Everett Duplex - Feedback Needed

[Chris Cantrell]

Hello!

My goal is to build a real estate portfolio. My first goal is to purchase an owner-occupied duplex/tri/quad. I am having difficulty locating properties that pass the 50% rule. Honestly I feel a little jealous when I see different areas with much lower prices!

I have a few months to continue looking, however I this is my possible scenario: There are few options which I lose ~$100 per month per the 50% rule. Since this would be owner occupied, is this still acceptable? I would manage my own property etc.

I will be working in Mukilteo and wife will be at University of Washinton and we are looking at any place that is <40 minute travel time during rush hour.

Am I going about this the right way? A duplex makes a lot of sense to me, but the Puget Sound market sees quite high.

[Account Closed]

@Chris Cantrell

I invest in Everett, WA, right around the corner from Mukilteo. I own a pair of duplexes and a fourplex. You will be hardpressed to find 2-4plexes on the MLS that meet the 1% rule, let alone the 2% rule. However, this is much better than Seattle where properties hemorrhage money according to the 50% rule.

I would say that paying $100/mo mortgage sounds like a decent deal.