Starting Out in Seattle

[Corban Anderson]

Hey Team,

I’ve been diving deep into real estate investing over the last couple of months, but feel pretty overwhelmed while looking in Seattle, WA. Anyone out there have much experience in single family, or multifamily properties in Seattle?

Have folks from Seattle invested in properties out of state?

I’d love to jump on a call and learn more if someone is willing to help and share their story!

Thanks,

Corban

[Brian Hughes]

Seattle is also at the forefront of 'progressive' policies around renter/tenant protections.   These invariably are designed to shift risk, expense, responsibility, bureaucratic hoops, and blame to the landlord/owner.   Don't invest in seattle unless you have reviewed all of this and are willing to work within it and any other progressive goal for housing policy, since pretty much everything proposed here has eventually been adopted.   For example,  while theoretically temporary right now nobody can evict a tenant for nonpayment or behavior in violation of rental agreement, unless it presents an immediate health and safety risk,  period.    So right now if you have a renter in seattle and they either cannot or will not pay rent,  or they decide to sell all your apartment appliances and fixtures on craigslist,  you have zero legal recourse until late this year at the earliest.  In the meantime you are still expected to meet all your responsibilities as a landlord.

This is one example of MANY.  

That said,  other municipalities in the region while perhaps still more tenant friendly than say much of the midwest/south might be are still much more balanced overall,  and might be worth focusing on.   That's my plan anyway.

Good luck.