes. Cle Elum - yes. Glacier, maybe?

    Also, Lake Wenatchee area. Gold Bar/Skyhomish. 

    Packwood south of Ranier is interesting.

    2Reply
  • Carl PolsonPro Member
    Investor · Wenatchee, WA · Member since 2018 · 7 posts · 4 votes
    5y

    I echo what @Steve Vaughan said, Chelan County seems to be very focused on either regulating or eliminating Short Term Rentals in the county. While that might not ever happen, I wouldn't necessarily bank on finding a house for the sole purpose of STR. https://www.co.chelan.wa.us/co...

    3Reply
  • Amit G.
    Member since 2018 · 2 posts · 3 votes
    5y

    @Damian P. I'm from Seattle and in the same boat. Apparently, everyone around here has the same idea - something less than 3 hrs out that would be cashflow positive. Chelan county is under moratorium right now which may get extended. Most likely STR laws will be decided in the next couple of months. Other counties are tightening the laws as well. I have read the draft proposed by Chelan county and it's brutal if it gets passed. In WA, at such elevated prices, if you decide to take a mortgage and have a property manager it would be difficult for most locations to cashflow positive. Would love to learn from others who recently got into STR in WA and it's working out well for them.

    We're also exploring 3-4 hrs south in Oregon to see if there is some potential over there.

    3Reply
  • Sherief Elbassuoni
    Realtor · Bellevue, WA · Member since 2019 · 882 posts · 1k+ votes
    5y

    @Damian P., besides what was proposed by others, I also like Bainbridge Island, Port Angeles, and Bellingham. Their Airbnb regulations are not so tight on Airbnb compared to other locations, and they are either on/close by lakes/beaches

    6Reply
  • Megan Shay
    Real Estate Broker · Poulsbo, WA · Member since 2018 · 121 posts · 66 votes
    5y

    Tough to find something on BI with the higher pricepoint, unless you bump it way up. However, surrounding areas in Kitsap like Poulsbo, Kingston, Hansville, Indianola...those may work. Just so tough to find inventory right now. Lots of people looking for something small and cute. Just like what would work great for STR. Good luck!

    1Reply
  • Michael HaasBusiness Member
    Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes
    5y

    @Damian P. we own 3 short term rentals in King County, and 1 in Homer, Alaska.

    I'll echo what has been said about Chelan - the new commissioner is more supportive of STR's, but you'd best wait for the official regulations to be signed into law before making a purchase.

    Cabin inventory is extremely tight, and with the HUGE interest in STR's this is one of the few parts of my business I don't like sharing publicly on Bigger Pockets. Feel free to PM me if you'd like to talk about what's working for us 1 on 1 though.


    Cheers!

    [email protected]408-439-7873
    HouseHack Seattle | Michael Haas & Team572 Reviews
    WebsiteView Page
    10Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free