Investing in the Northwest Corner of Washington

10 Replies

Hi there!

My name is Dane Larsen and I'm from a town outside of Bellingham in the northwest corner of Washington State. My primary personal goal is to build a portfolio of ten long term rentals, allowing me to take more calculated risks in my business. I am currently in the search for a home that would allow me to house hack for a year. I'm currently using my direct mailing system to reach out to a variety of local owners. Also, I am constantly reaching out to people in the industry up here in Whatcom County. Lastly, I scan the MLS daily and analyze potential deals that fit my criteria.

I hope to use the systems that I’ve developed to help bring deals in an appreciating market to those that are outside the local area. If I can be the investor on the ground that helps provide a deal to benefit someone that isn’t familiar with the market, then I’d consider myself a happy man. Feel free to message me about my market at any time. Hopefully one day, I will be able to do business with you to diversify your portfolio in my local area! 

@Dane Larsen my daughter is up there going to Western Washington University. You are smart to invest in that market. I can say that the college housing market is a profitable niche. Please reach out if I can ever be of assistance.

@Dane Larsen

Ahh Bellingham!!! The dreamland. My wife and I talk about moving up there all the time. I am huge into mountain biking and Bellingham has great biking right in town and within a few hours are a handful of other world class biking hours. Such a great place. I would love to own property up there. 
Unfortunately, like most of Washington State it has just gotten too expensive up there. There are some more affordable surrounding areas though. Cool spot man. I’m jealous. 

Love the idea! Surrounding areas of Bellingham can have good opportunity as well. Take Lynden for example. I've run into a few nice looking deals there. Sounds like you got it all planned out but feel free to reach out should you need something. If you find some multi family that doesn't work for you, I'd love to know about it for either myself or I have a good amount of investor clients looking. 

@Dane Larsen

Hi Dane! Glad to see another local investor. People find it hard to believe, but there is so much potential in the area.

Shoot me a message if you want to connect or talk shop sometime.

@Kim Martin

Hi Kim, WWU is an excellent investment opportunity. There are so many possible options here in Whatcom County, it is tough having to choose one investment strategy. I will be sure to reach out if anything comes up, thank you!

@Justin Frank

It truly is a beautiful area! So many outdoor activity options. The prices certainly are higher, but as you know, like in any market there are always deals to be found. It's those that put in the work will uncover those treasures.  

@Diskin Young

Hi Diskin! I hope Colton and the family are well. I used to live out at Sandy Point and still have family that does. I have considered the other surrounding markets, but I think for my first one it would be best if I stick to a market that I know best in Ferndale. Then, after one is under my belt I'd love to look into both Lynden and Blaine. I will keep you in the loop for the multi-family. Are there any local meetups? Both Hunter Crim and I have this accountability partnership and we have been trying to find a group. I'll be in touch!

I have fond memories of canoeing on Lake Terrell.  I lived in Bellingham many, many moons ago and bought a house in Sumas.  Wish I still owned it!  I can't believe the prices up there now.  Loved everything about living up there - except the weather lol.  Best of luck to you!

Hey Dane! Sounds like a solid plan, I may reach out in the somewhat distant future once my portfolio is more established and I can expand, but student housing definitely seems like a great market to get into. My older brother is at WWU and rents one of the four rooms in his student housing apartment. Each student has their own independent lease and pays a flat rate each month. Seems like a great way to avoid vacancy, but I imagine turnover is more frequent! Let me know if you ever head further down south (like Snohomish county) and need some intel on the area. I'm an agent but my goal is to work with investors and learn how to build my portfolio as well. Anyways, good luck!

@Zachary Schnautz

The college housing can be a profitable niche, just like any other strategy if the correct systems are in place. Personally, I won't be getting into those markets, since the turnover rate can restrict both financial and time wealth. Yet, there certainly are many people that have made it profitable!