Investing in Seattle area

[Nitin Singh]

I live in bay area CA now but lived in Seattle for 10 years earlier. Reading forums I get the idea that is best to buy first investment property local. CA is out of my reach but I can do Seattle. I still go to Seattle every month for work.

What do folks think of Seattle in terms of investing? Everything seems priced high right now. Its also a booming market. 

[Jake Alger]

Hi Nitin,

Investing local to where you’re living is something many people feel most comfortable with doing. It allows for them to keep a watchful eye on the property and makes them more available should any issues arise with the property.

Investing out of your locality and in Seattle being that you’re at least familiar with the area and frequently travel here, wouldn’t be a deal breaker in my opinion. Having either a good property manager or points of contact would be crucial.

In terms of what investing is like here, it depends on your strategy. If you’re looking for a rental property I would say look outside of Seattle city limits. The rules and regulations pertaining to landlords and tenants are very difficult to adhere to for most people’s strategies and liking. Also, it depends on what type of property and price range you’d be looking into. There’s great areas outside of the city that have plenty of room for growth and are still commutable for those working in and around the major cities.