Planning for future Real Estate Investments

[Brooke Singler]

Hello!

I'm planning to move to the Seattle Area (probably Tacoma or Bremerton) next summer and would like to invest in a small multifamily property (either single family home with ADU or a duplex) soon after I move. Ideally I would house hack and self manage the property so I can develop my skills and network for future investment opportunities.

I'm currently saving funds and educating myself until I can make the transition to Washington.  

How would you all recommend I maintain momentum when I likely won't buy my first property for at least a year?

Thank you!

[James Dainard]

Quote from @Brooke Singler:

Hello!

I'm planning to move to the Seattle Area (probably Tacoma or Bremerton) next summer and would like to invest in a small multifamily property (either single family home with ADU or a duplex) soon after I move. Ideally I would house hack and self manage the property so I can develop my skills and network for future investment opportunities.

I'm currently saving funds and educating myself until I can make the transition to Washington.  

How would you all recommend I maintain momentum when I likely won't buy my first property for at least a year?

Thank you!

 Hey Brooke!

I'd recommend keeping an eye on the markets that you've identified. Both Tacoma and Bremerton are great places to find a house hack duplex.

As you work to get your financing in order you might consider widening your options. Washington has a ton of Down Payment Assistance options that might fit a property that works for you. That'd help you keep the cash you've saved up either for a renovation or for the next project.

Start interviewing agents! Contact the people on this forum and check in with our office to see what services people are offering and who's best suited to help you in your specific situation.

Start interviewing lenders! Again you can find a ton of people on BP and elsewhere. You want to make sure you have a couple options in case one falls through or can't finance the property you find.

Hope that helps, best of luck, and we'll see you in WA soon!