I'm currently living in Seoul, South Korea, and I will be visiting family in Seattle (Queen Anne) next month. In the near future, I plan on returning to the States and may move to the Seattle area.
If anyone is interested in meeting up and talking about the Seattle Real Estate market, let me know! I would love to actually visit some up and coming neighborhoods and some houses on the market if possible.
I currently own a rental property in Jacksonville, FL (thanks to BP!), and I hope to grow my portfolio in different areas of the world. I'm definitely still a newbie and have a lot more to learn. I look forward to connecting with you. : )
Welcome to BP, @Benjamin Hauser ! See you around.
I'm brand new here too. Welcome.
I'm in Jacksonville, and I'm just curious how you got the home in Jax from such a distance.
You buy it sight unseen?
I'd be curious as well - as I too am in JAX.
What a perfect time of the year to visit the Northwest! Me and my significant other can definitely show you around some Seattle neighborhoods and visit a few homes on the market during your stay. PM me and lets set something up!
@Rey Orinion Thanks!
@Kevin and Lance: I have really awesome partners who live in Jacksonville. They already had real estate investing experience and were willing to work with me from abroad. I met them through BP, and they even visited me in S. Korea!
The Seattle market is tough and expensive! I'm sure you already know this but it's hard to find great deals there and the entry point is much higher than Jacksonville - like 3-4 times more.
Jacksonville has a properties to flip as well as better cash flow because the properties are priced so much lower.
I wish you luck in Seattle and if you are ever coming to Jacksonville look me up and I'll meet with you and discuss the market here. I am buying 4-6 properties per month.
I totally agree with you! Thanks for reaching out and I hope to meet up someday in Jax!
Awesome to hear you are doing so well!
If you find any deals you would like to wholesale for a buy and hold (SFR or MFR), or a flip, please PM me. I prefer deals in the Murray Hill/Riverside areas if possible.
As already mentioned, seattle market is tough and expensive and it doesn't look like it's slowing down anytime soon. 3-4 bids on any single family home that's move in ready has been the standard for the last 2 years. These offers are coming in within 24 hours of the house coming on the market!
Unless your planning to find off market deals and really work at it, I would suggest getting out of seattle to find deals. Out of king county has actually been my preference, I focus on snohomish county. We are north of Seattle and have many neighborhoods that have been expanding for years. Nicer homes in great neighborhoods can be found for a fraction of Seattle home prices.
Feel free to shoot me a message and ask away with any questions you might have on the neighborhoods up here. I've lived here my whole life and am pretty familiar with snohomish county.
Good luck in your search!
It's definitely slim pickings in Seattle for sfr though it is different for mfh. Rents in some areas like capital hill, Queen Anne, central dist have seen ~10% increases yoy for the past 2-3 years. Most mfh buys are buy and hold appreciation plays.
Thanks for the info! I've actually being following a lot of properties in King and Snohomish counties. I particularly like Shoreline since it has some really good schools in the area. Thanks for willing to answer some questions. I'll be in touch soon!
For MFRs, are you syndicating deals or approaching local banks for commercial loans? Ideally if I moved back, I would like to buy a MFR, live in one unit and rent out the rest. Thanks a lot for the info! I appreciate it.
Hi Benjamin - They were acquired via loans from local banks.
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