Learning about buy and hold in Seattle, WA

[Kelly McCandless]

Hello everyone,

I'm excited to be on Bigger Pockets and can't wait to meet you guys! I am a 21 year old construction management student at UW and currently work part time as a project engineer. I grew up in Federal Way, WA and work in the Bellevue/Seattle area. I have a great job waiting for me to graduate, but I would like to add real estate investing for financial security and passive income.

Buy and hold rentals interest me the most, and I plan on making my first purchase within 6 months of graduation. I have the funds for 20% down, but need a full time job to get approved for a loan, so graduation needs to come first. That and being a landlord while working and being a full time student seems unideal. I have a couple different plan options that seem viable, but I think I'll just need to see what's available when the time comes. I'll probable break them down at some point but that might make this post a touch long.

I'd love to hear from people in Western Washington. Thank you for read!

[Account Closed]

@Kelly McCandless I was in your shoes about 7 years ago and was fixated on buying my first property in Seattle. I put in lots of offers and kept getting beat out by cash buyers on anything worth buying. The couple we did get under contract fell apart because the house were literally falling apart. Finally we (my girlfriend, now wife and I) decided we had to head north to Everett or south to Tacoma where properties had more cashflow but still plenty of chance for appreciation. We settled on Everett since that where I grew up. Our first purchase was two side by side duplexes (essentially a fourplex). Now we are up to 59 units all in Everett. Perhaps investing in Federal Way could make sense for you.