Puget Sound Market Changes

[James Dainard]

As the market is starting to settle, we're telling our clients to budget for extra carrying costs, and project profit margins based on the new normal.  In December I'm going to host a webinar about the current market state.  What are some of the BP community's thoughts about the Seattle market? What are some of your questions about it? 

[Jay Hinrichs]

Originally posted by @Michael Kistner:

@James Dainard

   Are you able to find deals that hit the 1-2% rule? If not, how far outside of Seattle do you have to go to find deals that do?

- Mike

not sure you can really find 1 to 2% rule in those areas.   IE a 300k property that rents for 6k.. 2% rule.

you can hit 1% rule out in the country..  IE Brandon Turner area were he lives.

and other rural washignton areas.  I just sold one of my last rentals for instance in Cathlamet and owner financed it.

70k for 800 rent.. and I carried the contract. with 10k down.