Would Love Some Advice for Starting Out

[Audrey Sommer]

Hi everyone,

My husband and I are just starting out in the real estate investing game. We live in the greater Seattle area, WA, and just got pre-approved for a loan. Right now, we rent a 3-bed, 2-bath house for $1300/month in a park. It's a pretty good deal in our minds, and we are inclined to stay there because rent is so cheap. For a long time, we were saving for a house in Washington and would have ended up buying a duplex and house hack. However, because of this rent deal, we don't see a reason to leave. So, we've shifted gears for our real estate investing strategy to just purchasing a long-term rental.

After joining this group and learning a lot, and given the housing prices in the Greater Seattle area, the lower rent-to-price ratios, bad landlord-tenant laws, and the astronomical prices, we are seriously considering investing out of state. Given our newbie status, do you think it makes sense for us to invest out of state to begin?

When crunching the numbers, it seems to make more sense for our situation every time. However, if we did invest out of state, it would go against a lot of beginner best practices.

Thanks! Looking for some advice from seasoned investors.