Snohomish County REALTOR® and Brand RE Investor

[Debbie Welch]

*Brand New RE Investor - Hello! First post. :) My husband and I live in Lake Stevens and we've just started our real estate investing adventures last week. We had our offer on a studio condo in Everett accepted. We plan on using it for a mid-term business and healthcare professional furnished rental. It's central to both Prov campuses. $215k is how we're dipping our foot in the investing pool. We used $50k down from our home HELOC for a conventional investment loan. Unless something amazing shows itself before (would probably need creative financing at that point), our next step is to rent out our current home (about $1000 net/mo) and move to a fixer, possibly using our VA loan availability and stay for a year, renting after. Rinse and repeat. ;) Our plan is single and multi-family with a mix of mid- and long-term rentals. Short-term is also on our plate, close to the kids/grandkids in TX and wherever any of our other children move. This step for us was WAY outside our comfort zone, but we're here now and ready to go! Hoping to connect will local investors for some starter guidance and local area financing options. Thanks!!

[Sherief Elbassuoni]

@Debbie Welch, VA loans are amazing. For your first Studio/Condo deal, make sure to read the HOA CCR to make sure they are allowing Airbnb/VRBO!