Investment property in Seattle and around?

Question

Hi! I am looking for investing in a rental property around Seattle. I am fine with Renton to Everett. With recent pandemic effects, I hear rental property in Seattle and areas are pretty vacant. Kindly provide me some tips on good location/neighborhood to explore. My max budget is 700k. I have some wiggle room if the property is really worth it. Not preferring codos or town homes that milks HOA (> $150).

Sherief Elbassuoni · Answer

@Matt Smith, it depends on your criteria. Stuff like:

If you have a full time job, how far from work are you willing to live?

Are you willing to house hack, or you want a small multi-family, or just a primary residence?

Do you have a minimum number of cash flow in mind?

.................

Daniel Alhadeff · Answer

Good luck @Matt Smith!  I would recommend West Seattle.  When the bridge gets fixed next year, the allure will return to that amazing neighborhood.  Burien is also good and you should be able to find something in your price range. let me know if you need any help with managing your future rental / rentals.

Thanks!

Daniel Alhadeff

A6 Urban Properties, LLC

David Scharler · Answer

https://www.soundmultifamily.c...

Chelsea at Sound Realty Group is very knowledgeable.

Megan Shay · Answer

@Matt Smith $500-750k goes a long way in Kitsap County! I live in Poulsbo. You can get a nice, ~2,000 sf home $450-550k. Strong tenant base w/ the Bangor submarine base here. Also, Kingston has the fast ferry to Seattle and car ferry to Edmonds.

Louis Chan · Answer

@Matt Smith

700k from Renton to Everett are mostly SFRs. Small 2-4 units are possible in Renton or Everett. What are your requirements as far as cash flow or are you just buying for appreciation? Are you looking to buy and rehab as well or just for turnkey rentals?

Brie Groves · Answer

@Matt Smith

Hi Matt,

I’m a Realtor in Seattle and the surrounding areas and would be happy to help you identify the best areas to maximize your investment. It’s a very competitive market here right now so I’d need to understand your financing and your goals! Please feel free to reach out if you would like to talk about it in more depth!

Brie Groves, Lake & Co. Real Estate

John Barrett · Answer

@Matt Smith There are a lot of great areas surrounding Seattle that are great for rentals.  I would suggest using a site like citydata to figure out which areas meet your desired investment criteria.  Additionally, I would line up your financing so you know what your max budget is (you don't have to spend it all) and then look at what different types of properties you could purchase in the areas you have chosen.  It's a bit surprising how far your budget will or will not go depending on what areas you are looking at.  Finally, I would network with some agents and brokers who can help you locate the best deal based on the information you have figured out above.

Hope this helps.

John

Investment property in Seattle and around?

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