Newbie looking to buy a vacation rental in WA

[Michael Molnar]

Hi there! I just found this site while researching how to get started in real estate investing. I'm not a total newbie, I guess, since I do own a rental house (I moved two years ago and since the market made it a great time to buy, but terrible to sell, I became a landlord).

So my wife and I are in the early stages of looking for a vacation property. We are also in talks with my BIL and SIL to go in on it with them (they also own a rental). We want something for personal use, but also intend to rent it out when we are not using it.

Being in the Seattle area, we have a huge array of options within a 4 hour drive. We could get something on the ocean beach or in a coastal town, along the Puget Sound or San Juan Islands, on a secluded lake, in a resort lake town, in the mountains, out in the woods, something in wine country, somewhere in sunny Eastern Washington. . . we could buy an existing home or a large piece of land and build a cabin (or three); the possibilities seem endless right now, which is causing my head to spin.

I am very much looking forward to starting on this journey and learning from, and contributing to this site.

-Michael