Looking for my first vacation rental in Washington

[David Chang]

Hey BP community!

I am thrilled to join this incredible forum of real estate enthusiasts and investors. My name is David, and my partner and I are on a journey to find our very first vacation rental property in Washington state.

We currently reside in North Seattle, and own a SFH (30 year mortgage @ 2.75%). We are looking for our vacation home that we can personally use a few times a year, and to rent out as a STR for the remaining times we're not there. Our investment horizon is longterm, and somewhat conservative as we're learning the ropes. Given today's interest rates, we're looking at paying > 50% down to minimize interest costs. Some areas that have peaked our interest include:

Packwood - Mount Rainier / Lax Regulations / Year Round, High Demand / 3 HR commute

Ashford - Mount Rainier / Year Round, High Demand / 2.5 HR commute

Goldbar - Stevens Pass / Hikes / Demand ? / 1.5 HR commute

Mason County (Brinnon/Shelton) -  Waterfront/Beach Cabins < 500k / Oyster Fishing / Seasonal Demand / 1.5 HR commute

Whidbey Island - ? / 1 HR commute

Port Angeles - Olympic National Forest / Year Round, High Demand / 3 HR commute

If you've ventured into the vacation rental market in Washington and have valuable insights to any of these areas or any general tips, I would be incredibly grateful for your input.

Looking forward to connecting with all of you!

[Sherief Elbassuoni]

@David Chang, I personally own STR and bought STRs for my clients.

You listed good options in here. We will need to run the numbers, check average occupancy rates, and for sure, double check the STR regulations since theyh keep changing