Newbie based in Seattle!

Newbie based in Seattle!

Rental Property Investor · San Francisco, CA · Member since 2019 · 8 posts · 0 votes

Hey everyone!

My full name is Abraham but I go by Abe. I'm graduating from Cal Poly in June and moving to Seattle in September for work as a software engineer. I'm originally from San Jose, California but I'm excited to make the move to Seattle.

I've been learning the basics of real estate from podcasts and books over the past few months. My current experience is limited to analyzing a few deals but I'm ready to take action once I move to Seattle. My plan is to go to every legitimate BP meetup in Seattle that isn't during my work hours to immediately start building relationships.

Currently my real estate interests are in house hacking and long distance multi-family rental properties.

I see real estate as a long term commitment which is why I'm trying to start my journey as early as possible. My long-term goal is to match my current salary with my income from real estate. I'm intentionally vague by describing it as a "long-term" goal because I think its unrealistic to make a timeline without having done my first deal.

The first step in my mind is to find a partner. Although there are many reasons for this, the biggest value from a partnership that I see right now is accountability. I know the first steps will be the hardest and I want to force myself into a situation where I'm wholly committed. I'm a highly analytical numbers guy so I see my strengths being complemented by a partner focused on building key relationships.

I apologize in advance for the naive newbie intro -- I'm proud to get my first post out there and excited for what's to come!

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Investor · Seattle, WA · Member since 2016 · 23 posts · 1 vote
7y

Nice to meet you Abe! I’m also a transplant and have done well with house hacking with Airbnb to start out in seattle. Replace your living expenses is step one.

Let me know if you do consider Airbnb, me and my fiancé and I could give you some tips!

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  • Investor · Seattle, WA · Member since 2016 · 23 posts · 1 vote
    7y

    Nice to meet you Abe! I’m also a transplant and have done well with house hacking with Airbnb to start out in seattle. Replace your living expenses is step one.

    Let me know if you do consider Airbnb, me and my fiancé and I could give you some tips!

  • Real Estate Broker · Seattle, WA · Member since 2017 · 139 posts · 82 votes
    7y

    Welcome Abe!  The Seattle market is very sting for appreciation, and house hacking is a good way to be able to try to get some cash flow.  It sounds like you’ve got a realistic plan.  Just be patient and don’t let people disuade you from moving forward while making sure to analyze your decisions.  You’ll do great!

  • Real Estate Broker · Bellevue, WA · Member since 2017 · 172 posts · 107 votes
    7y

    Hi Abe,

    Welcome to BP! In a few months, I suppose a “Welcome to Seattle” will be in order!

    I too come from a background in software engineering. I’m also a numbers guy and analytical thinker and would argue most “techies” are. Since being an engineer I’ve turned full time into Real Estate in the Seattle area.

    You’re absolutely right in saying that real estate investing is a long-term commitment (if that’s what your strategy entails). ​Long term outlooks tend to be for those looking to build wealth that can be passed down from generation to generation. It also allows for financial freedom or early retirement.

    Your goals of matching your salary with RE income is awesome. Equally, attending local meetups and networking is exactly what you should do. Building up a network of professionals and people who have “been there, done that” will only help. BP is a great community to start with and will allow you to continue building your knowledge and resources.

  • Rental Property Investor · San Francisco, CA · Member since 2019 · 8 posts · 0 votes
    7y

    @Josh Setterbo Nice to meet you Josh! I am considering Airbnb and would really appreciate any advice you and your fiancé have regarding the process. Please reach out when you get the chance!

  • Rental Property Investor · San Francisco, CA · Member since 2019 · 8 posts · 0 votes
    7y

    @Jared Boundy Thanks for the encouraging words! I noticed from your profile that you're also looking for out of state investment opportunities. I'd be interested in following up with you later on your findings as I'm currently trying to narrow down my focus to one or two cities outside of Washington.

  • Rental Property Investor · San Francisco, CA · Member since 2019 · 8 posts · 0 votes
    7y

    @Jake Alger Thanks for the warm welcome! I'm impressed by your transition from software engineering to full time RE and I'm very curious on what that transition looked like. If you have a chance I'd love to hear your story or any advice you have on starting out!

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