High Demand for Single Family Rentals in Seattle

High Demand for Single Family Rentals in Seattle
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Hard money lenders help investors acquire SFR’s in hot markets

If you’re looking to invest in rental properties, single family residences (SFR’s) can be a great option, particularly for “newbie investors.”

SFR’s require less maintenance and management than multifamily units, financing is typically simpler, and you’ll often see a quicker rise in value.

The 2017 National Single-Family Rental Research (SFR) Report includes Seattle on its list of metro areas that are favorable for investment.

Renter demand derived from strong job growth has led to the city’s construction boom. Outside investors have helped drive housing prices up throughout the region. However, according to the research report, there is some higher priced SFR inventory available for real estate investors with the resources. And Columbia City and West Seattle are areas to consider for those looking for short term ROI.

How to successfully buy a single family residence (SFR) rental in a hot market

  • Do your research: Familiarize yourself with availability, pricing, neighborhoods and how the market aligns with your goals and resources
  • Secure financing: Successful investors have their financing ready to go in a tight market. Hard money lenders offer fast cash loans that can help make or break an investment opportunity.
  • Get leads: The more real estate leads you have coming in, the greater the chance for a great buy. Don’t limit yourself to a real estate agent. Be proactive in acquiring lead sources.
  • Run the numbers: Calculate the monthly cash flow on any property you consider purchasing. Analyze all rental income and expenses before making an offer.
  • Offer and negotiate: Submit your offer depending on how you found the lead – either through your agent or directly to the seller. Then get ready to negotiate a deal.
  • Close on your investment: Wrapping up an SFR purchase is often a flurry of check signing, paperwork, and last minute problem solving. Keep a cool head. You’re in the home stretch.
  • Manage your property: You’re now the owner of a single family residence property. Honestly access your skills and resources to determine if you or a property manager are best fit to care for your rental investment.

We’re an experienced SFR hard money lender service

Being financially prepared in a hot housing market like Seattle/Puget Sound is one way to ensure your success as a rental property investor. If you’re just starting out and credit is an issue, financing may pose an additional challenge. Give our Gregory M. Russell team a call to learn about hard money loan options. 1-888-477-0444.