BRRR or other opportunities in or near Seattle?

[Molly Taylor]

Hi there,

I've been a Bigger Pockets lurker off and on for about a year. I am interested in getting my foot in the door with my first BRRR. I have access to capital, but the market in Seattle is so expensive that I haven't found an opportunity that doesn't have a barrier of entry that I am uncomfortable with. Also, I have a full time job! I am an architectural designer pursuing licensure, but my firm doesn't do much residential, so I am not a residential remodel expert. I would like to learn more and eventually supplement my architecture income with a BRRR income stream, but I am looking to learn and find opportunities to invest. Any tips or leads are greatly appreciated! Thanks.

-Molly

[Michael Haas]

Congrats Molly- deciding to take action is the first step! There are lots of options for early-stage investors, even in the Seattle market- the key is to figure out what your competitive advantage is and exploit it. Our BRRRR advantage has been access to cheap labor, cheap capital, and being creative with our property layouts and rental arrangements.

A couple questions s for you: do you have enough capital to offer cash on non-Financeable properties? Do you currently own your primary residence and any other properties? Would you consider moving into this new BRRRR property as well?

House hacking your BRRRR can be a great tool to get you started, and the upside is even greater if you have cash or private money for the really hairy properties.