Pinpoint the best real estate market for your specific goals with expert recommendations and real-time data on appreciation, affordability, rent to price ratio, and more.
Hey James, thanks!! I've heard really good things and it definitely seems to fit with our lifestyle. I'll be sure to keep mother-in-law suites/room rentals in mind too.
It's probably premature, but welcome to Colorado! It's an awesome place to live. Tons of sun, great beer, legal marijuana (if that's your thing) and proximity to the mountains.
Denver's going to be tough, as others have said. Colorado Springs is certainly interesting, and we're pushing a lot of our investors down there. A duplex would be great, and you can find that, but you might also consider a home with a little mother-in-law suite downstairs. You could rent that out full-time just like the other side of a duplex. Or, if you're open to it, you could always buy a slightly bigger house and rent spare bedrooms on Airbnb. It's not sexy, but I had some school teacher clients who just bought their first investment property after short-term renting a spare bedroom for a year and saving up.
Hi Kaley, thanks for breaking down the city for me -- that's really helpful! I appreciate the house hacking advice as well. I'll definitely check out Colorado Springs.
@Haley B. I would recommend getting something central or downtown if it’s just your boyfriend and you. Colorado Springs has such a great little downtown. Square footage, separate bathrooms, kitchenette, seperate utilities, home separation/ divider walls etc all come into play when finding the right house hack. Depending on your budget I’d house hack in a nicer area like the Broadmoor, downtown, old north end, old Colorado city, briargate, etc. and do a throughout background check as well.
Hi, welcome to BP. I house hacked in Burien. It’s just south of Seattle next to the airport. House hacking is a great way to get started. I agree with others on this thread that if you want cashflow you should stay away from King County and focus on Pierce County to the south. I bought 4 years ago in King county, but at today’s prices there is no way my duplex would cashflow. I’m glad I bought when I did. Tacoma isn’t as “cool” as Seattle but I believe it’s up and coming. Seattle has gotten very expensive and a lot of high income earners are starting to move south for the less expensive real estate. Also, they are expanding the light rail system south to Tacoma in the future. Eventually you will be able to commute from Tacoma to downtown Seattle on the train. This will make Tacoma much more attractive to commuters. I believe Tacoma is a great appreciation play, but that’s just my opinion. I lived in Tacoma for 4 years and every time I go back it seems just a little better. As far as neighborhoods go....North Tacoma is the nicest part of town. The east side is lower middle class. I have noticed a LOT of flips on Zillow on the east side. South Tacoma is about the same. I’d say lower middle class. This includes Lakewood which is pretty rough. It has a bad reputation. The West side around University Place and Fircrest are solid middle class. I’d say they are B neighborhoods. Then you have good old Hilltop/downtown. This area is the “ghetto” but it is improving at a faster rate then all the other neighborhoods. I used to live there when I was single and just wanted to save money, and let’s just say I have some stories lol. Now it’s starting to look like a “hipster” neighborhood for lack of a better term.
I grew up in the Puget Sound, but it’s been 5 years since I lived there. So take what I say as just my opinion. Any Current Tacoma locals feel free to critique my neighborhood breakdown. Hope this helps.
Thanks, this is very helpful! Really appreciate it Originally posted by @Uwe G.: Hi Haley,
If you have the option to work remote then I would definitely think of moving to Vancouver, WA. Oregon has upwards of 10% income tax and if you live on the other side of the river it is a no brainer financially. Also, from a long term perspective I actually believe that Vancouver will reach parity with Portland prices and possibly command more due to having much better schools and no taxes. This is why we live in Vancouver. If you live close into Downtown Vancouver (1 mile) you would be about 12 minutes from Downtown Portland (~9 mile drive) when their is no traffic. If there is traffic then it would be 30 minutes and even upwards of 40 minutes when traffic is really bad. Also, if you live close in Downtown Vancouver you are closer to PDX then if you were to live near Downtown Portland.
I highly recommend if you haven't already to fly in and spend a couple weekends in Portland and its suburbs including Vancouver. If you need any more advice don't hesitate to reach out as I also work for a Property Management and Realty company.
Originally posted by @Haley B.: Hey Uwe, there's a chance I'd be able to work out a remote working situation with my current company. But more likely I'd be commuting, at least to start
Where will you be working? Will you be a remote employee or finding a job and commuting? Based on that answer I will have some recommendations for you.
@Haley B. - Feel free to call me anytime if you would like to chat more about Colorado Springs whether its about the market, what C/S has to offer living here on a personal level, etc.
Hey Uwe, there's a chance I'd be able to work out a remote working situation with my current company. But more likely I'd be commuting, at least to start
Where will you be working? Will you be a remote employee or finding a job and commuting? Based on that answer I will have some recommendations for you.
I happen to be that BP member that @Ian burg helped buy a house for! I have a duplex in Redmond with a tenant who pays over half my mortgage, and a friend in my second bedroom that reimburses me for utilities and food. My total payment is about $100, although I could easily rent my spare room for more and pay nothing. I just wanted to help out a friend and offered it to them instead.
Redmond is a good area and prices aren't too bad here yet. I am obviously bias because I live here, but it is certainly worth looking into. The weather is normally quite nice as well. A lot of sunshine, and endless amounts of activities to do outside. Also, Ian is great to work with, which made everything I had to do, really easy!
I would recommend Colorado Springs. With a $250,000 budget you could be able to find a duplex setup. Plus Colorado Springs is an awesome place to live, especially for the millennial generation which has on multiple occasions been ranking Colorado Springs the #1 place to move to.
My boyfriend and I are looking to move out of state, and Washington is one of our top choices. We'd like to start our real estate investing career with by house hacking a duplex or triplex.
Any advice on the neighborhoods/cities we should be looking at?
Our budget is $250K and we'd be looking to cashflow or break even. (Or at the very least very low in the negatives -- the goal is to save up to buy more properties!)
Would appreciate your thoughts! Thanks!
Solid way to start building for your future. Wish you both luck.
