New to BP and real estate investing - WA state

[Pat Ryan]

Hi everyone, my name is Pat! 👋🏻 

I'm an electrican living in the south Puget Sound area of Washington state with my wife and 2 boys. We currently rent.

What really drew me into real estate and BP is learning about out-of-state investing - I had no idea this was so common! I thought real estate was completely out of the question for us based on the insane market here, but learning about OOS has really opened my mind to different possibilities.

Also learning that 3.5% down FHA loans aren't frowned upon, but in fact encouraged, in the BP community was a game changer! Over the years we've managed to save a decent chunk as a down payment, thinking 20% down was the ONLY WAY to buy a home. Boy was I wrong... so many houses we've missed out on over the past few years 🤣 

So recently I was able to convince my wife maybe instead of buying a house for "us", we take this money and turn it into some positive cash flow.

Right now I'm just learning as much as I can. Really intrigued by OOS while also looking locally for a multifamily property to house hack.

Anyway, I'd love to connect with other investors on BP and in WA especially!

[Nicholas Coker]

Welcome @Pat Ryan! I completely agree with how overwhelming it is looking at the numbers of homes and land around our area. I am relatively still new to real estate investing having purchased my first  property less than a year ago; I currently house hack, in the Olympia area. I have been looking into OOS investing as well, so if you ever want to bounce ideas off of each other or even nuggets of information we find I would be more than happy to contribute.

Best of Luck,

NC