New member: Brian in Seattle

[Brian Hughes]

Hi-

I'm Brian and I'm located in Seattle.   I'm not new to RE investing but I'm surely small potatoes compared to some people here,  I have a total of 8 rental units in 3 properties;   a triplex, duplex, and 4-plex.   I live in the 9th unit.   The properties are all located in south Seattle region;  half are in Seattle proper and the other half in nearby suburbs.   I started out in 2000 with a fixer house which I lived in and improved over the course of my ownership,  and then sold it in 2006 to buy the triplex.    I purchased the duplex in 2009 and the 4-plex in 2014.   I managed the rentals myself up until early this year when I hired a property management firm in order to get some free time back, have some backup so I can go on vacations again,  and in response to the hostile political environment towards landlords in seattle.

My long term plan with REI is to get to a large enough door count such that with sufficient equity the net cash flow is enough to live on comfortably (which I would define as matching my current gross software engineer's salary). I think this is achievable either buy continuing to collect 3-4 unit properties, or in a trade-up to a larger property.

I'm pretty skilled at building maintenance and improvements, and between my own experience and the property manager I've got the business of running the rental properties dialed in fairly well.    My main interest in this forum as I slowly transition from cubicle dweller to independent investor is to build up my network and contacts and perhaps eventually find the next opportunity.

Other than RE I'm a computer nerd for my day job, other interests include building electric vehicles, electric vehicle advocacy, bicycling, outdoorsy stuff, and vintage land rovers.  

This looks like a very extensive and well run site.   I hope to learn a lot.  Thanks!

[Nghi Le]

Welcome @Brian Hughes! I'm a fellow software guy myself living in Burien / White Center.  I'm looking to replace my income as well, but do some active investments (i.e. flipping) with some lending on the side.

9 units in Seattle is no small task with how much things cost here.  You're doing pretty well!

Try looking up to 2 hours outside of Seattle.  You'll get better cash flow and less tenant-friendly laws.