All Forum Posts by: Edward Seid

It seems every time the yield curve kisses or break below inversion, a recession shortly follows in about a year. This has been a predictor for the past 7 recessions. I believe we'll be looking at a recession in late 2019 or 2020. I'm long term as well, but holding on to equity and cash for now. 

https://www.gurufocus.com/yield_curve.php

I'm agreeing with @Sean Lunny, I'd either house hack and rent out rooms individually or, depending on your financial position, try to find a 3 or 4-plex. Trying to invest out of state when you're new is also very difficult if you're aren't familiar with the mechanics already. Best to get experience locally first. You'll also get better rates for living in your 4-plex than not. 

quick googling: https://www.attomdata.com/news/market-trends/figuresfriday/january-2019-foreclosure-filings-see-an-uptick/

Theres a 7bd home on MLK and Brandon St for $495k. That'd probably be a good bet for house hacking. 

Could you send me more info? Thanks

Seattle is one of the most tenant friendly major cities in the nation, unfortunately. 

The whole region trends upwards. I don't believe there is much differentiation. If 300k is your budget and you want a SFH, I'd search for something in deep Renton or even as far as Tacoma/Federal Way. There have also been some homes in the 350-375 range in Tukwila as recent as last week but they're both pending now, I believe.

Maybe consider condos if you want to be in Seattle proper. You won't find that many though, but there are are some and will be 1BD or micro unit 2bd condos. 

99% of townhomes in Seattle do not have an HOA. @Antoine Martel you're right about condos though. I'd stay clear away from condos and HOAs. Townhomes are great as rentals in Seattle because who doesn't love a cut and dry rental? Majority are space efficient and don't have much of a yard to maintain which is a plus for tenants. 

It's 15 min walk to the angle lake light rail station. Its also next to angle lake park/angle lake which is pretty nice. The park is the only public access to the lake. I've heard there is no other way to access the lake besides those who live on the lakefront. 

You've got two good rent comps VERY CLOSE to your subject property.  the hanover apts, and landing at angle lake. About $1250 for 1bd and $1500 for 2bd is the going rate at this time but depends on finishes used for the renovation. 

You should talk to more people about the neighbhorhoods in Seattle. SeaTac is like the armpit of Seattle. When I show houses in the 250k range (very low range), we're most likely going to SeaTac. There is no where else close to Seattle where you can buy a house that cheap except for the skyway area where you'll find some 2bd/3bd homes for 300k. 

Another thought to add - do your due diligence and check for new building permits in the area. The angle lake light rail station is one of the newer stations so I'd be curious if the station will bring in lots of developer $. Think transit-oriented development. 

In Seattle, there are certainly buyers who are turned off by oil furnaces. I always point people to the PSE website for comparing heating costs: 

https://pse.com/savingsandenergycenter/tips-tools-...

There's always the danger of the oil tank leaking into the surrounding soil. That can become expensive to remedy. If the oil tannk is above ground, it will be much, much easier and cheaper to remove.