Don’t Forget Multi-Family (Ballard)

The standing advice I give to first time buyers is “This isn’t your dream house, it’s your first house”.

As the Seattle market continues to heat up there are ways to keep control over the cost of homeownership – one strategy is multi-family ownership. Ask your mortgage person about these opportunities especially if you intend to go VA and VHA financing.

Consider making and initial investment, remaining as an on-site landlord for the minimum amount of time to satisfy any lender or tax restrictions, rent the unit you occupy, and now you could be investing with less out-of-pocket exposure.

Sold for $1,395,000 it’s valued at approximately $1,500,000 today about two years later.  You’ll most likely be looking for a duplex or tri-plex but as you look, keep your eye on the multi-family opportunity.