End of Real Restate Investing in WA?

[Jordan Radke]

I recently saw another BP member post about House Bill 2779 in Washington State. Sounds like they were planning to completely get out of the WA market due to the upcoming changes. It looks to me like HB 2779 is state wide rent control. What do you all think? If you are here, are you getting out? I'm. Just getting started, but thinking I really, absolutely need to look out of state for all my rentals now. Looking forward to discussion.

[Nik Moushon]

First off I'll say that no landlord is going to like this bill and it will make things harder for sure. But we should really not freak out like the rental market is just going to drop out from under everyone's feet. There is still going to be a huge demand for rentals and that means there needs to be a huge supply. Washington is only following what California and Oregon have done for a while now. I still see lots of people buying rentals in those states. I still see lots of new rental developments being built. Investors are still making money in those states. So just relax a little. 

I'm not saying we shouldnt fight the bill btw. Its a load of crap for sure. If it does pass (or at least part of it) it will make our lives more difficult for sure and that in turn will make other states seem more enticing to invest in for sure. I know I will still continue to invest in WA even if this passes. I will just have to be much more selective in what I invest in and where exactly. It also will make sure I diversify my investments in other states as well. Which is always a good thing. 

Laws and codes have always been ever-changing and always will be. Those that succeed the most are the ones that figure out how to work within those laws and to change with them not those that run away to find the easest possible money whenever there is a roadblock that they come across. If investing was easy everyone would do it.