All Forum Posts by: Sun Kim

If you are looking to buy in seattle, consider a house hack situation. If the home has an ADU (or two) you could live in one unit and rent the others out. There are places out there for less than $650K. you wouldn't cash flow occupying one unit, but I bet you would come close to offsetting your mortgage. My last sunday jog I went past two such houses that each have two units in Skyway. IIRC both are in the 400K's and have been on market for a few weeks and look to be in habitable/decent condition. Neighborhood is on outer fringe of seattle so not walkable to any amenities, but still good commute options to lots of places.

One thing to consider though- Seattle has very punitive/strict tenant protection laws - and given our recent city council elections which appear to have moved the council FARTHER left (if that was even possible...) expect it to just get worse. The avowed socialist councilmember we were all hoping would not get reelected did win on late mail in ballots, so they are going to be very emboldened now.

I am not too happy with Seattle counsels either. That said, where do you recommend I look for positive cash flow in Washington state? My wife and I already decided to rent a place in the heart of downtown for the convenience to my work and to enjoy city life. We are purely looking for rental properties with positive cash flow.

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Originally posted by @Jess Haas:

Hi Sun,

Welcome to BP! Do you rent currently? I would consider getting an FHA loan on a personal residence house hack that and use the rest of your cash to invest in Seattle or out of state. What neighborhoods are you looking in?

I am just beginning my search and I was originally looking in Seattle/Bellevue area for appreciation opportunities. I quickly realized that with my income and cash saved up, I can't afford anything. And even if I buy something of $600-$700k range, the cash flow would be a huge negative.

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Hello! I am from the greater Seattle area looking to get started with REI.

I am in my early 30s and recently married. I have never bought a property before, but have been saving money to buy one. I have saved about $100k, and I almost pulled a trigger on a 650k single family home in Seattle area which would have had negative cash flow.

After some digging, I found this website and have been reading books and watching podcasts. I have been playing with the idea of investing out of the state but I might do just a bit more research until I feel more comfortable.

I would love to meet other members in person and hopefully find a good mentor.

Thanks in advance and I look forward to being a part of the community!

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Hello! I am from the greater Seattle area looking to get started with REI.

I would love to meet other members in person and hopefully find a good mentor.

Thanks in advance and I look forward to being a part of the community!

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All Forum Posts by: Sun Kim

Sun Kim has started 2 posts and replied 4 times.

Post: Hello from Seattle -- Looking to get started!

Post: Hello from Seattle -- Looking to get started!

Post: Hello from Seattle -- Looking to get started!

Post: Hello from Seattle -- Looking to get started!