All Forum Posts by: Adrian Chu

A lot of investors have been making money in Tacoma.  It is a hot real estate market now because prices are still relatively cheap.  Being from Seattle, and though I service Tacoma in my brokerage and mortgage business, I personally don't invest there, because I prefer to be closer to the properties I own.

To answer your questions:

What would you say is the Tacoma area's economic status?

Not very many super high paying jobs nearby.  Distance between Tacoma and Seattle is greater than between Oakland and SF.  It's growing but won't be like Oakland or SF.

Is the local RE market as hair-on-fire crazy as Greater Seattle?

Yes, lots of first time home buyers are flocking there for affordability reasons.  Market there is hotter than Greater Seattle.

I know Tacoma has some industrial areas...are the suburbs a better choice for investing?

As evidenced in Seattle, industrial areas are fine.  Ballard, Fremont, Georgetown, and South Park have become popular areas of Seattle.  Being close to industrial is not necessarily bad.  You may also want to consider other places that have mass transit planned.  Check out the "Sound Transit" website to map out the regional transit plans for Greater Seattle.  Plus, people like being close to the urban core - and to be able to walk to shops, restaurants, bars, etc - so I would recommend being close to walkable areas like Downtown Tacoma or different business districts in the area that offer the walkable vibe.  Furthermore, the north and western parts of Tacoma tend to have nice views or at least be near the high end view homes.

Any 'regional red flags' of which I should be aware?

If the Seattle area keeps growing, then no doubt, Tacoma will benefit. If the local economy shrinks here, then Tacoma may be the first to fall. Real estate generally follow a LIFO model - where the last to go up will be the first to fall. Most of the high paying jobs in the Seattle area are in Seattle or in the Eastside like Bellevue or Redmond - and not Tacoma. Though Tacoma is gentrifying and becoming a "hip" place to live, it is still quite a distance away from large-scale high-paying employers.

Best of luck!

If you are still around BP, there are many great communities in the Seattle area.

WA Real Estate Investing

Real Estate at Work meetup

Fixated on Real Estate

Seattle Investors Club

REAPS

and many others...

Best of luck!

If you are still around BP, there are many great communities in the Seattle area. 

WA Real Estate Investing

Real Estate at Work meetup

Fixated on Real Estate

Seattle Investors Club

REAPS

and many others...

Best of luck!

Hey Peter. This is an old post, but just wanted to see how things are going?

You can do 15% down for conventional.  

Check Zillow, Craigslist, and Rentometer.  

Have an attorney draft the docs.  Better safe than sorry.

A purchase & sale agreement will suffice.  Let me know how we can be helpful.

Hi Aiden, I am a real estate broker and investor/builder/developer.  Let's chat.

I recently saw them at the Fixated on Real Estate Big Bad *** Real Estate Expo.  I told the rep that I have a solo 401k already and was told it's nothing different.