All Forum Posts by: Tiffany Kung

@Troy Fisher

Thanks so much for organizing! Looking forward to it!

Tiff

@Dave Skow

Hi Dave,

Thanks for the advice! I plan to contact a few lenders and maybe a CPA to have my funding available, so that I'll be able to respond to attractive opportunities quickly.

@Troy Fisher @Patrick Britton

Hi Troy, Patrick,

I'm willing to consider multi-family properties, but I'm certainly concerned about the drawbacks that Patrick has clearly outlined. But more importantly, I just haven't been able to find them in the neighborhoods I've been looking into.

Troy: Do you have any recommendations on neighborhoods I should be researching for multifamily properties?

@Hersh M. @Trevor Ewen

Hi Hersh, Trevor,

It makes a lot of sense that the 1% rule doesn't apply to cities like Seattle. Is it reasonable to expect higher appreciation in the hot urban cities, and therefore be ok with purchasing properties even if the rent/value ratio is not great?

@Ryan B.

Hi Ryan,

Thanks for sharing your experience! I'm considering that too, and hoping that some light rehab isn't too difficult for a new investor to manage, and can add some value to the home.

Which neighborhoods are you looking into?

Hi everyone!

I'm new to BiggerPockets, and am looking for some advice!

My husband and I are looking to buy our first home in Seattle, and in neighborhoods with good access to shops and restaurants. Our initial plan was to buy a house and live in it for 2-3 years, then rent it out, and move to a second home.

The challenge I'm running into is that the neighborhoods we like don't seem to offer good investment opportunities. I used the 1% rule and calculated GRM of a few properties we found on zillow, and the numbers just don't seem to work.

I'm not sure what the right next steps should be, but I've considered a few scenarios:

1. Buy a single-family home in a neighborhood we like; at least our $$ is building equity in our own home rather than going to rent. We then save up, and buy a rental property later on.

2. Buy a single-family home, and rent out the basement to help pay down mortgage.

3. Continue to rent, and buy an investment property elsewhere. I think the rent will likely be higher than the cash flow we can get from the investment property.

I'm new to RE, and appreciate any advice you may have.

Thanks so much for your help!