Would you buy in Seattle?

[Ricky Stafford]

Here's my situation: 24, recent MIS grad from East Carolina University. Solid GPA but around ~3.5.

I want to move to a city with tech opportunities and somewhere that is clearly growing. I don't want to waste my time renting because I'm already invested in property elsewhere and I just can't see wasting any money in rent at all, even if the market isn't prime for breaking even on cash flow.

I am considering buying a property in Seattle but I can't find anything that will cash flow. I guess that's why most people are not buying there. But, I would be investing in myself. I would use money I make from a (hopefully) good job to aggressively pay off the mortgage. The problem is I live literally completely across the country and I can't just go apply to jobs every other day.

My plan is to do short term vacation rentals on Airbnb to help cover costs while working full time to pay it off. I feel I could have something great there once it's paid off.

[Andrew Kniffin]

I agree with @Zach Schwarzmiller .  As someone who just moved to Seattle from Minnesota, I'm amazed at the difficulty in getting reasonable rental rates (versus purchase price).  Outside the Seattle area the numbers are more reasonable. 

Brandon Turner often is able to achieve the 2% rule, but he is ~2 hours SE of Seattle metro.