Seeking connect in the Spokane area

[Minji Wu]

hello there! My name is minji and I'm an investor (well, sort of). We purchased a condo as our first rental property last year but in hindsight it's not a great deal. I'm located in the greater Seattle area and with the housing market here as is we felt we are pretty much priced out. That's why we are looking for opportunities in the Spokane area. 

My current plan is to do but and hold, therefore I'm seeking connection with realtors, wholesalers, mortgage brokers and property management, contractors. I'm mainly looking for multi family (preferably 4-Plex), but I'm also open to single family as well. 

Without a doubt I have much to learn. In particular I'd like to get some opinions what you'd think is a B class neighborhood here. I've read some posts saying to avoid the west side north of i90. 

With respect to rent, it seems to me roughly the market is like 

Studio: 500

1-bedroom: 600

2-bedroom: 700

Does this look about right? 

Thank you

[Chris H.]

I know Spokane very well, especially the north side.  Are you going to be buying remotely or looking to come down in person?  Are you looking for a turnkey (or near turnkey) or a full fixer-upper (value play)?

Your numbers are a bit overgeneralized.  $700 seems 'normal' for a basic 2-bedroom apartment, and a single family would go for more; on the other hand, I've got 2-bedroom duplexes with garage that rents for $800-850- and they're not even in premium areas.   It heavily depends on the neighborhood and amenities.    We're going through a bit of a rent surge at the moment due to low vacancy rates.

Keep in mind: as a general rule, in Spokane, with multifamily, landlord pays W/S/G, but with single families, the tenant pays W/S/G.