Seattle House Hacking: Seeking Advice and Agent

Rental Property Investor · Missoula, MT · Member since 2016 · 13 posts · 9 votes

Hi everyone! I've been floating in the background for years, but am finally ready to start my real estate investment journey. I currently rent with five amazing housemates within a single family house in South Seattle, and want to recreate that model in a house that I own through House Hacking.

I'm looking for a Real Estate Agent and potentially investors (currently figuring out what friend/family support I can get.) I'm looking for a 3+ bedroom house in West/Central/South Seattle. I

I'm also an architect and pretty handy, so I am open to finding a house that can benefit from some TLC.

Please reach out with any advice, cautions, words of wisdom, or resources to share! I'm hoping to become a PRO member here shortly.

Cheers!

Barron

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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

@Barron Peper - Congrats on getting started! All of our 5 Seattle properties are in the West/Central/South Seattle triangle you mentioned, and we've found those areas to be extremely well suited for a house hack. Its a great strategy and it got us our first 3 properties, after which we were able to scale more traditionally to where we are today.

My two cents: Don't buy a 3 bed 2 bath unless there's an opportunity to add bedrooms through finishing a basement, converting a garage, or an attic. 3-2s are the most common and popular layout for families, and they sell at a premium. As a house hacker you should exclusively be looking for 5-2s or larger- in my experience, nothing else in Seattle is going to cashflow like you need it to.

We have two active rehab projects right now in the neighborhoods you mentioned, and both would have made incredible first house hacks. Sometimes it helps to see the bones of a good house hack property to really give you an idea of what you're looking for, so if you'd like to grab a cup of coffee to go and do a walkthrough of either of those properties with me I'd be happy to show you around. Cheers!

[email protected]408-439-7873

HouseHack Seattle | Michael Haas & Team572 Reviews

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Dave Skow
Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
6y
Barron – thanks for the post ..once you know the people that will be working with you on the project , and assuming you will need to finance the project …get pre approved to make sure the financing is viable …
0 Reply
Brian Hughes
Seattle, WA · Member since 2017 · 275 posts · 223 votes
6y
From my redfin feed. move fast...
https://www.redfin.com/WA/Seattle/5720-S-Hazel-St-98178/home/178612
0 Reply
Robert Freeborn
Real Estate Agent · Bellingham, WA · Member since 2017 · 427 posts · 182 votes
6y
@Barron Peper
It’s a tough market, but totally doable. I’m a little bit north of Seattle, but I’m happy to drive on down for the day to help you find the right place.
Shoot me a message and I’d be happy to answer any questions you have.
0 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
6y
@Barron Peper - Congrats on getting started! All of our 5 Seattle properties are in the West/Central/South Seattle triangle you mentioned, and we've found those areas to be extremely well suited for a house hack. Its a great strategy and it got us our first 3 properties, after which we were able to scale more traditionally to where we are today.
My two cents: Don't buy a 3 bed 2 bath unless there's an opportunity to add bedrooms through finishing a basement, converting a garage, or an attic. 3-2s are the most common and popular layout for families, and they sell at a premium. As a house hacker you should exclusively be looking for 5-2s or larger- in my experience, nothing else in Seattle is going to cashflow like you need it to.
We have two active rehab projects right now in the neighborhoods you mentioned, and both would have made incredible first house hacks. Sometimes it helps to see the bones of a good house hack property to really give you an idea of what you're looking for, so if you'd like to grab a cup of coffee to go and do a walkthrough of either of those properties with me I'd be happy to show you around. Cheers!
[email protected]408-439-7873
HouseHack Seattle | Michael Haas & Team572 Reviews
Website View Page
8 Reply
Barron Peper
OP
Rental Property Investor · Missoula, MT · Member since 2016 · 13 posts · 9 votes
6y
Originally posted by @Michael Haas:
@Barron Peper - Congrats on getting started! All of our 5 Seattle properties are in the West/Central/South Seattle triangle you mentioned, and we've found those areas to be extremely well suited for a house hack. Its a great strategy and it got us our first 3 properties, after which we were able to scale more traditionally to where we are today.
My two cents: Don't buy a 3 bed 2 bath unless there's an opportunity to add bedrooms through finishing a basement, converting a garage, or an attic. 3-2s are the most common and popular layout for families, and they sell at a premium. As a house hacker you should exclusively be looking for 5-2s or larger- in my experience, nothing else in Seattle is going to cashflow like you need it to.
We have two active rehab projects right now in the neighborhoods you mentioned, and both would have made incredible first house hacks. Sometimes it helps to see the bones of a good house hack property to really give you an idea of what you're looking for, so if you'd like to grab a cup of coffee to go and do a walkthrough of either of those properties with me I'd be happy to show you around. Cheers!

Hey Michael, thanks for the great input and opportunity to see some working examples! I'd love to grab coffee and see what you're working with - DM me and we'll link up soon. Cheers!

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Barron Peper
OP
Rental Property Investor · Missoula, MT · Member since 2016 · 13 posts · 9 votes
6y
Originally posted by @Robert Freeborn:
@Barron Peper
It’s a tough market, but totally doable. I’m a little bit north of Seattle, but I’m happy to drive on down for the day to help you find the right place.
Shoot me a message and I’d be happy to answer any questions you have.

Thanks for the reply, Robert! I'm getting some ducks in a row right now, but perhaps we can connect on the phone before making you drive down? We'll DM to coordinate. Cheers.

1 Reply
Barron Peper
OP
Rental Property Investor · Missoula, MT · Member since 2016 · 13 posts · 9 votes
6y
Originally posted by @Brian Hughes:
From my redfin feed. move fast...
https://www.redfin.com/WA/Seattle/5720-S-Hazel-St-98178/home/178612

Thanks Brian. I'm ready to move fast, but not that fast ;) I'm prioritizing gathering advice right now. Cheers.

1 Reply
Barron Peper
OP
Rental Property Investor · Missoula, MT · Member since 2016 · 13 posts · 9 votes
6y
Originally posted by @Dave Skow:
Barron – thanks for the post ..once you know the people that will be working with you on the project , and assuming you will need to finance the project …get pre approved to make sure the financing is viable …

Thanks Dave! I dropped into BECU (Credit Union) to inquire about financing options. Do you recommend checking out a major bank/other options before finalizing who to finance through? Any input is greatly appreciated! Cheers, Barron

1 Reply
Dave Skow
Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
6y
Barron - thanks for the reply .....I am a local lender ...if you need some assistance , feel free to call/ message or email me ....I would steer clear of the large national type lender and try working with a local lender that is accessible and that has flexibility
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