New Member Intro – wannabe Multi-Family Buy-and-Holder in Spokane

[Rebecca C.]

Hello BP Community! This is the first social media forum I have ever posted on (I know, rare in these days and age – and I can’t even claim age or remote location as an excuse), but I have come to appreciate this community after following it for a little while and decided to give it a go.

Currently I am what one may call a “pre-investor,” meaning that I have my business plan and criteria for a property largely in place, have cash set aside, and am in the process of solidifying the business structure and identifying deals.

My spouse and I have identified that we are going to be buy-and-hold investors for multi-family properties in the Spokane area. Slight hiccup is we live in Silicon Valley, so of course we will have to learn how to invest long-distance. We chose the Spokane area for several reasons: we will be relocating to the area post- early retirement to be closer to where I grew up thus it is an area where we could eventually have more of a hands-on approach; rental occupancy is good and multi-families are generally within our price range; Spoke is a hub for the surrounding communities and will continue to be so; and I don’t think I need to really mention why we are not looking for properties in the San Francisco Bay area.

I look forward to being part of the Bigger Pockets community, learning to be a better investor, and getting to know others here!

[Rebecca C.]

@Steve Vaughan - Thank you for the welcome, and I'm glad to hear that I hopefully picked a good market!  You are only the second person I have ever contacted from Wenatchee, but I have a friend who grew up there about 50 years ago and loves telling stories from there. 

@David Clinton III - I really appreciate the offer for the local contacts and grabbing lunch.  If things work out well, I'll have my company and business plan blessed by an attorney and CPA by the end of the year and I may reach out to you with my criteria list and see if there is anything mutually beneficial for us.

@Leslie Pappas - Thank you for the welcome and encouragement, as well as for the advice regarding the passive investments.  For many people I know that they are an excellent option, but just my personal preferences I want to move towards owning a company where I have managerial control.  I looked into your book "Cashing in Tax Free," which as you probably know seems to get excellent reviews.  In the future DSTs are definitely something I'll think about keeping in my back pocket, so I may be contacting you a few years down the road.