All Forum Posts by: Alex Chin

Sounds like you've got a plan and are charging full steam ahead with it. Luck to you!

I'm a small-time landlord with property in Tacoma. I like the area and will be looking to slowly build up my portfolio over the next 10-12 years.

In contrast to many on this site, I have a W-2 job that I really like and want to stay at, so REI is a side gig that I'll be working to supplement my income.

In the near term, I'm focusing on a BRRR of a 4-plex and making sure my ducks are in a row, don't want to be caught with my pants down on the refi.

I usually tell folks with property in Everett to give @Account Closed a holler. He has over 20 units in the area and might have recommendations to make in the area of property management.

Yep. Hopefully the new construction coming online will soak up some of the added housing pressure, but I'm not too hopeful.

I'll probably keep buying in Tacoma for the near future as I expect prices up and down the I-5 corridor to catch a bit of the spillover heat.

Hi @Cassie Sherie and welcome to the Seattle REI community!

Sounds like you have a very positive outlook on investing, that's a great asset to have and will serve you well as you grow.

Where are you looking to go from here? Sounds like you're brand new? If you are, I would generally recommend not even considering getting into any real estate deals for at least 6 months as you get to better understand your area of preference, and also learn your market.

Here's to success and hoping to see you at one of the meet-ups soon! @Kevin C. and @Troy Fisher host them for Seattle, the Eastside, and Tacoma.

Hey @Adam Pearson. I'm not an agent, but throwing in my 2cents, it would help anyone trying to answer your request if you would provide a bit more information. Seattle is a big region with a lot of nuances to the neighborhoods and if you are looking for a primary, that just makes things even trickier. Some basic stuff might be family size, home priorities (are you moving in a few years and going to hold it as a rental? need something with a short commute? proximity to a certain school?).

Good luck with your search, it's tough out there in the Puget Sound.

Hey @Kana Griffin! Welcome to the community. Sounds like the kind of investing you are interested in matches pretty well to what I'm aiming for myself.

I would advise you to maybe think twice before selling the Lynnwood house. The market continues to be red-hot and you could consider turning it into a rental for a nice monthly infusion of cash. If you were planning to sell and hold onto the money for a few years anyways, why not wait and start your landlording education in a very hands-on way?

@David M. - Hello and welcome to BiggerPockets! Seeing as you live in Ravensdale, you're pretty close to @Jami Morton, who hails from Black Diamond.

If you are interested in MFHs, I will say that you don't have to go all in with a larger asset to start. You could potentially begin with a small multifamily, a duplex, triplex, or 4-plex and amass a portfolio that will give you a better understanding of the mechanics and complexities that come with owning many units.

If you are looking for in-person meet-ups, keep an eye on the Networking tab (see below)

https://www.biggerpockets.com/forums/521-events-an...

@Kevin C. and @Troy Fisher regularly host meet-ups in the Seattle, Eastside, and Tacoma-Lakewood areas.

Hey @Aaron Sal. Welcome back to the site. If you're looking for information on home buying with low income, we'll need a little more information to make more concrete suggestions. For now, I would suggest looking into house-hacking if you haven't already.

Assuming you will owner-occupy the property, you can purchase a small multi-family building with an FHA Loan at 3.5% down and allow your renters to cover your mortgage. The same strategy could apply to a large, multi-bedroom house as well.

For more information on loan particulars and finding out if you qualify, I would start walking into banks and speaking with mortgage brokers.

For networking, keep an eye on the networking events tab 

(https://www.biggerpockets.com/forums/521-events-an...) @Kevin C. and @Troy Fisher run monthly meet-ups in Lakewood, Seattle, and the Eastside.

Cheers and good luck!

Hey @Chris Parker. You might want to contact @Account Closed, he has a portfolio or rentals in Everett and may be able to make a recommendation on management.

For what I look for hiring property management, one of the key things is communications. How long do they take to respond to communications that are urgent? Can they successfully prioritize messages and avoid making mountains out of molehills?

@Joe Bender - most wholesalers that I know do not work with a real estate agent, they have their buyer lists (a pretty easy thing to figure out in the Seattle area, anything that is remotely a good deal will get snapped up in a heartbeat) and just put out an email blast and first come, first served.