BRRRR with VA Loan in Tacoma or Spokane

[Stefan Winkler]

Long time podcast listener. Recent action-taker. ;)

My spouse and I recently agreed to take a more strategic approach to purchasing a home than just buying in the best school district in the Seattle area.

We've agreed to use my VA Loan to purchase a 2+ unit property in one of the following Washington cities:

- Renton/South Seattle

- Tacoma

- Olympia

- Spokane

We’d like to stay under $550k and do not intend on putting any money down.

Spokane offers the most inventory at a comparatively cheap rate. But, I’m concerned with its long-term, economic resiliency. The other metro-areas are more economically diverse and show signs of economic/population growth.

As new investors with the ability to relocate virtually anywhere in the west, how should we think about the evaluation of each market for BRRRR of multi-family properties?

Thank you so much for any insights and wisdom! :)

[John Ala]

As far as growth is concerned Spokane is a great market. I would not invest in Seattle. I base this on political climate and projected industry expansion/contraction. Predicting the future is tough. My thoughts are that you can make money in any market, it is just harder in a stagnant or contracting one.