Tacoma Market for Buy-and-Hold Investments

[Brendon Stewart]

(reposting this to the Tacoma Real Estate Forum)

Hey All - I'm a noob from Seattle looking at Tacoma for my first RE investment.

Anybody will to share tips on neighborhoods / strategies where you are seeing success?

I have focused my research on buy-and-hold SFRs in what I would consider B neighborhoods (UPS, Proctor) and B-/C+ (neighborhoods surrounding the International district) neighborhoods.

Based on MLS listings I am finding rent-price ratios in the 0.6% - 0.7% range, which is slightly above what I see in the Seattle market. Given the low price of homes relative to Seattle, however, Tacoma seems like a reasonable entry point for a new investor.

I'd also welcome any alternative views to challenge my current thinking! I've read through the forums for Seattle / Tacoma / surrounding areas and there is a ton of great info out there - thanks for all those who are sharing!