Home Buying in Seattle>Question Details

investor, Home Buyer in Seattle, WA

I am a foreigner (buying as a corp) with US$200k cash looking to buy a high yielding investment property. How attractive is Seattle?

Asked by investor, Seattle, WA Mon Jan 2, 2012

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19
Seattle is a good choice. I'd like to know more specific information about types of properties you are interested in before recommending other areas. I'd also like to know how long you plan on holding onto the property as this could influence where you buy. Some areas are great for the long term but if you think you are going to need to have access to those funds in the next 2-3 yrs that influences locations that I'd recommend. If you'd like to share more specific information on the areas I've discussed about you can shoot me an email and I will give you my take on things.
0 votes Comment Flag Sun Mar 4, 2012
I am from Milwaukee Wisconsin area. We have unbelievable condos for sale on the lake front near the airport and near downtown or right in the downtown area. There is so much opportunity to buy as an investor and rent or live in the property enjoying all the lake front has to offer. I would love to work with you if you decide to come to the Milwaukee area.
0 votes Comment Flag Sat Mar 3, 2012
Seattle would be a great area with the history of property values and major companies that are located in the area.
0 votes Comment Flag Thu Mar 1, 2012
Seattle is a very good choice, it has alot to offer, along with a strong economy and major employers as Microsoft, Boeing, Starbucks and many other tech companies the job market looks stable to fuel the local housing growth. My favorite section of Seattle is Gig Harbor.
Now don't get me wrong I love Seattle, I have great friends there and visit them often, but I prefer a little more sunshine. So I would suggest taking a look at St. Augustine, Florida, a beautiful historic city, great beaches, world class golf, gated and waterfront properties this could not be a better time buy than the present.

Richard Job
Realtor
Prime Real Estate Company
904-209-7201
richard@st-augustinecoastalproperties.com
0 votes Comment Flag Wed Feb 29, 2012
Gerard is right - you can do very well in Florida with 200k!

I do have a brochure that explains what non US citizens need to know when buying or selling property in the US. Feel free to email me at leecountyrealtor@earthlink.net or call me at 239-707-4575 if you would like a copy.

Terry McCarley, Realtor®, CDPE
Jones & Co Realty
0 votes Comment Flag Tue Feb 28, 2012
Seattle is a nice option.. If you decide to invest on the east coast, I would consider Atlanta*

Best Regards,

Adrian Provost
0 votes Comment Flag Mon Feb 27, 2012
You can do real well in Florida with 200K
0 votes Comment Flag Mon Feb 27, 2012
You may want to look at properties in Everett. Boeing is doing well and new contracts are bringing in more potential renters. The prices are good, the inventory is high, and there are both fixers and move-in-ready homes. Lynnwood, adjoining Everett, is also a good area to look for investment properties. Depending upon what type of investment you are considering, there may be other options.
0 votes Comment Flag Wed Feb 22, 2012
Hi Investor,

By high yielding investment property, I am guessing your strategy is to Buy and hold, or Buy, Fix and Hold. The yield varies greatly by neighborhood and by the price of each individual property. I have spread sheets I use with my investor clients to help them determine the yield on a particular property.

Since taxes are a large expense, it will be prudent for you to talk with a United States CPA who knows the different trade agreements with different countries. You said you are buying as a corporation. That may not be the best way to go, depending upon which country you are from. I can refer you to a CPA who can help you decide your best way to purchase in the United States.

And because I have a lot of training in and work with a lot of investor clients, I can help you determine the best investment strategies and locations in the Seattle area.

Warm Regards,
Karen
0 votes Comment Flag Tue Jan 3, 2012
Happy New Year!

Our market in Bellingham, about 1.5 hrs north of Seattle, is right now an attractive place to invest, as I have personally. We are rated as one of the top places to live in the USA, with many homes available for under 200k. If you would like to contact me regarding investing in this market, I am very familiar with foreign investors and would be happy to help. We work with many Canadians, and one of the reasons why our market has been relatively stable is in fact due to a large degree upon Canadians seeking good buys down here, relative to the BC Lower Mainland.

Cheers,

Rob Merhaut
Remax Whatcom County
0 votes Comment Flag Tue Jan 3, 2012
A lot of Agents might get mad at me for what I'm about to say. Seattle, is probably not the best choice. The surrounding areas however can be excellent. There are 3 bedroom homes available around $70,000, that would rent for close to $1200/mo with just a little cleanup. There are condos for around $35K that would pull $800-900 a month pretty easy. Instead of one property, maybe 2 or 3 of these properties would be more profitable? One Investor that I work with is even picking these homes up for around $50K. He looks for homes that have been sitting just slightly longer than average market time, and that need just slightly more work than first time buyers can afford, then he offers them less. It doesn't work all of the time, but he's really hit some home runs over the last couple of years doing this.
0 votes Comment Flag Tue Jan 3, 2012
As already stated, we have been in the top 5-10 US cities to invest in for the last 4 years. Things are looking up for Boeing, Microsoft, Starbucks, & Amazon & all that they lead to in terms of business, etc. If you want to buy something for more then $200k, you can actually get a loan as a foreigner here through a local Savings & Loan. As a real estate Broker & Loan Originator, I can help you with any or all of it. Feel free to contact me directly by email or phone. 206-841-9976.
0 votes Comment Flag Tue Jan 3, 2012
Your cash on cash return won't be that great. Appreciation is where you will earn money in the Seattle market. $200K doesn't buy very much in Seattle, so you must be very selective on the locaiton and type of property and who will manage and rent it for you. There are some great buys out here. As a foreigner, you can get a loan with 40% down, so there is some opportunity to leverage your investment for a bigger payoff in a few years.

Going back to 1932, Seattle has has double digit appreciation every seven years. However, I think we will be looking at 8 or more this time.
Web Reference: http://www.barbkorducki.com
0 votes Comment Flag Tue Jan 3, 2012
Seattle's a safer bet, so the yields aren't quite as high - generally. Now, if you want to take some risk, Seattle does have some opportunities . . . what are you thinking?
0 votes Comment Flag Mon Jan 2, 2012
Investor,
Very attractive, but more expensive than other area. For $200k you will be looking at either condos in the city or smaller homes in some of the suburbs. As Christy indicated our economy is very diverse with major players. I have had several investor clients as well and depending on your intentions could recommend properties that may suit your needs.
0 votes Comment Flag Mon Jan 2, 2012
For an investor, Seattle is a very safe place to invest your money. Forbes Magazine predicts Seattle will recover from the recession early and strong. Case-Shiller forecasts appreciation between Q2 of 2012 and Q2 of 2013 at 13.8%. With our strong economy, including major employers Boeing and Microsoft, the job market looks good for years to come. Long-term, migration patterns favor the west coast. Seattle ranks #1 among college students in the U.S. as the city they would most like to move to after graduation. Because of our proximity to China, Japan, and other exporting countries, Seattle will be an increasingly important trading city in the future. That's the basic data. More detailed information would be required in order to advise you further.
0 votes Comment Flag Mon Jan 2, 2012
Hi there,

We have many out of state and country investors purchasing properties here in Seattle. Our market is unique and different because of the big name companies such as Microsoft, Amazon, and Starbucks and the jobs that it brings. Not too mention that we have a very large bio tech population, both large and small companies. Our population in Seattle is expected to grow and with housing development stalled for the last couple of years, the demand for housing keeps our rental market very competitive. I am currently working with a client from Nebraska and we are scheduled to close at the end of the month. We also have several prospects from Canada, Australia, and etc. I would love to hear more about what you are looking for, your plans, and how I can be of help. I look forward to hearing from you!

Seattle is making the list of every top real estate investment markets and it doesn’t surprise me. Here are some of the reasons why Seattle is such an attractive market:

http://yourseattleproperties.com/seattle-in-the-news/


Christy Kim
Real Estate Broker/Investment Properties Specialist
Certified Short Sale Negotiator
eXp Realty, LLC
206.235.3427 (Mobile)
888.317.5197 ext. 120 (Toll-free)
206.452.5875 (Fax)
christy.kim@seattlepowersearch.com http://www.YourSeattleProperties.com
0 votes Comment Flag Mon Jan 2, 2012
I can't answer for Seattle, but Honolulu is looking good. Here's a blog post I did earlier today that may be of interest to you.


Frank Diaz
(RA) MBA, e-PRO, REALTOR®
East Oahu Realty
808.723.0900 cell
http://hawaiihome.biz/
0 votes Comment Flag Mon Jan 2, 2012
More expensive than some cities but there are decent rentals to be had
0 votes Comment Flag Mon Jan 2, 2012
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