All Forum Posts by: Megan Shay

Even in Bremerton, prices will be $200k+ (closer to the mid-$200s) for something worth touching. The fast ferry helps with the commute time. You may also want to consider Kingston, though again, prices will be an issue. At least for now...

Good luck!

@Matthew Hintzke definitely talk with a few lenders. I have a couple I recommend, and recently talked with both of them about my refi. Happy to refer you, just PM me. My understanding on credit pulls is if you are doing a bunch within a certain timeframe, it only counts as one so wouldn't tank the credit score, but you should probably confirm/do some research. 

Finally, depending on where you work, maybe consider Kitsap County. We moved over to Poulsbo last year and love it here. I go to Seattle and the Eastside once/week or so. Ferry commute is quite nice. There are also the fast ferries from Kingston and Bremerton to downtown Seattle. Prices are WAY more affordable here, and it's quiet. 

But if you work in Redmond and can't work from home at least part of the week, it would be tough. If you ARE interested in learning more though, just ping me. Happy to share stats and knowledge. 

Good luck!

@Timothy Chi that makes sense. From your post, it looked like you're in Renton and she's in Seattle. ;-) In that case, it's simpler. I mean, there are still Washington laws to contend with, but yes, if you hire a manager it's their job to handle all that. It should also be easier to find a manager who will take it on if the property is not within the city limits. I do know a good manger who works on the Eastside. PM me if you'd like his info. He just doesn't work in Seattle, for all those above-mentioned reasons. 

Good luck! 

City of Seattle is definitely it's own beast when it comes to the rental laws. Second the advice to read the post @Ricardo R. referenced. I agree with all of it. We managed a bunch of Seattle properties a few years back and I'm avoiding the City now for several reasons. But, if it's best for you, go the management route. Just take your time and ask all those good questions. And choose someone you like, trust, respect, and want to work with!

I've done a lot of digging on modular & prefab. It really seems to make the most sense in areas where labor is hard to find, or tricky locations. Like, in the mountains, or the San Juan Islands. Otherwise, the costs of building pre-fab vs. stick seem to be pretty similar. That said, modular obviously goes in a LOT faster, and you don't have issues with stuff getting wet, sitting out, etc. I've been talking with Greenfab a lot, but there are several Seattle-area modular companies worth talking with. 

Good luck!

@Chris Blume, would you consider Silvedale? Not quite in that ~1 hr distance, but typically ~90 min w/o traffic. PM me if you'd like to know more about this one. 

All depends on the price point. Lower end, hot hot hot. $1-1.5M+, dropped like a rock last fall and still slow. Used to be, on Mercer Island (for example), anything with a decent lot and some sort of house on it would be at least $1M. Now, prices have slipped to ~$950k, and they'll sit if overpriced/too much work...and not a good enough lot to tear down/build. 

Kitsap (and Pierce) have been heating, up though. I live in Poulsbo. Prices are up 10% YoY, and expected to keep moving in that direction as more and more techies move to Seattle and the Eastside. 

Welcome, @Chris Blume! If you ever have any questions/interest in Kitsap investment properties, give me a shout. Prices are more achievable here than in the greater Seattle metro. :-) 

@Dave Skow , @Charlotte Casey$300k won't get much, but I've seen a few come and go. The lower price point will be far less rentable. Though perhaps land and an RV might be an option? I've had some friends go the VRBO route with something like that. Good luck!

Nice! I'm looking to do something similar in Seattle soon. I'd love to hear more about your experience. Perhaps we can meet up.