Clueless in Seattle :)

[Savitha Quadros]

Hello BPers - My name is Savitha. I am excited to join this community and to meet and learn from all of you!

My husband and I just sold our first home and are hoping to be smart with the little bit of profit we made on the sale. We are looking to channel our efforts into finding and closing on a good REI in the next 3-6 months. While Seattle and surrounding areas are where we are focused currently, we are open to other states as well.

Here are a couple of options we were thinking:

- Look at single family foreclosures, renovate/rehab/flip

- Multi-home rental opportunity

- And, dare I say, commercial?

I am hoping to get guidance and learn from this esteemed group of expert investors to help us get started on this journey.Thank you and Best regards.

[Billy Au-Yeung]

I would go for multi-home rental opportunity since it comes with cash flow and it is a more conservative approach.  Why would I say that? You have to know know your risks and watch out for the gotcha areas when you choose to buy from foreclosures.  Flip? The market is too hot now. The house is too expensive to start with so there is no room for you to make mistakes. Hopefully you know what you are in this area. Commercial? Huge apartment complex? office? When market is bad, your unit may leave vacant. Business can be shut down during economic crisis but people still need a place to live no matter what.  That's why I said muli home rental opportunity.  Your risk exposure is minimal otherwise you better have a good exit strategy for other plans. This is just 2 cents.