Real estate investment in Seattle area

Amazon
squidman

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squidman
Dec 12, 2021 21 Comments

I’m considering buying an investment house in the greater Seattle area under 1M for rental or Airbnb. Need advice on a few questions.

1. Condo or single family or multi-family, which is better
2. Which are the good areas to invest? Thinking about Bothell, kenmore, UW area.
3. Is it a good time to buy investment house? Shall I wait?

TC: 300k#investments

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TOP 21 Comments
  • Google
    picogod

    Go to company page Google

    picogod
    INAL or a fiduciary. My personal opinions only:
    1. Condo > Single family > multi family
    2. Bothell > Madrona/Roanoke > UW > Kenmore
    3. I'd wait a year or two tbh. The market is too hot to be sustainable. If you have cash, invest in other ways and come back to buy when things cool down a bit.
    Dec 12, 2021 3
    • Google
      picogod

      Go to company page Google

      picogod
      Haha. Yeah. Stocks are crazy right now. ETFs seem safer. But with the market being what it is, either buy strong stocks and forget about it for 3+ years, or just enjoy life and don't stress about squeezing the last penny out of the market.
      Dec 12, 2021
    • Why’s kenmore rated least here ?
      Feb 19
  • Oracle
    homewfh

    Go to company page Oracle

    homewfh
    Depends on a lot of factors.

    Location.
    Risk tolerance.
    How much time do you have to deal with a rental?
    How long you plan to hold it?
    No one has a magic wand to tell you if you should buy or not.

    I own rentals and think it’s a good investment but also decent amount of work.

    Feel free to DM.
    Dec 12, 2021 1
  • Google
    YWsa56

    Go to company page Google

    YWsa56
    Are you considering Renton? Feels value compared to some of the other areas.
    Dec 13, 2021 2
  • Grab / IT
    conveyor

    Go to company page Grab IT

    conveyor
    I’ve been looking and haven’t seen any good deals.

    Imho unless you got kids, spend your time in your career or enjoying life, not being stressed about fixing the toilet or how much ROI you can get.
    Dec 12, 2021 2
    • Amazon
      squidman

      Go to company page Amazon

      squidman
      OP
      Would you mind sharing where are you looking?
      Dec 12, 2021
    • Grab / IT
      conveyor

      Go to company page Grab IT

      conveyor
      My basic premise is that supply and demand are driving the housing crisis. I should avoid areas where they increase supply.

      With that assumption, I’m avoiding areas where they build new town homes. The buildings in those areas tends to be either 100yrs old or a townhouse (which appreciates slower). One could argue that the townhomes require detached properties to be destroyed (reducing supply of detached), but I don’t know.

      Also, any older / unlivable homes are priced to demo and put 6 town homes on the land. This basically means a 110yo house that needs $100k of renovations costs $1m, bc if you tear it down and build town homes, you’ll sell each for $950k.

      So I’ve been looking east side: Redmond, Bellevue, Kirkland, etc. But nothing has jumped out to me as an easy profit. Rent still lags mortgages. Property values are rapidly increasing, but the 10% transaction fee, taxes, interest, and insurance eat up most profit.
      Dec 13, 2021
  • Amazon
    ilUF68

    Go to company page Amazon

    ilUF68
    Seattle market is insane…good luck finding something for 1M!
    Dec 16, 2021 0