All Forum Posts by: Ian McDonald

@Ned Carey 

Thank you for the advice.  I have started looking in the surrounding areas and it does get a little better.  I notice that the farther you branch out you run into smaller towns that don't have as much industry, stable jobs, etc.. meaning the rental market also is even lower than where I am at, therefore rendering the same situation in ratio.  Looks like I need to get out of Washington State to get a decent deal.

I have been searching for homes in Ellensburg, Washington recently to keep things manageable and close to where I live.  There is a University here with proven rental market. The issue is that the home prices here are so high that it's extremely difficult to find a good cash flowing buy and hold property. 

My questions are:

Anyone in Washington State noticing the same thing with rental income market compared to high home prices?  

What is your advice besides to just keep waiting for the right home to open up?

Thanks to all for your support!

Hello all,

I joined Bigger Pockets about a week ago but have been loving every bit of it.. Great work being done here. Two years ago I bought my personal residence which is a SFR 3bd, 2ba and it has been great. Even before I bought my first home I always thought to myself how good of an idea it would be to purchase a home and rent out the other rooms to pay for the mortgage. Now I just have a better idea of what this is all about and what my actual goals are, which is to purchase enough cash flowing properties in the next 3-5 years to cancel out all my living expenses and at that point I can assess whether or not quitting my 9 - 5 to become a full time investor is the best route. My path to financial freedom is going to start... and its going to be a fun ride.

Hope to meet some good like minded folks here!