Networking in Seattle

[Esteban Hermosillo]

Hello BPs,

I'm currently working as Engineer at Amazon and looking to get started investing in multifamily properties. Up to to this point I've stuck my heads in books, listening to podcasts and chiming in to live webinars.

I am based off of Seattle (living in Shoreline and work in downtown) and looking to network and learn from experts in the business. If anyone is interested sitting down for lunch/coffee or know of any local meetups please feel free to message me.

Best Regards,

Esteban

[Brian Hughes]

Hi Esteban-

I am a seattle computer nerd as well and I bought my first MF (a triplex) in south seattle in 2006.   I currently have 8 units (9th owner occ) in that triplex, a duplex (2009), and 4-plex (2014),  all in south seattle / burien areas.

Seattle is way overpriced and IMO due for some kind of correction right now ;  I don't see how things can continue to appreciate like this,  and at least within seattle itself many smaller MF properties are worth more for the dirt under them than the structure itself just for the redevelopment potential,  which is unfortunate at least from the perspective of an buy and hold investment viewpoint and availability of decent and comparatively affordable rental units in neighborhood-scale buildings.  (Small MF's on normal sized lots being torn down are generally replaced with townhouses that are sold off individually;  or they are building SEDU/aPodment beehives;  nobody seems to be adding or replacing 4-6 unit apartment structures with decent size units)   Also if you are looking inside seattle proper,  be aware of all the additional rental regulations in place there which I love to rant about.    Personally,  I've decided to avoid any more purchases within seattle itself,  though I'd like my next property,  whatever it ends up being,   to be as close in as possible.   I like renton and burien but I might end up farther afield (to the south) as well with my next purchase.

If you have any questions feel free to PM me.